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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, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
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