Platts to launch new FOB Vancouver thermal coal price effective June 28, 2023

Platts, part of S&P Global Commodity Insights, has decided to launch a daily thermal coal FOB Vancouver netback price (basis 5,750 kcal/kg NAR, max 1% sulfur) effective June 28, 2023.

The netback reflects the price of North American thermal coal compared to Platts North East Asian thermal coal price assessment - NEAT - minus the Panamax freight rate from Roberts Bank, British Columbia, to Japan, in US dollars per metric ton, based on loading 15 to 60 days forward from the date of publication. The netback normalizes calorific values from 5,400 kcal/kg NAR to 6,200 kcal/kg NAR and cargo volumes at 75,000 mt +/- 10%. The netback follows the US daily publishing schedule, reflecting the market as of 11:30 am ET.

Platts opened a formal proposal on May 9, 2023, in a subscriber note available here.

Platts proposed to discontinue the existing FOB Vancouver 8,800 Btu/lb netback (COVCU00) and 5,000 kcal/kg NAR assessment (CTVCA00) in a subscriber note on May 23, 2023, available here.

Platts invites any questions and feedback to coal@spglobal.com and pricegroup@spglobal.com, by June 23, 2023.

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.