|By PR Newswire||
|August 4, 2014 03:34 AM EDT||
SINGAPORE, Aug. 4, 2014 /PRNewswire/ -- Platts, a leading global energy, petrochemicals, metals and agriculture information provider, launched on Friday a new daily price assessment of thermal coal as delivered to India, augmenting its suite of India-focused price references.
The new daily assessment reflects the commercial and merchantable value of thermal coal with a calorific value of 5,500 kilocalorie per kilogram (kcal/kg) net-as-received (NAR) on delivered basis to the east and west coasts of India, 30 to 60 days forward.
"This new assessment expands our product suite for the Indian market which is the world's second largest import market," said James O'Connell, Platts editorial director of coal. "The 5,500 kcal/kg NAR grade has grown enormously popular in Asia over the last two years, and India is no exception to this."
The new CFR India 5,500 NAR assessment is published in Platts Coal Trader International, Platts European Power Alert, and is also available via Platts Market Data in the Coal International (CI) category. On Friday, the commodity was assessed by Platts at $76.50/mt CFR West India and $75.65/mt CFR East India.
Platts introduced its first India-focused thermal coal assessments in August 2010, with the launch of its CFR (cost and freight) India East and India West Coasts, and associated freight rate assessments, aimed at power producers, cement manufacturers, coal traders and ship brokers. These gross-as-received (GAR) assessments include 3,800 GAR, 4,200 GAR, and 5,000 GAR; and 6,000 NAR grades for both CFR East India and CFR West India.
Platts' coal assessments are based on all-day market monitoring and data collection of bids, offers and transactions determined by buyers and sellers in the open market. Assessments are end-of-trading-day values from the physical market.
The methodology for Platts' thermal coal price assessments was developed in consultation with a cross-section of key industry players, draws on Platts' century of experience in benchmark price reporting in energy, and is underpinned by robust quality guidelines. For more information on coal, visit the Platts website www.platts.com.
About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals, metals and agriculture information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the biofuels, carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, shipping and sugar markets. A division of McGraw Hill Financial (NYSE: MHFI), Platts is based in London with more than 1000 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com.
About McGraw Hill Financial: McGraw Hill Financial (NYSE: MHFI), a financial intelligence company, is a leader in credit ratings, benchmarks and analytics for the global capital and commodity markets. Iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power and McGraw Hill Construction. The Company has approximately 17,000 employees in 29 countries. Additional information is available at www.mhfi.com.
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