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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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Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
COALspot.com (Singapore) : The volume exported from Australia’s Newcastle port in the week ended - 07:00 hours 27 July 2009 ...
Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
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- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- ASAPP Information Group - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
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