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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, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...
Wednesday, 23 September 09
NAVA BHARAT TO ADD 300MW CAPACITY, RAISE RS1,386 CRORE (US$ 289,674,610)
The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market
...
Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...
Tuesday, 22 September 09
QINHUANGDAO COAL PRICES SURGE ON STRONG DEMAND
People's Daily Online reported that, Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last ...
Tuesday, 22 September 09
SHORT PERIOD RATE FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI just dropping by about 5 pct to 2,356 points last week. The change ...
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- Orica Mining Services - Indonesia
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- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
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- New Zealand Coal & Carbon
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- Indian Oil Corporation Limited
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- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
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- Ministry of Transport, Egypt
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- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Coal and Oil Company - UAE
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- Central Electricity Authority - India
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- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
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- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
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- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
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- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
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- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
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- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
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- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
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- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
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- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
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- Global Business Power Corporation, Philippines
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- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
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- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
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- Agrawal Coal Company - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
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- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
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- Bangladesh Power Developement Board
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- Antam Resourcindo - Indonesia
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