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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, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
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- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
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- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Petron Corporation, Philippines
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- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
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- The Treasury - Australian Government
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- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
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- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
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- Directorate General of MIneral and Coal - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
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- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Parliament of New Zealand
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- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
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- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
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- Thai Mozambique Logistica
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
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- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
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- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
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- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Ministry of Transport, Egypt
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
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- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
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- Cement Manufacturers Association - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
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- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
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