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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, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
Wednesday, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
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