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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, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
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- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Parliament of New Zealand
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
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