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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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Saturday, 24 October 09
NTPC SEEKS ALTERNATE COAL SUPPLY FOR KAHALGAON
State-run NTPC is looking at alternate sources of coal to fire its Kahalgaon (Bihar) and Farakka (West Bengal) and power stations, which are facing ...
Saturday, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
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- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
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