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09 May 2023 | 12:45 UTC
Platts, part of S&P Global Commodity Insights, proposes to launch a daily FOB Vancouver netback (basis 5,750 kcal/kg NAR, max 1% sulfur) effective June 28.
The netback would reflect the price of North American thermal coal compared to Platts NEAT minus the Panamax freight rate from Roberts Bank, British Columbia, to Japan, in dollars per metric ton, based on loading 15-60 days forward from the date of publication.
The netback would normalize calorific values from 5,400 kcal/kg NAR to 6,200 kcal/kg NAR and cargo volumes at 75,000 mt plus/minus 10%.
The assessment would follow the US daily publishing schedule, reflecting the market as of 11:30 am ET.
Further, Platts proposes to discontinue the existing FOB Vancouver netback (COVCU00) after market survey results suggested the COVCU00 heat adjustment to 8,800 Btu/lb should be discontinued due to limited liquidity of Powder River Basin 8,800 Btu/lb coal.
In addition, Platts proposes to discontinue FOB Vancouver assessment (CTVCA00) after previously seeking feedback on CTVCA00 calorific value in a Feb. 24 subscriber note posted online at https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/022423-platts-invites-feedback-on-fob-vancouver-specifications
Market survey results suggested CTVCA00, which is calculated on a cost-plus basis in the absence of transactions, should be discontinued due to limited liquidity of input Powder River Basin 9,400 Btu/lb coal.
Please send all comments, feedback, and questions to coal@spglobal.com and pricegroup@spglobal.com, by May 26.
For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.
Platts will consider all comments received and will make comments not marked as confidential available upon request.