What is CIF ARA 6,000 NAR?
Platts CIF ARA 6,000 NAR is a daily 15-60 day forward price assessment for thermal coal shipped from Colombia, Russia, South Africa, Poland, Australia or the US to the northwest European trading hub of Amsterdam, Rotterdam and Antwerp. The term ‘6,000 NAR' refers to the net calorific value (heating value) of the coal in kilocalories per kilogram.
The delivery structure of the assessment was changed, effective March 1 2013, to a 15-60 day forward delivery window basis from the date of publication, from a 90-day window previously.
The change was made as Platts believes a shorter delivery window reflects structural changes in the physical steam coal market. The emergence of a thriving Pacific import market has drastically reduced the need for the Atlantic Basin to import coals from distant destinations with longer sailing times.
CIF ARA 6,000 NAR is an important coal price assessment, reflecting the spot price of industry standard 6,000 kcal/kg NAR quality coal bought mainly by European utilities which is eventually barged from the ARA region via a network of rivers and canals to inland power plant in Belgium, the Netherlands, Germany and France.
The CIF ARA 6,000 NAR Price Assessment is available in these services.