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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, 23 June 09
NAPOCOR TO RE-TENDER FOR 195,000 T COAL IN JULY
Electricity producer National Power Corp. (Napocor) will hold a tender on July 15 to buy 195,000 tons of steam coal for its Sual power station, the ...
Monday, 22 June 09
ONE DIES IN KUTAI COAL TUNNEL COLLAPSE
The Jakarta Post reported that, A tunnel at a coal mine belonging to company PT Fajar Bumi Sakti in Kutai Kartanegara, East Kalimantan collapsed on ...
Monday, 22 June 09
THIS WEEK IS EXPECTED TO BE FIRM AND DEMAND OF SHIPS WOULD BE STRONG - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI up by 487 points over last week which is an increase of almost 13 pct. The increase is again mainly due to Ca ...
Monday, 22 June 09
CHINESE MAY COAL IMPORTS HIT RECORD 9.43 MILLION TONNES
Reuters quoted Custom Data showed that China's coal imports hit an all-time record of 9.43 million tonnes in May.
The figure surpasses the previ ...
Monday, 22 June 09
SOUTH AFRICAN EXPORT COAL DECLINES ON WEAKENING EUROPEAN DEMAND
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, posted the first dro ...
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- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Posco Energy - South Korea
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
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