Platts launches FOB Black Sea thermal coal assessment on Aug 11

Platts, part of S&P Global Commodity Insights, has launched a weekly assessment for FOB Black Sea thermal coal, effective Aug. 11, following a period of industry consultation and feedback.

Platts opened a formal proposal on May 10, in a subscriber note available here:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/051023-platts-proposes-fob-black-sea-thermal-coal-assessment

Platts opened a formal decision note on July 14, in a subscriber note available here:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/071423-platts-to-launch-fob-black-sea-thermal-coal-assessment-aug-11

The assessment will reflect the value of thermal coal based on spot transactions for cargoes loading 30- to 60- days forward from the date of publication. The assessment will be basis 6,000 kcal/kg NAR, normalized to 50,000 mt cargo size, and use Taman Dry Bulk Terminal as a basis port, although coal loading at other Black Sea ports will be considered for the assessment.

Platts will consider cargo sizes from 30,000-150,000 mt for normalization in the assessment and consider coals with calorific value of 5,800-6,100 kcal/kg NAR for normalization. The assessment will consider coals with typical sulfur value of 0.5%, typical ash value of 10%, and typical moisture value of 10%. Maximum sulfur value of 1%, maximum ash value of 16%, and maximum moisture of 14% will also be considered.

The assessment will have the following code: CBSEA00.

Additionally, a monthly average price will be published with the code CBSEA03, and a quarterly average price will be published using the code CBSEA04.

The assessment will be published on a dollar per metric ton basis and follow the London weekly publishing schedule time stamp with the market close of 4:30 pm London time, every Friday.

Please send all comments or questions 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.