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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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Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
Thursday, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
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- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
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