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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, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short o ...
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- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
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