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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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Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
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