Subscriber note: Platts launches new Capesize freight rate for met coal

Effective September 2, Platts has launched a new price assessment for spot freight rates for Capesize cargoes of metallurgical coal between Australia and China. The assessment enables calculation of FOB Australia netbacks from CFR China for coal shipped on Capesize vessels. For met coal, Platts continues to calculate freight netbacks from China using assessed Panamax spot freight rates for dry bulk carriers on the day of assessment. The new Capesize assessment is expressed in US dollars per metric ton, and reflects cargoes of 150,000 mt loading seven-45 days forward from the day of assessment, between Hay Point, eastern Australia, and Qingdao, north China. Please send any further feedback and questions to julien.hall@platts.com, and copy cokingcoal@platts.com