Platts to launch daily CFR India assessments

Following an extensive period of consultation, Platts has decided to launch daily spot thermal coal assessments basis CFR India starting Wednesday, September 1.

The specifications for assessable thermal coal grade are as follows: a standard calorific value of 6,300 kcal/kg GAR and a maximum for ash of 16% and 1.4% maximum sulfur content for delivery to the east and west coast of India within the next 90-day period.

These specifications reflect the values of a typical shipment of South African thermal coal for delivery to the east and west coast of India. Thermal coal deliveries from other destinations meeting those specifications will also be taken into account for the assessment.

Seaborne cargo assessments consider standard panamax vessels, basis CFR India to the west coast Indian ports of Kandla, Mumbai, Mormugao, Mundra, New Mangalore, Navlakhi and Pipavav and to the east coast Indian ports of Chennai, Ennore, Gangavaram, Haldia, Karaikal, Krishnapatnam, Paradip and Vizag.

Platts will apply its market-on-close methodology and assessments will be derived from firm trades, bids and offers verified in the market to reflect the transactable value at 17.00 hours London time.

Platts will also publish two daily dry bulk freight assessments for panamax vessels between South Africa and India's east coast and west coast respectively at 17.00 hours London time.

The new daily assessments will be published in Platts Coal Trader International, on real-time news service Platts European Power Alert page EP 0910 and will also be available via Dispatch data in the CI category.

Please send any questions/comments about the new assessments to coal@platts.com or call James O'Connell on +44 (0)20 7176 6661.