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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, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
Saturday, 04 July 09
MINING CONTRACT SOUGHT FOR COAL AREA IN MASBATE
Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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- Riau Bara Harum - Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- McConnell Dowell - Australia
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- AsiaOL BioFuels Corp., Philippines
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- Energy Development Corp, Philippines
- Central Java Power - Indonesia
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- European Bulk Services B.V. - Netherlands
- The University of Queensland
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- Larsen & Toubro Limited - India
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- Wood Mackenzie - Singapore
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- Electricity Authority, New Zealand
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- Australian Commodity Traders Exchange
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- IEA Clean Coal Centre - UK
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- Wilmar Investment Holdings
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- Eastern Energy - Thailand
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- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
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- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
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- ICICI Bank Limited - India
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- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Australian Coal Association
- Malabar Cements Ltd - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
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- Agrawal Coal Company - India
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- Altura Mining Limited, Indonesia
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- Parliament of New Zealand
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- London Commodity Brokers - England
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- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
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- Vedanta Resources Plc - India
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- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
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- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
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- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
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- Indonesian Coal Mining Association
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- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Karbindo Abesyapradhi - Indoneisa
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- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
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- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
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- Kartika Selabumi Mining - Indonesia
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- Merrill Lynch Commodities Europe
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- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
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- Samtan Co., Ltd - South Korea
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