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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, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Banpu Public Company Limited - Thailand
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- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
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- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
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- MS Steel International - UAE
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
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- Tamil Nadu electricity Board
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- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Bhoruka Overseas - Indonesia
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- Indian Oil Corporation Limited
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- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
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- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
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- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
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