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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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Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
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- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- The University of Queensland
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
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