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Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
 • Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against price volatility
• The indices will serve as a barometer of the coal market in India covering various grades of coal, representing the domestic coal sold through spot eAuction in India
Marking a significant development for the coal industry in India, mjunction services, India’s largest eCommerce company today launched the country’s first and only ‘coal spot price index’ which would serve as a barometer of the coal market in India and provide a reliable price benchmark across the coal industry. The index is aimed at empowering Indian coal consumers, enabling them to avert risks against market price volatility.
After months of in depth research and testing, a team specially formed for the purpose, finally developed four separate indices. While MJcomposite would serve as a barometer of the overall coal market in India, the other three industry-specific indices would serve the steel, cement and power sector respectively.
• MJcomposite: A value-weighted spot price index covering all the grades auctioned through eAuction, representing more than 70 per cent domestic coal sold through eAuction in India. The index constitutes 60 different varieties of coal from various coal producing companies in India (under MoC).
• MJsteel: A value-weighted spot price index exclusively showcasing the performance of Grade B coal (GCV = 5,800-6,400 Kcal/Kg). All the buyers/sellers of Grade B coal can use this index as a benchmark. Major consumers that will benefit from the index would be the steel and sponge iron sector, paper industry, etc.
• MJcement: A value-weighted spot price index exclusively showcasing the performance of Grade C coal (GCV = 5,400-5,800 Kcal/Kg). All the buyers/ sellers of Grade C coal can use this index as a benchmark. The index will serve as a very useful tool for coal consumers in the cement industry.
• MJpower: A value-weighted spot price index exclusively showcasing the performance of Grade E and F coal (GCV = 3,600-4,800 Kcal/ Kg). About 52 per cent of total coal offered through eAuction mode. The index will serve as a very useful tool for coal consumers in the power sector as well as CCP units.
The index will be a free service for all users of coaljunction (www.coaljunction.in) permitting them to view the index values and take informed decisions pertaining to their coal buys and sales.
Benefits of coal spot price index
• Understanding of the price movement (based on demand and supply) for Indian coal
• As a landed price benchmark for finalising the coal imports
• As a benchmark for secondary market transactions
• Can be used as a Final Settlement of Coal Futures Contract
• To implement risk management
• Buyers can hedge their risk using various financial products (index linked deals, SWAPS, other customised products) linked with the index
Speaking on the occasion, Viresh Oberoi, managing director, mjunction services said, “The coal spot price index is a service from coaljunction – a dedicated business unit of mjunction which deals with coal eSales. The coal industry in India, has relied till date on the international coal spot price indexes like Richards Bay Coal – API-3 from South Africa, Global Coal (RB and NC), Japan Power Utility Index, Australian New Castle Coal – API-3 and ACR Asian Index to name a few. With the advent of ‘MJcomposite, MJsteel, MJcement, MJpower’ the industry will now have a much more accurate and authentic coal price benchmark.”
Unveiling the coal spot price indices at a function held at Kolkata, AK Sarkar, director – marketing, Coal India, said, “The coal spot price index developed by mjunction is a very significant step in the development of price benchmark in the Indian coal sector. Unrestricted availability of information of the prices is a very important feature of any well functioning market. I hope, the coal spot price indices will eventually work as a benchmark when the coal derivative market takes root in India and buyers and sellers can hedge their risks through the use of coal derivatives.”
Mr Oberoi further added, “We are delighted that our expertise in the coal market will now benefit all the stakeholders of the coal industry. We are optimistic that our coal spot price index being the country’s first such index, will now reduce dependence of the coal producers, consumers and traders on the international price benchmarks while conducting coal business transactions. When the current domestic demand of coal is estimated at 660 million tonnes by 2009-10 with a further import potential of 100 million tonnes by 2012, our coal spot price indices are deemed to play a crucial role in managing coal trade in our country and overseas.”
The launch of the coal spot price index signifies mjunction’s focus on the use of technology and knowledge based services to empower its customers. It also demonstrates the deep insights and domain expertise that coaljunction has been able to develop over the years and then coming up with innovative services for the betterment and development of the coal industry as a whole.
Continuing to be a prime platform for knowledge gathering and exchange across diverse subjects ranging from coal, steel, non-ferrous metals, minerals, sourcing, logistics, mjunctionedge – the content and conference division of mjunction – is also organising the ‘3rd Indian Coal Markets Conference 2009’ scheduled on October 6-8, 2009 at New Delhi.
To be organised in association with ‘The McCloskey group’ it will cover all aspects of the coal supply chain beginning from exploration right up to consumption across various sectors. The conference is expected to see buyers, major coal producers’ analysts and key industry stakeholders from all over the world discuss their strategies on fulfilling the ever-increasing demand for coal, share insights on the coal imports, identify, network and promote future business prospects.
The conference thus promises to be an active discussion ground wherein key national and international speakers like Eoghan Cunningham – CEO, globalCoal, Dan H Chu – MD, mergers and acquisitions group, UBS Investment Bank, Bruce Hartshorn – senior VP of met-coke and export sales, Alpha Coal Sales, A Laxminarayana – VP, marketing and operations, eastern region, Coal & Oil, Jack Kellet – executive director, energy risk management, Mitsui, BK Chaturvedi – member, Planning Commission, Government of India, RV Shahi –chairman, Energy Infratech, A Sarkar – director marketing, Coal India, NC Jha – director technical, Coal India, TK Chatterjee – executive director, fuel management, NTPC, and many other dignitaries highlight the opportunities and issues faced by the coal market in India as well as globally.
Source: TATA
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Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- The University of Queensland
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
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