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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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Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
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- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- PTC India Limited - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
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