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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, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
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