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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, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Tuesday, 08 September 09
INDIA MAY HAVE A JOINT WORKING GROUP FOR COAL WITH INDONESIA: SRIPRAKASH JAISWAL - PRESS RELEASE
Press Information Bureau of India reported in its web site that, The Coal Ministry has, in principle, agreed to set up a Joint Working Group for coa ...
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- ASAPP Information Group - India
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- Global Coal Blending Company Limited - Australia
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- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
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- Planning Commission, India
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- Larsen & Toubro Limited - India
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- Wood Mackenzie - Singapore
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- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
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- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
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- McConnell Dowell - Australia
- London Commodity Brokers - England
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- Posco Energy - South Korea
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- Baramulti Group, Indonesia
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- Bangladesh Power Developement Board
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- Price Waterhouse Coopers - Russia
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- Georgia Ports Authority, United States
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- Eastern Coal Council - USA
- Romanian Commodities Exchange
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
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- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
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- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
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- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
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- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
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- Renaissance Capital - South Africa
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- Grasim Industreis Ltd - India
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- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
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- Bukit Baiduri Energy - Indonesia
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- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
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- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
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- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
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- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
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- The State Trading Corporation of India Ltd
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- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
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- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
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- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
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- Bharathi Cement Corporation - India
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- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
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- Parliament of New Zealand
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- Lanco Infratech Ltd - India
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