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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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Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
Thursday, 05 November 09
HMS BERGBAU AG OPENING INDIAN OFFICE
Further step on internationalization track Office in Mumbai Participation in demand for coal imports
HMS Bergbau AG, is an international coal tra ...
Thursday, 05 November 09
SAM'S SEAFOOD HOLDINGS MOVES STEP CLOSER TO COAL EXPLORATION IN INDONESIA
Sam’s Seafood Holdings Limited, which is proposed to be renamed Pan Asia Corporation Limited, is moving closer to becoming an exploration and ...
Wednesday, 04 November 09
INDONESIA CAP ON COAL EXPORTS MAY HIT INDIAN POWER SECTOR
BL reported that Karnataka power sector is likely to be partially impacted by the Indonesian Government move to restrict coal exports.
Private se ...
Wednesday, 04 November 09
SA 2010 COAL EXPORTS SEEN AT 65M TO 68M TONS - ANALYSTS
South Africa's thermal coal exports could rise to as high as 68 million tonnes in 2010 but are more likely to be 64-65 million compared to 60 milli ...
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- Posco Energy - South Korea
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
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