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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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Wednesday, 04 November 09
BAKRIE MAY WIN BERAU COAL BID FROM ARMADIAN
The Bakrie group is likely to be selected as buyer of PT Berau Coal, the country’s fifth-largest coal producer, two people familiar with the m ...
Wednesday, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
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- PetroVietnam Power Coal Import and Supply Company
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- Central Electricity Authority - India
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- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
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- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
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- SMC Global Power, Philippines
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- Eastern Energy - Thailand
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- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
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- Electricity Generating Authority of Thailand
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- Indian Energy Exchange, India
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- SMG Consultants - Indonesia
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- White Energy Company Limited
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- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
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- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
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- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
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- Indonesian Coal Mining Association
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- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Petron Corporation, Philippines
- The Treasury - Australian Government
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Planning Commission, India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
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- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
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- Sarangani Energy Corporation, Philippines
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