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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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Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
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