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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, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Bhatia International Limited - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- PTC India Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
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