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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, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- PTC India Limited - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- White Energy Company Limited
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