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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, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- The University of Queensland
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
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