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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, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- The University of Queensland
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
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