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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, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
Monday, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...
Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...
Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...
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- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- The University of Queensland
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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