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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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Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
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- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
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