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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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Saturday, 11 July 09
THE IMPORT OF STEAM COAL FROM INDONESIA & S/A TO INDIA WILL CONTINUE TO INCREASE - VISTAAR
COALspot.com ( Singapore): Vistaar Shipping, an experienced ship operator in Singapore said, The market continued to be soft this with doubts a ...
Friday, 10 July 09
DMO AND ICPR AIMED AT SECURING DOMESTIC COAL SUPPLY
COALspot.com (Indonesia): According to website of DGCMG, the implementation of coal Domestic Market Obligation (DMO) and the Indonesian Coal P ...
Friday, 10 July 09
INDONESIAN MINING LAW IN TRANSITION
Further to the enactment of Law No. 4 of 2009 on Mineral and Coal Mining (“Law 4/2009”), the enactment of various implementing regulatio ...
Thursday, 09 July 09
COAL EXPORTS TO CHINA MAY FALL AS PRICES, SHIPPING RATES RISE
CHINA'S appetite for Australian coal may fall in July and August from earlier highs, due to a recent recovery in regional prices and higher interna ...
Thursday, 09 July 09
GARDA LISTS SHARES IN LOCAL BOURSE
Local coal company PT Garda Tujuh Buana officially listed its shares in the Indonesia Stock Exchange (IDX).
The listing followed the company's p ...
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- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- PTC India Limited - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
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