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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, 16 July 09
JAPAN'S J - POWER STARTS OPS AT NEW 600 MW COAL UNIT
Reuters, a worlds leading news agency reported that, Electric Power Development Co (J-Power) said on Thursday it started commercial operations at it ...
Thursday, 16 July 09
DELIVERY OF COAL MINE EXPLORATION THROUGH NEWCASTLE PORT ROSE 11 PERCENT
July 16th, 2009 Newcastle is a port in Australia that provides services in the delivery of coal from Australia to other countries. Newcastle port ha ...
Thursday, 16 July 09
CIL KEEN ON JOINT VENTURES
* Targets to raise production by 10 m tonnes by 2012
* Plans to tap reserves of abandoned mines
The Hindu, an Indian news paper reported that, t ...
Wednesday, 15 July 09
COAL INDIA INVITES EOI FOR COAL MINING IN FOREIGN COUNTRIES
Economict Tmes reported that, Coal India, a leading PSU with a status of Navratna, today, invited Expression of Interest for selection of strategic ...
Wednesday, 15 July 09
BANGLADESH TO IMPORT COAL FROM INDIA FOR 1 MORE YR
Bangladesh has decided to import coal from neighbour India for another year to save foreign exchange and time, a commerce ministry official said on ...
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- Rashtriya Ispat Nigam Limited - India
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- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
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- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
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- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
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