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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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Thursday, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
Steel Guru reported that, It is reported that units of International Coal Group Inc and Arch Coal Inc have filed federal lawsuits in the same court ...
Thursday, 06 August 09
COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
Tambang reported that, A data from the Forestry Ministry showed that almost 65 percent of mining activities operated under contract of work, c ...
Thursday, 06 August 09
MINING PERMITS FOR THOSE COMMITTED TO SMELTER DEVELOPMENT ONLY
Tambang reported tht, Concrete and tangible endeavors are key to guarantee the attainment of added value from mining sector. The Indonesian Ministry ...
Thursday, 06 August 09
PRESS RELEASE - CZECH COAL CONTESTS THE J&T AND IPO MERGER
Prague, 3 August 2009 - The Czech Coal Group filed today objections to the proposed merger of the J&T Group and International Power Opatovice (I ...
Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
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- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- The University of Queensland
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- VISA Power Limited - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
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