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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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Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
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- Sarangani Energy Corporation, Philippines
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- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
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- Parliament of New Zealand
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- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
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- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
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- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
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- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
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- Wilmar Investment Holdings
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- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
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- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
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- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
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- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
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- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
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- Rashtriya Ispat Nigam Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
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- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
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- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
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- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
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- The University of Queensland
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
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- Therma Luzon, Inc, Philippines
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
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- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
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- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- McConnell Dowell - Australia
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- Kapuas Tunggal Persada - Indonesia
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- ICICI Bank Limited - India
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- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
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- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
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- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
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- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
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