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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, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
Wednesday, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
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- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Australian Coal Association
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Planning Commission, India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
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