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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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Monday, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
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- Mintek Dendrill Indonesia
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- Directorate Of Revenue Intelligence - India
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- Orica Australia Pty. Ltd.
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- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Planning Commission, India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
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- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
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