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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, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
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- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
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