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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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Monday, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
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- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- The University of Queensland
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
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