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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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Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
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- India Bulls Power Limited - India
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- SN Aboitiz Power Inc, Philippines
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- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
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- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
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- Parliament of New Zealand
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- Indian Oil Corporation Limited
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- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
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- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
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- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
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- Planning Commission, India
- Indonesian Coal Mining Association
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
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- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
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- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
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- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- GMR Energy Limited - India
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- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
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- Sical Logistics Limited - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
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