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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, 24 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
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- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
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