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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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Tuesday, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
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- Latin American Coal - Colombia
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- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
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- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
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- Tata Chemicals Ltd - India
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- Wood Mackenzie - Singapore
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- Intertek Mineral Services - Indonesia
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- SN Aboitiz Power Inc, Philippines
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- Salva Resources Pvt Ltd - India
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- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
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- Petron Corporation, Philippines
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- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
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- Standard Chartered Bank - UAE
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- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- South Luzon Thermal Energy Corporation
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- Bukit Baiduri Energy - Indonesia
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- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
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- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
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- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
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- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
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- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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