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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, 21 July 09
FIRST QUARTER COAL MARKET AND EURACOAL'S OUTLOOK FOR THE FUTURE
Euracoal reports that for the first time in many years, the world market for hard coal fell by some 8 % during the first quarter 2009. This latest E ...
Monday, 20 July 09
CHINAS COAL DEMAND, OUTPUT TO PICK UP IN H2 - GROUP 2
Financial24 reported that, China's coal demand is expected to gradually pick up in the second half of the year, and coal output will likely grow fa ...
Monday, 20 July 09
ADANI POWER LAUNCHES IPO, AIMS HIGHER CAPACITY
Economic Times reported that, Adani Power Ltd, a power project development company, promoted by Adani Enterprise went for an initial public offering ...
Monday, 20 July 09
BANPU'S SECOND-HALF PROFIT MAY DROP ON COAL PRICES
Bloomberg Reported that, Banpu Pcl, Thailand’s biggest coal producer, expects profit to decline in the second half from the first six months a ...
Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
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- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
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