S&P Global Platts has launched a Southeast Asian thermal coal price assessment, or Platts SEAT, reflecting the price of spot thermal coal on a cost and freight (CFR) delivered South East Asia, basis Ko Sichang port, Gulf of Thailand, effective October 1, 2019.
Platts has observed a rise in demand for seaborne coal in the region due to rising power and energy consumption, with 101 million mt of thermal coal imported by Southeast Asia in 2018, and the assessment aims to reflect this growing market.
Platts first proposed to launch this assessment in a subscriber note published on August 19, 2019: http://plts.co/nXiq30ppPqk
Platts SEAT, which will be denominated in US dollars/mt and assessed daily, will reflect the tradeable value of spot cargo at 1730 SGT (0930 GMT) based on firm bids, offers and trades. In the absence of firm bids, offers or expressions of interest to trade, Platts may also consider data that may be relevant to the assessment, which may include, but is not limited to reported transactional activity heard across the market and freight information from relevant locations.
SPECIFICATION: The assessment will reflect thermal coal cargoes with a calorific value of 4,200 kcal/kg GAR. Other grades may be normalized to this basis.
LOCATION: The assessment will reflect deliveries to SE Asia ports on a CFR basis, with Ko Sichang in Thailand as the basis port. Deliveries to other regions in SE Asia may be normalized to this basis for assessment purposes.
ASSESSMENT PERIOD: Platts will assess cargoes delivering 15-60 days forward from the date of publication. For example, on October 1st, the assessment would reflect cargoes delivered from October 16th to November 30th.
VOLUME: The assessment will reflect cargoes delivered on a standard Supramax vessel.
The Platts SEAT assessment (Database Code: CSEAA00) will appear in Platts Coal Trader International, Platts Global Coal Alert (GCA) pages 410 and 425 and Platts European Power Alert (EPA) page 910.
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