LONDON (Commodity Online): Platts, one of the world's foremost providers of energy and metals information, announced that, on September 1, 2010, it is expanding its suite of thermal Coal price assessments to include a daily spot value for thermal coal destined for the Indian marketplace. Thermal coal is used to generate electricity.

The new price assessments, which include freight rates from South Africa to India's east and west coasts, address the needs of power producers, cement manufacturers, coal traders and ship brokers for an independent source of India-related open-market spot prices.

"India's thermal coal imports have taken the global industry by storm, changing trade flows radically and thereby increasing the need for expanded and more frequent price information," said James O'Connell, managing editor of Platts' Coal Trader International. "We're pleased to help meet the growing information needs of this important import market and bring greater transparency to the commodity's and region's pricing."

India is the third-largest producer of hard coal, but it is also one of the world's largest importers. South Africa ranks among the world's top 10 producers and top 10 exporters of coal. Platts' new assessments capture price dynamics relating to these important marketplaces.

The assessments will reflect the open-market physical spot value for standard calorific value of 6,300 kilocalories per kilogram (kcal/kg), gross as received (GAR), thermal Coal with a maximum ash content of 16% and 1.4% maximum sulfur content. They will be assessed on a cost and freight (CFR) basis delivered to specific ports on the east and west coasts of India.

Alongside the two new price assessments, known as "Platts CFR India," Platts will publish two corresponding freight rates, as follows:

-Platts CFR India East (6,300 kcal/kg): Physical open-market spot assessment of thermal coal (including the cost of freight) out of Richards Bay, South Africa and destined within a 90-day period for east coast ports in India

-Platts CFR India West (6,300 kcal/kg): Physical open-market spot assessment of thermal coal (including the cost of freight) out of Richards Bay, South Africa and destined within a 90-day period for west coast ports in India

-Platts CFR East Coast India Freight Rate: Assessments for Panamax-sized cargoes from Richards Bay, South Africa, to the ports of Chennai, Ennore, Gangavaram, Haldia, Karaikal, Krishnapatnam, Paradip and Vizag in eastern India

-Platts CFR West Coast India Freight Rate: Assessments for Panamax-sized cargoes from Richards Bay, South Africa, to the ports of Kandla, Mumbai, Mornugao, Mundra, New Mangalore, Navlakhi and Pipavav in western India

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