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Monday, 06 January 14
ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS


COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessments for the east coast of India. According to press release posted on the company’s site, the Argus will assess spot prices on a weekly basis for three main grades of coal delivered to the key port of Krishnapatnam. The grades are NAR 5,500 kcal/kg, GAR 5,000 kcal/kg and GAR 4,200 kcal/kg.

The new assessments further expand Argus coverage of the key coal markets in Asia-Pacific and reflect growing interest in such price references in India amid rapid growth in imports in recent years, says Argus. Indian thermal coal imports have grown to more than 120mn t in 2013 from around 90 mn t in 2012 as demand continues to outpace supply. Coal is used to produce around 80pc of the country’s electricity, and demand for the fuel growing by more than 10pc/yr.

The press release further said, with these new price assessments, Argus provides a pricing tool for spot and term cargoes from an increasingly diverse number of sources. By providing greater visibility on price trends, the assessments are expected to help utilities and cement manufacturers in their import strategies and in managing price risk.

“We are pleased to offer customers greater insight into the price of coal delivered to one of Asia’s fastest growing import markets,” Argus chairman and chief executive Adrian Binks said. “The assessments illustrate the changing dynamics of the coal market and the importance of reliable price information in managing risk and taking advantage of these changes.”The new assessments are published weekly in Argus Coal Daily International, a global report covering coal prices in key markets, as well as through Argus Direct, an advanced online platform, Argus says in its today’s press release.



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