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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- White Energy Company Limited
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
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