SUBSCRIBER NOTE: Platts to launch European blended price thermal coal assessments

Following a period of market consultation on a proposal to launch European blended price (EBP) thermal coal assessments, first published on May 23, S&P Global Platts has decided to launch four new assessments on August 5, 2019.

The initial EBP will be calculated to reflect a blend of 75% US Illinois Basin coal, and 25% Russian coal, to a 6,000 kcal/kg NAR basis.

The EBP's composition will be reviewed on a periodic basis to ensure it represents relevant blending practices.

Platts will also publish the differential of the EBP to the current CIF ARA physical assessment (Platts code CSARM01).

Additionally, Platts has decided to publish two components of the initial EBP, a CIF ARA low sulfur blend stock assessment, and a US FOB New Orleans net forward calculation.

Platts has decided to launch on August 5, 2019, the new CIF ARA low sulfur blend stock, 5,850 kcal/kg NAR, 0.4% sulfur assessment to reflect thermal coal delivered into the ARA.

The US ILB net forward will be a calculation adding the Platts daily FOB New Orleans, 6,000 kcal/kg NAR, 3% sulfur, 7-45 day assessment with Platts daily coal Panamax freight on the US Gulf Coast–Rotterdam route, to arrive at a value reflecting US ILB coal on a delivered ARA basis.

The daily assessments will be based on trades, bids and offers and indications to trade, heard in the market from market participants.

The assessments will be published daily in Coal Trader International, Coal Trader and on Global Coal Alert pages 410, 425, 910, 912, 1010, 1013 and 1014, and Market Data category CI with a launch date of August 5, 2019.

Platts invites all questions and feedback to coal@spglobal.com and pricegroup@spglobal.com.

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.