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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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Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
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- Trasteel International SA, Italy
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
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