COAL TRADER INTERNATIONAL

Volume 21 / Issue 83 / Friday, April 30, 2021

Chinese seaborne thermal coal demand upbeat Daily prompt physical thermal coal assessments, Apr 30

amid rising domestic prices CV (kcal/kg) Window Platts symbol $/mt Chg

Asia-Pacific
■■India-bound Indonesian coal being reoffered Northeast Asia
■■Demand seen cooling amid Labor Day holidays Platts NEAT 5,750 NAR 15-60 day JKTCA00 83.77 -0.47

Singapore—Chinese demand for seaborne thermal coal remained
upbeat April 30, but is expected to cool off as the country enters into the
Labor Day holidays, while Indian buying was lackluster due to high
South Asia
Platts SEAT 4,200 GAR 15-60 day CSEAA00 69.55 +0.70
CFR Pakistan 5,750 NAR 30-60 day TPKCA00 97.00 -1.00
CFR Bangladesh 5,000 GAR 30-60 day TCBAN00 96.25 +1.85
Sulfur Differential TCSDA00 0.25

freight rates and the worsening COVID-19 situation, market sources said.
Inquiries for Indonesian June-loading cargoes were heard to have
gained steam, but Indonesian coal supply remained tight.
(continued on page 12)
News Headlines
China
PCC 6 (CFR South China) 3,800 NAR 30-60 day PCCPQ00 67.55 +0.60
PCC 7 (CFR South China) 4,700 NAR 30-60 day PCCPP00 87.75 +1.60
PCC 8 (CFR South China) 5,500 NAR 15-60 day PCCSC00 101.55 +0.90
Yuan/mt
PCC 6 (CFR South China) 3,800 NAR 30-60 day PCCPR00 435.11 +3.93
PCC 6 (VAT included) 3,800 NAR 30-60 day PCCPS00 491.67 +4.44
PCC 7 (CFR South China) 4,700 NAR 30-60 day PCCPO00 565.22 +10.39
PCC 7 (VAT included) 4,700 NAR 30-60 day PCCFB00 638.70 +11.74
PCC 8 (CFR South China) 5,500 NAR 15-60 day PCCSD00 654.11 +5.89
PCC 8 (Duty & VAT included) 5,500 NAR 15-60 day PCCFA00 739.14 +6.65

Turkey’s March thermal coal imports up 10% Indonesia

FOB Kalimantan (Geared Supramax) 4,200 GAR 7-45 day CSBKI00 53.50 +0.50
on month on cement sector demand FOB Kalimantan (Geared Supramax) 3,800 GAR 7-45 day CSCKJ00 40.30 +0.25
FOB Kalimantan (Geared Supramax) 5,900 GAR 90-day CSAKH00 89.00 +0.80
■■Russia recovers place as key supplier
FOB Kalimantan (Geared Supramax) 5,000 GAR 90-day CSAKI00 73.70 +1.50
■■Construction-related demand: sources Kalimantan Floating Crane AKFCA00 1.00

Australia
Spain’s April power generation up 17%, FOB Newcastle 20% Ash 5,500 NAR 7-45 day AAVUW00 55.95 -0.70
but remains 3% down on 2019 FOB Newcastle 23% Ash 5,500 NAR 7-45 day AAVVB00 54.50 -0.70
FOB Newcastle Ash Differential AAVVA00 0.48
■■May CSS just above zero on high emission, gas prices
India
■■Coal-fired generation sees 10% drop on year
CFR India West (Gearless Panamax) 5,500 NAR 30-60 day CIWCI00 81.95 -0.40
CFR India West (Gearless Panamax) 5,000 GAR 30-60 day TCAKP00 91.10 +1.60
Asia met coal PLV FOB prices fall CFR India West (Gearless Panamax) 4,200 GAR 30-60 day TCAKT00 70.90 +0.60

as PLV buy tender concludes lower CFR India East (Gearless Panamax)
CFR India East (Gearless Panamax)
5,500 NAR
5,000 GAR
30-60 day
30-60 day
CIECI00 82.60 -0.40
TCAKJ00 89.65 +1.60
■■GLV done at $105/mt FOB Australia for PLV tender CFR India East (Gearless Panamax) 4,200 GAR 30-60 day TCAKU00 69.45 +0.60

■■Positive outlook for demand in China Atlantic Basin

Europe
SEAT vs FOB KALIMANTAN BASIS 4,200 kcal/kg GAR CIF ARA 6,000 NAR 15-60 day CSARM01 78.75 +2.25
European Blended Price (EBP) 6,000 NAR 15-60 day TEBPA00 75.00 +0.30
($/mt) EBP/CIF ARA Differential 6,000 NAR 15-60 day TEBPB00 -3.75 -1.95
80
South Africa
70 FOB Richards Bay 5,500 NAR 7-45 day AAXEX00 69.45 +1.60

North America
60 FOB Baltimore 3%S 6,900 NAR 15-60 day CUATB04 69.00 0.00
SEAT CFR
FOB Hampton Roads 1%S 6,000 NAR 15-60 day CUAEA04 87.45 +0.40
50 FOB Kalimantan FOB New Orleans 3%S 6,000 NAR 15-60 day CUAFA04 52.75 0.00
FOB Long Beach 0.5%S 6,000 NAR 15-60 day CTLBA00 72.60 +0.90
40 FOB Oakland 0.5%S 6,000 NAR 15-60 day CTOKA00 69.40 +0.30
FOB Vancouver 0.5%S 5,000 NAR 15-60 day CTVCA00 47.20 +0.10
30 Note: In the absence of transactional data, these assessments represent theoretical value
for export.
20
Apr-20 Jul-20 Sep-20 Oct-20 Dec-20 Mar-21 Apr-21

Source: S&P Global Platts

www.platts.com www.twitter.com/PlattsCoal
Coal Trader International Friday, April 30, 2021

Atlantic thermal coal demand rises slightly Weekly prompt physical thermal coal prices, Apr 30
Code Kcal/kg Basis Sulfur $/mt Change
with price increases CIF Med 75kt CTCMT04
6,000 NAR 0.8% 67.00 -1.00
CIF Med 45kt CTCMA04
6,000 NAR 0.8% 74.00 -1.00
■■More interest from Med buyers FOB Colombia CSABZ00
6,000 NAR 0.8% 69.00 +1.50
FOB Russia Baltic CSAKC00
6,000 NAR 0.5% 72.00 +4.30
■■CIF ARA prices touch fresh 2021 high
FOB Russia Pacific CSAKG00
6,300 GAR 0.3% 95.00 +2.00

London—Atlantic thermal coal markets saw a slight uptick in demand
in the week ended April 30 in the form of restocking in Northwest
Europe and fresh interest in the Med region, while a high freight
environment also supported prices.
In the Mediterranean region, there was more positive sentiment
over the week stemming from renewed demand, primarily from the
construction industry.
“[Turkey-based end-users], especially construction companies are
looking to start replenishing their coal stocks,” a Turkey-based trader
said. “It seems that the [pandemic] restrictions won’t be reintroduced
as we previously thought so works can still go ahead in the country.”
The trader indicated interest for tonnage was for both May and
June delivery and in particular for Russia-origin material.
Platts physical thermal coal netbacks, Apr 30
Code CV Basis Sulfur $/mt Chg
(kcal/kg)
Coal ($/mt)
CIF ARA CSARM01 6,000 NAR 1.0% 78.75 +2.25
Platts NEAT JKTCA00 5,750 NAR 1.0% 83.77 -0.47
CFR India West CIWCI00 5,500 NAR 0.8% 81.95 -0.40
Panamax Freight ($/mt)
USEC-Rotterdam CDBUR00 15.75 0.00
Mobile-Rotterdam CDMAR00 20.50 0.00
Roberts Bank-Japan CDRBK00 25.60 +0.30
Richards Bay-India West CSAKL00 21.25 0.00
Penalties & Premia ($/mt)
Per 0.1% Sulfur (USGC) COPAP00 0.32 +0.16
Total S discount (USGC) COPBP00 6.08 +3.04

Little noteworthy activity was mentioned throughout other Netbacks ($/st)

countries in the Med as restrictions stayed in place.
On the price side, indications for CIF Med prices remained steady
over the week, with CIF Med 75,000 mt indications heard at $66-68/mt
and for CIF Med 45,000 mt at $72-75/mt.
S&P Global Platts assessed the CIF Med 75,000 mt price at $67/mt and
FOB US East Coast* COUSC00 12,500 GAR 1.0% 63.51 +2.27
FOB US Gulf Coast* COUGU00 11,500 GAR 2.9% 48.31 -0.67
FOB Vancouver* COVCU00 8,800 GAR 0.8% 42.32 -0.56
Netbacks ($/mt)
FOB Richards Bay CSEUW00 6,000 NAR 0.8% 69.10 -0.43
* CV = Btu/lb

CIF Med 45,000 mt at $74/mt, both down $1/mt on week. This was the first
time the prices have eased in five weeks amid escalating freights rates.
Platts assessed the New Orleans, USGC-to-Iskenderun, Turkey,
freight rate at $25.50/mt, down 75 cents on week.
European CIF ARA thermal coal prices edged higher over the week
a high freight rates continued to add support, while colder-than-
normal weather also supported physical restocking activities.
Physical 6,000 kcal/kg NAR prices rose to $76.50/mt on April 29, up
$1.50 on the week and a fresh year-to-date high.
Sources expected that the restocking activity would continue to be
met almost exclusively with Russian coal via the Baltic, particularly
given the high freight environment which would keep other origins
uncompetitive.

GLOBAL COAL PHYSICAL PRICE SNAPSHOT, APRIL 30 $/mt, kcal/kg)

FOB Baltic Russia 6,000 NAR* 72.00

FOB Russia Pacific 95.00
CIF ARA 6,000 NAR 78.75
European Blended Price 6,000 NAR 75.00
FOB Baltimore 6,000 NAR 60.00
FOB Hampton Roads 6,000 NAR 87.45 CIF Med 75kt 6,000 NAR* 67.00
Platts NEAT 5,750 NAR 83.77
FOB New Orleans 6,000 NAR 52.75 CIF Med 45kt 6,000 NAR* 74.00
FOB Long Beach 6,000 NAR 72.60
CFR Pakistan 5,750 NAR 97.00 PCC 8 (CFR South China) 5,500 NAR 101.55
FOB Oakland 6,000 NAR 69.40
CFR India East 5,500 NAR 82.60
FOB Vancouver 5,000 NAR 47.20 CFR Bangladesh 5,000 GAR 96.25
CFR India West 5,500 NAR 81.95
CFR India East 4,200 GAR 69.45 Platts SEAT 4,200 GAR 69.55
CFR India West 4,200 GAR 70.90
FOB Colombia 6,000 NAR* 69.00
FOB Kalimantan 4,200 GAR 53.50

FOB Richards Bay 5,500 NAR 69.45 FOB Newcastle 5,500 NAR 55.95
FOB Richards Bay 6,000 NAR 69.10

* Weekly price, assessed Fridays

Source: S&P Global Platts

© 2021 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 2
Coal Trader International Friday, April 30, 2021

CIF ARA coal futures followed suit, a move which was also in line Spot dry bulk freight assessments, Apr 30
Platts symbol $/mt Chg
with the broader European energy complex as natural gas, carbon Capesize
allowances and crude oil futures also strengthened intraweek. Australia-China CDANC00 15.75 +0.15
In South Africa, FOB Richards Bay prices jumped following a Queensland-Japan CIGAJ00 17.05 +0.15

derailment which left the rail lines serving the export terminal
suspended. The derailment occurred on April 28, and there was
currently no estimated date for when services could resume, although
some sources pointed to a date as early as the coming week.
The impact on prompt pricing was evident as physical 6,000 kcal/
kg NAR traded as high as $98/mt FOB for May, being bid at $92.25/mt
the day before the incident.
New South Wales-Korea CINAK00 18.90 +0.20
Bolivar-Rotterdam CIBCR00 16.40 +0.30
Roberts Bank-Japan CDRKJ00 20.10 +0.20
Panamax
Richards Bay-India West CSAKL00 21.25 0.00
Kalimantan-India West CSAKP00 16.40 +0.10
Richards Bay-India East CSAKN00 21.90 0.00
Kalimantan-India East CSAKR00 14.20 +0.15

Stockpiles at the Richards Bay Coal Terminal were measured at 3.1
million mt, down 300,000 mt on the week, but sources said there
could be sufficient stocks to cover until fresh coal would begin arriving
at the terminal.
— Joseph Clarke, Sarah Matthews
Ventspils-Rotterdam CILTN00 9.25 0.00
USEC-India CDBUI00 42.00 0.00
USEC-Rotterdam CDBUR00 15.75 0.00
Mobile-Rotterdam CDMAR00 20.50 0.00
Roberts Bank-Japan CDRBK00 25.60 +0.30
Australia-China CDBFA00 21.55 +0.25
Australia-India CDBFAI0 24.30 +0.30

Supramax

Turkey’s March thermal coal imports up 10% Richards Bay-Port Qasim

on month on cement sector demand
■■Russia recovers place as key supplier
■■Construction-related demand: sources
London—Turkey’s thermal coal imports in March were up 10% month
on month to 2.8 million mt, which was 1% higher year on year,
according to Turkish Statistical Institute data on April 30.
The increase from February was driven mainly by the cement
industry after an easing of COVID-19 restrictions, market
participants said.
South Kalimantan-Krishnapatnam
CRBPB00 26.60 -0.05
CISKK00 18.75 +0.15
Thermal coal implied freight table, Apr 30
Basis 5,500 kcal/kg NAR
Origin/delivery hub NE Asia SE Asia NW Europe India Med South China
FOB Newcastle (20% Ash) 24.18 39.68 16.24 26.65 5.47 45.60
FOB Kalimantan -5.75 9.75 -13.69 -3.28 -24.46 15.67
FOB Colombia 16.88 32.38 8.94 19.35 -1.83 38.30
FOB Russia Baltic 14.13 29.63 6.19 16.60 -4.58 35.55
FOB Russia Pacific -6.95 8.55 -14.89 -4.48 -25.66 14.47
FOB Richards Bay 10.68 26.18 2.74 13.15 -8.03 32.10
FOB Baltimore 25.13 40.63 17.19 27.60 6.42 46.55
FOB New Orleans 31.78 47.28 23.84 34.25 13.07 53.20
FOB Vancouver 28.21 43.71 20.27 30.68 9.50 49.63

Coal Trader International is published every business day by Platts, a
division of S&P Global, registered office: 20 Canada Square, Canary
Wharf, London, E14 5LH.
Officers of the Corporation: Charles E. Haldeman, Jr., Non-Executive
Chairman; Doug Peterson, President and Chief Executive Officer;
COAL TRADER INTERNATIONAL Ewout Steenbergen, Executive Vice President, Chief Financial Officer;
Steve Kemps, Executive Vice President, General Counsel
ISSN: 1746-8914
© 2021 S&P Global Platts, a division of S&P Global Inc. All rights
reserved.
Managing Editors
The names “S&P Global Platts” and “Platts” and the S&P Global Platts
Deepak Kannan: +65-6530-6487, Deepak.Kannan@spglobal.com
Andrew Moore: +1-713-655-2295, andrew.moore@spglobal.com logo are trademarks of S&P Global Inc. Permission for any commercial
use of the S&P Global Platts logo must be granted in writing by S&P
Global Inc.
Editors
Joseph Clarke: Joseph.Clarke@spglobal.com You may view or otherwise use the information, prices, indices,
Jenny Ma: jenny.ma@spglobal.com assessments and other related information, graphs, tables and images
Sarah Matthews: sarah.matthews@spglobal.com (“Data”) in this publication only for your personal use or, if you or your
Fred Wang: fred.wang@spglobal.com company has a license for the Data from S&P Global Platts and you are
an authorized user, for your company’s internal business use only. You
may not publish, reproduce, extract, distribute, retransmit, resell,
Global Director of Generating Fuels
create any derivative work from and/or otherwise provide access to
Ira Joseph
the Data or any portion thereof to any person (either within or outside
your company, including as part of or via any internal electronic
system or intranet), firm or entity, including any subsidiary, parent, or
Platts President other entity that is affiliated with your company, without S&P Global
Saugata Saha Platts’ prior written consent or as otherwise authorized under license
from S&P Global Platts. Any use or distribution of the Data beyond the
express uses authorized in this paragraph above is subject to the
payment of additional fees to S&P Global Platts.
Advertising Manager, Advertisement Sales
Tel: +1-720-264-6618 Bob Botelho S&P Global Platts, its affiliates and all of their third-party licensors
disclaim any and all warranties, express or implied, including, but not
Contact Platts support: support@platts.com; Americas: +1-800-752-8878;
limited to, any warranties of merchantability or fitness for a particular
Europe & Middle East: +44-20-7176-6111; Asia Pacific: +65-6530-64300
purpose or use as to the Data, or the results obtained by its use or as
to the performance thereof. Data in this publication includes
independent and verifiable data collected from actual market
participants. Any user of the Data should not rely on any information
and/or assessment contained therein in making any investment,
trading, risk management or other decision. S&P Global Platts, its
affiliates and their third-party licensors do not guarantee the
adequacy, accuracy, timeliness and/or completeness of the Data or
any component thereof or any communications (whether written, oral,
electronic or in other format), and shall not be subject to any damages
or liability, including but not limited to any indirect, special, incidental,
punitive or consequential damages (including but not limited to, loss
of profits, trading losses and loss of goodwill).
ICE index data and NYMEX futures data used herein are provided under
S&P Global Platts’ commercial licensing agreements with ICE and with
NYMEX. You acknowledge that the ICE index data and NYMEX futures
data herein are confidential and are proprietary trade secrets and data
of ICE and NYMEX or its licensors/suppliers, and you shall use best
efforts to prevent the unauthorized publication, disclosure or copying
of the ICE index data and/or NYMEX futures data.
Permission is granted for those registered with the Copyright
Clearance Center (CCC) to copy material herein for internal reference
or personal use only, provided that appropriate payment is made to
the CCC, 222 Rosewood Drive, Danvers, MA 01923, phone +1-978-750-
8400. Reproduction in any other form, or for any other purpose, is
forbidden without the express prior permission of S&P Global Inc. For
article reprints contact: The YGS Group, phone +1-717-505-9701 x105
(800-501-9571 from the US).
For all other queries or requests pursuant to this notice, please
contact S&P Global Inc. via email at support@platts.com.

© 2021 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 3
Coal Trader International Friday, April 30, 2021

Recent heards in the thermal coal market

Date Heard type Product (kcal/kg) Price (per mt) Volume size Delivery period Source Additional
reported (mt) notes
30-Apr Offer CIF ARA 6000 NAR $80 50,000 June globalCOAL
30-Apr Bid CIF ARA 6000 NAR $77.5 50,000 June Braemar
30-Apr Bid FOB Richards Bay 6000 NAR $94.55 50,000 June globalCOAL
30-Apr Offer FOB Richards Bay 6000 NAR $96.75 50,000 June globalCOAL
30-Apr Offer FOB Richards Bay 6000 NAR $124 50,000 May globalCOAL
30-Apr Bid FOB Richards Bay 6000 NAR $100 50,000 May globalCOAL
30-Apr Trade FOB Colombia 6000 NAR $72 40,000 May Trader
30-Apr Bid CIF ARA 6000 NAR $73.5 50,000 June globalCOAL
30-Apr Trade FOB Kalimantan 5500 NAR $87.5 55,000 2H May Trader Supramax
30-Apr Trade FOB Kalimantan 4500 NAR $75.5 75,000 2H May Trader Panamax
30-Apr Trade FOB Kalimantan 4300 NAR $71.3 75,000 1H May Trader Panamax
30-Apr Indication FOB Kalimantan 3400 NAR $40 55,000 May Trader Supramax
30-Apr Indication FOB Kalimantan 3800 NAR $51.5 55,000 May Trader Supramax
30-Apr Indication FOB Kalimantan 4700 NAR $76 75,000 May Trader Panamax
30-Apr Indication FOB Kalimantan 5500 NAR $83 75,000 May Trader Panamax
30-Apr Indication FOB Newcastle 5500 NAR $54 130,000 May Trader Capesize
30-Apr Indication CFR China 5500 NAR $99 130,000 May Trader Capesize
30-Apr Trade FOB Kalimantan 4200 GAR $54.5 75,000 May Market Panamax
30-Apr Offer FOB Newcastle 5500 NAR $55-56 130,000 June Trader Capesize
30-Apr Bid FOB Newcastle 5500 NAR $54-55 130,000 June Trader Capesize
30-Apr Offer FOB Kalimantan 5800 GAR $87.5 55,000 Aug Trader Supramax
30-Apr Offer FOB Kalimantan 5500 NAR $84 55000/75000 May Trader Geared vessel
30-Apr Offer FOB Kalimantan 6000 NAR $92 55000/75000 May Trader Geared vessel
30-Apr Trade FOB Kalimantan 5500 NAR $88 55000/75000 Jun Trader Geared vessel,
1.4% sulfur, 6% ash
30-Apr Bid FOB Kalimantan 3800 GAR $40 55,000 June Trader Supramax
30-Apr Offer FOB Newcastle 5500 NAR $55.50-56 130,000 2H May/Jun Trader Capesize
30-Apr Trade FOB Newcastle 5500 NAR $54.5 130,000 2H May Trader Capesize
30-Apr Offer FOB Kalimantan 3800 NAR $52.5 55,000 May Trader Supramax
30-Apr Offer FOB Kalimantan 4700 NAR $75.75 75,000 Aug Trader Panamax
30-Apr Offer FOB Kalimantan 4200 GAR $55-56 55000/75000 May Market Geared vessel
30-Apr Offer FOB Kalimantan 3700 NAR $53 75,000 May Market Panamax
30-Apr Offer FOB Kalimantan 4200 GAR $54 55,000 May Market Supramax
30-Apr Offer FOB Kalimantan 4200 GAR $55 55,000 May Market Supramax
30-Apr Bid FOB Kalimantan 4200 GAR $52 55,000 June Market Supramax
30-Apr Bid FOB Kalimantan 4200 GAR $53 75,000 May Market Panamax
29-Apr Bid FOB Richards Bay 6000 NAR $97.5 50,000 May globalCOAL
29-Apr Bid FOB Richards Bay 6000 NAR $98 50,000 May globalCOAL
29-Apr Trade FOB Richards Bay 6000 NAR $98 50,000 May globalCOAL
29-Apr Trade FOB Richards Bay 6000 NAR $93 50,000 June globalCOAL
29-Apr Bid FOB Richards Bay 6000 NAR $93 50,000 June globalCOAL
29-Apr Offer FOB Richards Bay 6000 NAR $123.45 50,000 June globalCOAL
29-Apr Offer FOB Richards Bay 6000 NAR $93 50,000 June globalCOAL
29-Apr Offer CIF ARA 6000 NAR $78 50,000 June globalCOAL
29-Apr Offer CIF ARA 6000 NAR $77 50,000 June globalCOAL
29-Apr Bid CIF ARA 6000 NAR $73 50,000 June globalCOAL
29-Apr Indication FOB NOLA 6000 NAR $53.45 0 June Broker
29-Apr Indication FOB NOLA 6000 NAR $52 0 June Broker
29-Apr Indication FOB Baltimore 6900 NAR $68 0 June Broker
29-Apr Indication FOB Baltimore 6900 NAR $70 0 June Broker
29-Apr Trade FOB Kalimantan 5800 GAR $87 55,000 2H May Trader Supramax, 17% ash
29-Apr Offer FOB Kalimantan 4100 GAR $49-50 55,000 May Trader Supramax
29-Apr Offer FOB Kalimantan 5000 GAR $74.5 55000/75000 2H May Producer Geared vessel

© 2021 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 4
Coal Trader International Friday, April 30, 2021

Thermal coal forward curves, Apr 30

Bid Ask Midpoint* Platts symbol Change* % Change
CIF ARA 6,000 NAR
May-21 77.15 77.45 77.30 CSAM001 +1.25 +1.64
Jun-21 77.55 77.85 77.70 CSAM002 +1.30 +1.70
Q3-21 77.55 77.85 77.70 CSAQ001 +1.30 +1.70
Q4-21 78.05 78.35 78.20 CSAQ002 +0.95 +1.23
Q1-22 77.35 77.65 77.50 CSAQ003 +0.95 +1.24
Q2-22 74.95 75.25 75.10 CSAQ004 +0.95 +1.28
2022 75.90 76.20 76.05 CSAY001 +0.65 +0.86
2023 73.20 73.50 73.35 CSAY002 +0.05 +0.07
2024 72.60 72.90 72.75 CSAY003 +0.05 +0.07
*Fields are calculated.

YEARAHEAD TTF vs DUTCH YA COAL SWITCHING PRICE

Russia was the main source of the imports , supplying 1.4 million
mt which was up 61% from February and 99% from March 2020. (Eur/MWh)
25
Colombia, typically Turkey’s main source of material, supplied 1.3
million mt, up 31% month on month and down 31% year on year.
South Africa’s shipments to Turkey fell for the fifth consecutive 20
month, down 67% month on month to 5,000 mt, which was 92% lower Dutch TTF
CSP
year on year. Last October, South Africa sent 617,263 mt to Turkey.
Looking forward, sources expected a further rise in volumes due to 15
less competitively priced petcoke, which has seen consumers switch
to thermal coal.
— Sarah Matthews
10
May-20 Jul-20 Sep-20 Oct-20 Dec-20 Mar-21 Apr-21

Efficiency used is 50% for gas plants and 40% for Dutch coal plants. Platts CSPI is the
Colombian coal exports double on week: Kpler theoretical threshold at which gas is more competitive than coal in power generation. When
the gas price is higher than the CSPI, CCGTs are more expensive to run than coal-fired plants.
Source: S&P Global Platts
■■Roughly 1.71 million mt exported in week ended April 28
■■Over 15% of shipments headed to Turkey
GERMAN CLEAN DARK SPREADS vs CLEAN SPARK SPREADS
Houston—Colombia exported roughly 1.71 million mt of coal on 22 coal (Eur/MWh)
carriers in the week ended April 28, more than doubling the 14 ships 10
carrying 844,926 mt in the previous week, according to data from
5
vessel tracking software Kpler.
CDS 45%
Over 15% of the exports, or 260,018 mt of coal, are headed to 0
CSS 50%
Turkey, while 186,498 mt and 174,012 mt were shipped to the CSS 45%
-5
Netherlands and Chile, respectively, according to the data. An additional CDS 35%
172,441 mt was exported to Brazil and 169,416 mt went to Malta. -10
In the week ended April 21, the top export destinations were Turkey,
-15
at 173,488 mt; Chile, at 162,544 mt; and Singapore, at 144,494 mt.
Drummond, Colombia’s largest coal exporter, shipped out roughly -20
MA MA +1 QA QA +1 YA
775,776 mt of coal in the latest week, up from 509,320 mt in the
previous week. Source: S&P Global Platts

Cerrejon exported 694,299 mt of coal, up from 233,860 mt a week

earlier, while Glencore shipped out 53,828 mt, up from zero in the prior
week. An additional 189,294 mt was exported by undisclosed sellers,
up from 101,746 mt in the prior week.
According to data from government statistics agency DANE,
Colombian coal exports were at an 11-year low 71.19 million mt in 2020,
down 4.7% from 2019 and the lowest since 68.68 million mt in 2009.
Export receipts from coal were a combined $4.17 billion, or $58.52/mt
FOB in 2020, down from $5.67 billion, or $75.89/mt a year earlier.
Power price fundamentals
30-Apr-21 Change
Brent oil (month ahead – $/b) AAYES00 67.240 -1.040
Coal CIF ARA (year ahead – $/mt) CSAY001 76.050 +0.650
EEX EUA carbon (front December – Eur/mt) EADLP00 48.840 +0.820
UK NBP gas (month ahead – p/th) NGAAE00 60.000 +2.325
Dutch TTF gas (year ahead – Eur/MWh) GTFTZ00 19.875 +0.450

© 2021 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 5
Coal Trader International Friday, April 30, 2021

Through February, exports were at 11.26 million mt, down 46.8% 7DAYAHEAD TEMPERATURE DEVIATION FORECAST
from the same period a year earlier and the lowest since 10.33 million
mt was exported in the first two months of 2013, according to the
latest DANE data. Cumulative receipts were a combined $696.02
million, or $61.81/mt, compared with $1.29 billion, or $60.83/mt, in the
same period a year earlier.
— Tyler Godwin

Glencore progresses with strategy to quit coal

as Q1 output slumps
■■Thermal coal output falls in Q1
■■Prodeco transferring back to Colombian state
■■Managing coal to meet emissions targets

London—Diversified miner Glencore’s coal production from own

sources fell 23% on the year in the first quarter at 24.5 million mt, as the
company progressed with its strategy to pull out of the coal business.
Production varied according to the coal type. The company
reported a 33% year-on-year rise in coking coal output – used in
steelmaking – at 2.4 million mt, while semi-soft coking coal output
dropped 25% at 1.2 million mt.
Output of thermal coal, typically used in power generation, fell
27% from a year earlier at 20.9 million mt, Glencore said in a Q1
production report.
The fall of 7.5 million mt from the same period a year ago reflected
the care and maintenance status that continued at the miner’s
Prodeco asset in Colombia, where production has now ceased, and
market-related production cuts in Australia, actioned in second-half
2020, Glencore said. Severe wet weather in Australia in March
temporarily disrupted production, it said.
Prodeco has commenced the process of handing its mining
contracts back to the state, Glencore said. The mines will remain on
care and maintenance until the formal process of relinquishing the
contracts is complete.
At Cerrejon in Colombia, attributable production of 1.8 million mt
was 200,000 mt, 10%, lower than Q1 2020, reflecting staff absences
due to COVID-19 related self isolation or quarantine, and the restart and
ramp-up of operations following resolution of a strike in late 2020.
The company maintained full-year coal production guidance at 113
million mt, slightly higher than 2020 output of 106 million mt.
Production had fallen from 140 million mt in 2019.
Relevant coal-grade prices averaged 26% higher in Q1 than in Q1
2020, according to the Glencore report.
Coal portfolio, emissions reduction
In a March report, Glencore said its planned reduction in carbon
emissions will be underpinned by the managed reduction of its coal
portfolio.
The company is targeting a 40% reduction in total emissions by
2035 on 2019 levels and its ambition, with a supportive policy
environment, is to be a net-zero total emissions company by 2050.
“We expect our coal portfolio to produce no more than 85 million
Source: S&P Global Platts, Custom Weather
mt by 2035, down 40% from 2019 levels. By 2050, our only remaining
coal mines, if any, will likely be in Australia, with any post-2050
production, including for metallurgical purposes, assumed to be
neutralised directly through carbon capture, utilisation and storage, or
indirectly through offsets,” the company said in the report.
Glencore added that the most significant contributor to its Scope 3
emissions is its customers’ usage of the fossil fuels it produces,
predominantly coal.
“Recent years have seen significant declines in use of coal for
power generation in Europe, largely displaced by natural gas and LNG.
In the Asia-Pacific region, the key destination for our Australian and
South African coal production, coal is the predominant source of fuel
for power generation and, we believe, will remain a vital transition fuel
until such time as alternative infrastructure can be approved, financed
and constructed,” it said.
— Diana Kinch
Spain’s April power generation up 17%,
but remains 3% down on 2019
■■May CSS just above zero on high emission, gas prices
■■Coal-fired generation sees 10% drop on year
■■Hydro output falls 11% as stocks fall below 10-year norms
London—Spanish power generation in April was up 17% on the year,
with the year-ago month undergoing a national lockdown to combat

© 2021 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 6
Coal Trader International Friday, April 30, 2021

Platts daily metallurgical coal assessments, Apr 30

Asia-Pacific coking coal ($/mt)
Platts FOB Australia Change Platts CFR China Change Platts CFR Change
symbol symbol symbol India
HCC Peak Downs Region HCCGA00 107.50 -1.50 HCCGC00 129.00 -1.25 HCCGI00 131.80 -1.20
Premium Low Vol PLVHA00 106.50 -1.50 PLVHC00 230.00 +1.00 PLVHI00 130.80 -1.20
Low Vol HCC HCCAU00 102.25 -1.00 HCCCH00 213.00 +3.50 HCCIN00 126.55 -0.70
Low Vol PCI MCLVA00 104.75 -0.50 MCLVC00 135.00 +2.00 MCLVI00 129.05 -0.20
Mid Tier PCI MCLAA00 103.75 -0.50 MCLAC00 132.00 +2.00 MCVAI00 128.05 -0.20
Semi Soft MCSSA00 99.00 -0.25 MCSSC00 122.50 +1.00 MCSSI00 123.30 +0.05
Premium Low Vol China Netback PLVHD00 208.45 +0.75

TSI coking coal indices ($/mt)

TSI Premium Hard (PHCC) FOB Australia TS01034 106.50 -1.50

Asia-Pacific brand relativities ($/mt)

Platts FOB Australia Spread Platts CFR China Spread Spread
symbol vs PLV symbol vs PLV vs Low Vol HCC
FOB Australia CFR China CFR China
Premium Low Vol PLVHA00 106.50 100.00% PLVHC00 230.00 100.00%
Peak Downs HCPDA00 107.50 100.94% MCBAA00 129.00 56.09%
Saraji HCSAA00 106.50 100.00% MCBAB00 128.00 55.65%
Oaky North HCOKA00 106.25 99.77% MCBAR00 127.50 55.43%
Illawarra HCIWA00 112.50 105.63% MCBAH00 123.00 53.48%
Moranbah North HCMOA00 112.50 105.63% MCBAG00 123.00 53.48%
Goonyella HCGOA00 112.50 105.63% MCBAE00 123.00 53.48%
Peak Downs North HCPNA00 111.50 104.69% MCBAJ00 122.00 53.04%
Goonyella C HCGNA00 111.50 104.69% MCBAI00 122.00 53.04%
Riverside HCRVA00 111.50 104.69% MCRVR00 122.00 53.04%
GLV HCHCA00 105.00 98.59% MCBAF00 120.50 52.39%
Low Vol HCC HCCCH00 213.00 92.61% 100.00%
Lake Vermont HCC MCBAN00 114.50 53.76%
Carborough Downs MCBAO00 112.50 52.82%
Middlemount Coking MCBAP00 104.50 49.06%
Poitrel Semi Hard MCBAQ00 101.50 47.65%
April 30 freight rates. Australia to China: Panamax = $21.55/mt Capesize = $15.75/mt.
For further information about these assessments, please refer to the specifications guide:
https://www.spglobal.com/platts/en/our-methodology/methodology-specifications/metals/metallurgical-coal-methodology or contact PL_CokingCoal@spglobal.com.

Atlantic coking coal ($/mt)

Platts FOB US
symbol East Coast Change VM Ash S
Low Vol HCC AAWWR00 162.00 0.00 19.25% 8.25% 0.95%
High Vol A AAWWS00 162.00 0.00 32.25% 7.5% 0.95%
High Vol B AAWWT00 147.00 0.00 36.00% 8.00% 1.00%
Premium Low Vol HCC CFR NWE PLVHE00 130.40 -1.35 21.50% 9.30% 0.50%
Premium Low Vol FOB Australia PLVHA00 106.50 -1.50 21.50% 9.30% 0.50%
Detailed methodology and specifications are found here: http://platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpecs/metcoalmethod.pdf.

PCC Met (Platts China Coal – Metallurgical) (Yuan/mt)*

Platts Ex-washplant Platts Free-on-Rail Platts DDP Tangshan Platts CFR China
symbol symbol symbol symbol equivalent ($/mt)
PCC Met Shanxi Premium Low Vol PCCMA04 1550 PCCMB04 1585 PCCMC04 1735 PLVHJ04 218.45
PCC Met Shanxi High Sulfur Premium Low Vol PCCMD04 1180 PCCME04 1215 PCCMF04 1365 PLVHD04 173.38
PCC Met North China Fat Coal PCCMG04 1450 PCCDG04 184.81
PCC Met Shanxi PCI PCCMH04 900 PCCMI04 935 PCCMJ04 1025 MCLCC04 127.68
PCC Met Shandong Semi Soft PCCMK04 1170 PCCML04 1190 MCSSD04 147.13

PCC Met Rail Freight Shanxi – Tangshan PCCMM04 200

PCC Met Truck Freight Shanxi – Tangshan PCCMO04 185
*Weekly (assessed April 28).

North China prompt port stock prices

Platts Ex-stock Jingtang Platts CFR Jingtang
symbol (Yuan/mt, incl VAT) symbol equivalent ($/mt)**
Premium Low Vol* AAWZN00 1800.00 AAWZO00 242.20
Low Vol HCC* AAWZP00 1710.00 AAWZQ00 229.89
*Weekly (assessed April 30), 20-day delivery from date. **Ex-stock price, net of port charges, import tax and VAT.

© 2021 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 7
Coal Trader International Friday, April 30, 2021

Platts daily metallurgical coal assessments (continued)

HCC assessed specifications

CSR VM Ash S P TM Fluidity
Premium Low Vol 71% 21.50% 9.30% 0.50% 0.05% 9.70% 500
HCC Peak Downs Region 74% 20.70% 10.50% 0.60% 0.03% 9.50% 400
Low Vol HCC 62% 21.50% 8.00% 0.45% 0.06% 10.50% 100
Penalties & Premia: Differentials ($/mt)
Within Platts % of Premium Low Vol FOB Platts Net value
min-max symbol Australia assessment price symbol
Per 1% CSR 67-74% CPCSA00 0.00% CPCSP00 0.00
Per 1% VM (air dried) 18-27% CPVPA00 1.00% CPVMP00 1.07
Per 1% TM (as received) 8-11% CPTPA00 -1.00% CPTMP00 -1.07
Per 1% Ash (air dried) 7-10.5% CPAPA00 -0.50% CPPAP00 -0.53
Per 0.1%S (air dried) 0.3-1% CPSPA00 -0.50% CPSPV00 -0.53

US Low Vol HCC Penalties & Premia; Differentials ($/mt)

Within Platts % of US Low Vol HCC FOB Platts Net value
min-max symbol USEC assessment price symbol
Per 1% CSR 50-64% CPPBA00 0.40% CPPBB00 0.65
40-49% CPPBC00 0.10% CPPBD00 0.16
Per 0.1% S 0.70-1.05% CPPBE00 0.75% CPPBF00 1.22
1.06-1.25% CPPBG00 1.40% CPPBH00 2.27
Per 1% TM (as received) 6-11% CPPBK00 1.00% CPPBL00 1.62
Per 1% Ash 5-10% CPPBI00 1.50% CPPBJ00 2.43

US weekly brand relativities ($/mt), April 30

Platts FOB Spread vs US LV
symbol
Blue Creek No. 7 MCAPB04 168.00
Blue Creek No. 4 MCAPC04 161.75
Beckley MCAPD04 164.00 101.23%
Low Vol FOB USEC AAWWR00 162.00 100.00%
Windber MCAPE04 160.00 98.77%
Buchanan MCAPF04 164.00 101.23%
April 30 Panamax freight rates. Hampton Roads to Rotterdam = $15.75/mt, Hampton Roads to Brazil = $17.50/mt, Mobile to Rotterdam = $20.50/mt.
For further information about these assessments, please refer to the specifications guide:
https://www.spglobal.com/platts/en/our-methodology/methodology-specifications/metals/metallurgical-coal-methodology or contact PL_CokingCoal@spglobal.com.
Source: S&P Global Platts

Coking coal derivatives assessments, Apr 30 Metallurgical coke, Apr 30

Platts symbol $/mt Chg % Chg
TSI Premium Hard Coking Coal Australia Export FOB East Coast Port
May-21 MCPLM01 113.250 -0.250 -0.220
Jun-21 MCPLM02 114.000 +0.250 +0.220
Jul-21 MCPLM03 118.000 +0.250 +0.212
Q3-21 MCPLQ01 122.000 +1.000 +0.826
Q4-21 MCPLQ02 131.500 +0.500 +0.382
Q1-22 MCPLQ03 141.500 +0.500 +0.355
2022 MCPLY01 143.000 +0.500 +0.351
2023 MCPLY02 147.500 +0.500 +0.340
Platts China PLV, met coke price differentials, Apr 30
Price spreads Platts symbol $/mt
Seaborne
% CSR Platts symbol $/mt Chg % Chg
FOB North China 66/65 MCCNC00 410.00 +1.00 +0.24
65/63 MCCHB00 392.00 +1.00 +0.26
64/62 AAWVL00 379.00 +1.00 +0.26
62/60 MCCHA00 376.00 +1.00 +0.27
CFR India 66/65 MCCNI00 418.00 -1.00 -0.24
65/63 MCINB00 387.00 -1.00 -0.26
64/62 MCCEI00 374.00 -1.00 -0.27
62/60 MCINA00 372.00 -1.00 -0.27
Domestic
Yuan/mt
DDP North China (weekly) 62 AAWVJ00 2400.00 +180.00 +8.11

Import-Shanxi Premium Low Vol CFR China PLVHK04 9.55 $/mt

Import-port stock Premium Low Vol CFR China PLVHL04 -12.20 FOB North China equivalent (DDP weekly) 62 PLVHM04 378.90 +28.63 +7.56
62% CSR coke export-domestic FOB North China PLVHN04 -3.90

© 2021 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 8
Coal Trader International Friday, April 30, 2021

Hydrogen & Carbon

North America hydrogen assessments, April 29*
Excluding Capex Including Capex
Production Pathway $/kg Change $/kg Change
Alberta (C$/kg)
SMR w/o CCS 0.4874 +0.0042 1.2000 +0.0005
Alkaline Electrolysis 4.2151 +1.7797 5.3918 +1.7736
PEM Electrolysis 4.8691 +2.0559 6.9774 +2.0450
Appalachia
SMR w/o CCS 0.3594 +0.0003 0.9548 +0.0004
Alkaline Electrolysis 1.6420 -0.0374 2.5213 -0.0375
PEM Electrolysis 1.8967 -0.0433 3.4723 -0.0432
Gulf Coast
SMR w/o CCS 0.4431 -0.0211 0.9472 -0.0211
Alkaline Electrolysis 1.5017 -0.2436 2.3341 -0.2436
PEM Electrolysis 1.7346 -0.2815 3.2260 -0.2814
Midcontinent
SMR w/o CCS 0.4064 -0.0185 0.9377 -0.0185
Alkaline Electrolysis 0.7815 -0.9610 1.6354 -0.9609
PEM Electrolysis 0.9027 -1.1101 2.4326 -1.1100
Northeast
SMR w/o CCS 0.3814 -0.0110 1.0161 -0.0110
Alkaline Electrolysis 1.4394 +0.0833 2.3440 +0.0833
PEM Electrolysis 1.6627 +0.0963 3.2835 +0.0963
Northern California
SMR w/o CCS 0.6070 -0.0171 1.3373 -0.0172
Alkaline Electrolysis 1.9274 +0.0034 2.9136 +0.0033
PEM Electrolysis 2.2264 +0.0039 3.9935 +0.0039
Northwest
SMR w/o CCS 0.4193 -0.0306 1.0019 -0.0306
Alkaline Electrolysis 1.1853 -0.4820 2.0814 -0.4821
PEM Electrolysis 1.3692 -0.5568 2.9747 -0.5569
Rockies
SMR w/o CCS 0.4134 -0.0214 0.9716 -0.0213
Alkaline Electrolysis 1.3932 -0.2653 2.2598 -0.2653
PEM Electrolysis 1.6094 -0.3064 3.1620 -0.3065
Southeast
SMR w/o CCS 0.4464 -0.0226 0.9661 -0.0226
Alkaline Electrolysis 1.5614 -0.0816 2.4160 -0.0816
PEM Electrolysis 1.8036 -0.0943 3.3349 -0.0942
Southern California
SMR w/o CCS 0.5015 -0.0367 1.2023 -0.0367
Alkaline Electrolysis 1.6702 +0.1911 2.6361 +0.1911
PEM Electrolysis 1.9293 +0.2207 3.6599 +0.2207
Upper Midwest
SMR w/o CCS 0.4235 -0.0149 0.9919 -0.0150
Alkaline Electrolysis 1.4524 -0.4590 2.3588 -0.4590
PEM Electrolysis 1.6778 -0.5302 3.3017 -0.5302
*Assessed previous day
Japan hydrogen assessments, April 30
Excluding Capex Including Capex
Production Pathway Yen/kg Change Yen/kg Change
SMR w/o CCS 166.8369 +5.1046 249.1314 +5.0555
Alkaline Electrolysis 324.3792 -124.8632 460.2806 -124.9443
PEM Electrolysis 374.7087 -144.2385 618.2036 -144.3839
Voluntary carbon credits, April 30
$/mtCO2e Change Eur/mtCO2e Change
Platts CEC 1.950 0.000 1.621 +0.012
Note: The Platts CEC assessment reflects the value of CORSIA-eligible credits in the voluntary
carbon market, and is not a component of Platts hydrogen assessments.
UK hydrogen assessments, April 30
Production Pathway GBP/kg Change GBP/KWh Change
ATR w CCS 1.2817 +0.0450 0.0385 +0.0014
ATR w CCS (inc. Capex & Carbon) 1.6009 +0.0450 0.0480 +0.0013
Alkaline Electrolysis 3.5680 +0.0933 0.1071 +0.0028
Alkaline Electrolysis (inc. Capex) 4.1706 +0.0993 0.1251 +0.0029
PEM Electrolysis 4.1190 +0.1078 0.1236 +0.0033
PEM Electrolysis (inc. Capex) 5.1986 +0.1185 0.1560 +0.0036
Netherlands hydrogen assessments, April 30
Production Pathway Eur/kg Change Eur/KWh Change
SMR w/o CCS 1.0848 +0.0418 0.0325 +0.0012
SMR w/o CCS (inc. Capex) 1.5038 +0.0447 0.0451 +0.0013
SMR w/o CCS (inc. Carbon) 1.3480 +0.0418 0.0404 +0.0012
SMR w/o CCS (inc. Capex & Carbon) 1.7670 +0.0448 0.0530 +0.0013
SMR w CCS 1.3448 +0.0463 0.0403 +0.0013
SMR w CCS (inc. Capex) 2.0232 +0.0511 0.0607 +0.0015
SMR w CCS (inc. Carbon) 1.3711 +0.0463 0.0411 +0.0014
SMR w CCS (inc. Capex & Carbon) 2.0495 +0.0510 0.0615 +0.0015
Alkaline Electrolysis 2.8736 +0.0050 0.0862 +0.0001
Alkaline Electrolysis (inc. Capex) 3.5654 +0.0098 0.1070 +0.0003
PEM Electrolysis 3.3166 +0.0057 0.0995 +0.0002
PEM Electrolysis (inc. Capex) 4.5563 +0.0145 0.1367 +0.0004
NATURAL GASLNG
($/MMBtu)
10
8
JKM
6 TTF
Henry Hub
4
2
22-Mar 26-Mar 01-Apr 07-Apr 13-Apr 19-Apr 23-Apr 29-Apr
Source: S&P Global Platts
PLATTS CEC
($/mtCO2e)
2.4
2.3

2.2
Assessment rationale
The S&P Global Platts hydrogen prices are daily valuations that incorporate the cost 2.1
of variable natural gas, electricity, and carbon inputs, where applicable. A second set
of valuations include fixed assumptions for capital and operating expenses. The
2.0
Platts hydrogen prices are not based on observed or reported market transactions.
Details on the Platts hydrogen methodology can be found at:
https://www.spglobal.com/platts/en/ourmethodology/methodology-specifications/ 1.9
18-Mar 24-Mar 30-Mar 07-Apr 13-Apr 19-Apr 23-Apr 29-Apr
electric-power/hydrogen-methodology.
Source: S&P Global Platts

© 2021 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 9
Coal Trader International Friday, April 30, 2021
COVID-19, although compared with 2019 generation is still down 3%,
data from national grid operator Red Electrica de Espana showed.
Spot power prices in April were 34% higher than where the April
front-month contract settled, at an average of Eur65.01/MWh, due to a
jump in demand and a slowdown in hydro production following below
average rainfall amid higher conventional generation to meet the
shortfall left from hydro output.
April averaged the highest on record on, from OMIE records going
back to 2012.
Hydro output fell 11% year on year as stocks fell below the 10-year
average, while solar power rose by 42%.
Total power generation rose as Spanish restrictions were lighter
than last year when the country was in a full lockdown to combat rising
coronavirus cases. However, when compared to April 2019, generation
was still down 3%.
Spanish April average generation (GW)
Apr-21 Apr-20 Delta Delta %
Net imports 0.42 0.32 0.09 29
CCGT 4.75 3.01 1.74 58
Coal 0.38 0.42 -0.04 -10
Cogeneration 3.07 2.68 0.39 15
Nuclear 5.85 5.68 0.17 3
Hydro and pump storage 3.94 4.41 -0.47 -11
Wind, solar and other renewable 8.97 7.48 1.49 20
Total generation 27.76 23.70 4.06 17
Source: Red Electrica de Espana
Gas-fired generation averaged 4.8 GW in April, up from 2.9 GW in
March, and was 58% higher year on year. In contrast, less competitive
coal was down 10% on the year, but was marginally up on the month
from March on higher demand, while cogeneration was up on both
year and month.
The outlook for conventional gas generation in May looks mixed with
CCGTs limited by a low clean spark spreads – the profitability of gas-fired
generation with 50% efficiency after the cost of emissions – which
averaged Eur11.06/MWh in April, up from minus Eur1.32/MWh in March.
The latest front-month May spark was just above zero at 7 euro
cent per MWh amid recent strength in both gas and emission prices,
while hydro output is set to continue to to fall ahead of the summer
decline, according to S&P Global Platts data.
— Mario Perez
Atlantic met coal sees higher US prices,
with June high-vol A trade
■■High-vol A trade leads rise in US prices
■■Arch’s Leer sold to China via trader
■■More China sales demand from traders heard
London—Atlantic metallurgical coal markets saw US export spot prices
rise April 29, with a brand of high-volatile A heard booked earlier this
week at $162.50/mt FOB bound for China, and suppliers showing
limited volumes for prompt spot loading.
A Panamax cargo of Arch Resources’ Leer coal which typically has
© 2021 S&P Global Platts, a division of S&P Global Inc. All rights reserved.
Weekly Averages for Platts Thermal Coal Price
Assessments ($/mt)
CV (kcal/kg) Basis Week ending Week ending Change
30-Apr 23-Apr
FOB Kalimantan 5,900 GAR 87.880 84.310 +3.570
FOB Kalimantan 5,000 GAR 72.160 70.770 +1.390
FOB Kalimantan 4,200 GAR 52.810 50.840 +1.970
FOB Kalimantan 3,800 GAR 39.870 38.200 +1.670
Monthly and Quarterly Averages for Platts Forward
Benchmark Coal Price Assessments ($/mt)
CV (kcal/kg) Basis Mar-21 Feb-21 Jan-21 Q1-21 Q4-20
Platts SEAT 4,200 GAR 53.46 49.92 55.94 53.17 40.29
Platts NEAT 5,750 NAR 84.25 77.50 74.50 79.03 61.05
CFR Pakistan 5,750 NAR 93.96 90.93 87.04 90.80 67.58
CFR Bangladesh 5,000 GAR 81.11 80.31 85.89 82.40 57.99
Sulfur Differential 0.25 0.25 0.25 0.25 0.25
CIF ARA 6,000 NAR 69.18 66.21 67.40 67.67 58.97
European Blended Price 6,000 NAR 72.01 72.21 68.49 70.95 57.95
EBP Differential 6,000 NAR 2.83 5.99 1.09 3.28 -1.03
FOB Richards Bay 5,500 NAR 66.84 61.06 62.38 63.59 51.95
FOB Newcastle 20% Ash 5,500 NAR 57.74 55.81 56.00 56.59 45.18
FOB Newcastle 23% Ash 5,500 NAR 56.28 54.38 54.58 55.15 44.04
FOB Kalimantan 5,900 GAR 72.32 76.56 88.82 78.94 57.15
FOB Kalimantan 5,000 GAR 61.66 66.83 74.41 67.36 47.53
FOB Kalimantan 4,200 GAR 39.01 40.03 47.74 42.14 32.84
FOB Kalimantan 3,800 GAR 30.96 31.93 37.45 33.35 25.92
CFR India West 5,500 NAR 80.32 75.51 63.67 73.47 62.78
CFR India West 5,000 GAR 77.41 78.95 84.55 80.18 56.63
CFR India West 4,200 GAR 54.76 52.14 57.88 54.96 41.94
CFR India East 5,500 NAR 80.97 75.62 63.55 73.71 62.99
CFR India East 5,000 GAR 75.97 77.80 83.61 79.00 55.91
CFR India East 4,200 GAR 53.32 51.00 56.95 53.78 41.22
CIF Med 75kt 6,000 NAR 64.38 63.50 65.94 64.60 56.66
CIF Med 45kt 6,000 NAR 69.00 68.53 71.46 69.66 61.04
FOB Baltimore 6,000 NAR 59.68 59.30 58.40 59.16 51.51
FOB Hampton Roads 6,000 NAR 86.45 85.35 84.22 85.41 82.92
FOB New Orleans 6,000 NAR 51.25 51.59 49.07 50.68 41.68
FOB Baltimore 6,900 NAR 68.63 68.19 67.16 68.04 59.25
FOB Colombia 6,000 NAR 69.75 68.88 66.75 68.46 57.32
Russia Baltic 6,000 NAR 62.00 59.85 65.88 62.58 54.26
Russia Pacific 6,300 GAR 82.88 80.68 91.50 85.02 67.76
1%-1.1% sulfur, and 7.1%-7.4% ash was heard booked on Monday at
$162.50/mt FOB US East Coast, for 75,000 mt loading first-half of June
to a trader.
The Platts US high-vol A index increased $6 to $162/mt FOB USEC,
based on 32.25% volatile matter, 1.05% reflectance (MMR), 220%
dilatation, 7.5% ash, 0.95% sulfur, 30,000 ddpm and CSR typically in
the low 60s.
Arch indicated on its April quarterly earnings call that 75% of its
metallurgical coal sales are for export, with roughly 20% of the sales
going into China as additional sales opportunities grew. Arch in
December said it signed a one-year term deal for shipping 75,000 mt of
Leer each quarter to a Chinese end-user, starting from Q2 2021. Arch
has sold Leer into China in the past, and typically sells a range of coals
to global export markets including Europe, Brazil, South Korea and India.
Prompt met coal availability in the US is limited, with several US
suppliers indicating tradable value at higher price levels and premiums
to index, especially for low sulfur high-vols. Panamax freight to China
was available below $50/mt, and lower rates are available with
planning and notice, a coal marketer added.
One miner saw lower sulfur, high-vol A tradable around $163-
$166/mt FOB for May or June loading, while another supplier
10
Coal Trader International Friday, April 30, 2021
expected parity to Platts high-vol A may trade basis index at best,
with premiums possible. In the China import market, $215/mt CFR
was indicated tradable for 32.5% VM coal, with low sulfur, loading in
June, which would netback close to $170/mt FOB Hampton Roads on
a Panamax basis.
A tender for a small quantity of high-vol A for Italy, loading in Q3
was heard attracting bids with discounts to Platts high-vol A index,
although final details were unavailable.
US low-vol was indicated tradable into China for additional June
loadings from Hampton Roads, based on firm demand.
“There’s lot of traders in the market, willing to pay up, over current
index, for an FOB number, and play the arb on CFR China,” said US
market source.
The S&P Global Platts US East Coast low-vol HCC benchmark
assessment increased by $1 to $161/mt FOB Hampton Roads, based on
58% CSR, 19.25% volatile matter, 8.25% ash and 0.95% sulfur.
High-vol B supply is tight for May and June, leading to stronger
offers. Branded coal with around 36-36.25% VM, maximum 1% sulfur
was indicatively offered at $148-$149/mt FOB Hampton Roads for
loading end-May, June, with no availability.
“There’s no competition out there,” a miner added.
The Platts US high-vol B benchmark rose $3 to $147/mt FOB USEC.
The assessment is based on 36% VM unblended product with 0.95%
MMR, 160% dilatation, 8% ash, 1% sulfur and 25,000 ddpm fluidity.
The Platts TSI Premium HCC reference price, used for the
settlement of Singapore Exchange’s coking coal futures, fell 75 cents
to $108/mt FOB Australia.
In the Australian premium HCC-based futures market, May was
steady at $113.50/mt. The Q3 2021 contract fell to $121/mt, down 0.8%,
based on Platts assessments at the close in Singapore.
— Hector Forster
Asia met coal PLV FOB prices fall as PLV buy
tender concludes lower
■■GLV done at $105/mt FOB Australia for PLV tender
■■Positive outlook for demand in China
Singapore—Seaborne metallurgical coal PLV FOB prices continued to
move lower as a buy tender issued by a major steelmaker in North Asia
concluded at lower prices, reflecting the weakness for premium low
vol materials.
S&P Global Platts assessed Premium Low Vol down $1.50/mt to
$106.5/mt FOB Australia, and CFR China up $1/mt to $230/mt CFR
China April 30.
The widely watched buy tender issued by a major steelmaker in
North Asia was done at $105/mt FOB Australia for Australian premium
low vol GLV, 80,000mt with June 1-10 laycan. The other part of the
tender that sought July and August laycan cargoes was unsuccessful,
due to a mismatch of price expectations between buy and sell sides, a
source familiar with the matter said.
The spot market continued to hear discussions latest situation in
© 2021 S&P Global Platts, a division of S&P Global Inc. All rights reserved.
India following its lockdowns and other restrictive measures to
contain the widespread of pandemic. Market participants said that
although steel mills were likely to maintain production, concerns
were still observed on potential decline in downstream demand.
In China, market participants started to withdraw from the market
ahead of the Labour Day holiday while market sentiments remained
firm towards demand outlook.
Limited spot non-Australian premium coals were available in China,
but trading activity picked up in the HCC and PCI segment as
restocking demand for such coals emerged, market sources said.
In the hard coking coal segment, a Panamax volume of Conuma
HCC with May laycan was heard done at around 213/mt CFR China in
the week of April 26.
In the PCI segment, a trade for Russian low vol Siban PCI Ash 11,
with 11% TM, 11% VM, and 11% ash was done at $134/mt CFR China,
30,000mt with June 15-30 laycan.
Chinese coke producers in Shandong and Shanxi proposed the 4th
round of price uptick by Yuan 100/mt April 30, industry sources said.
“Coke plants utilization rate is lower due to the recent
environmental inspections. And I think the supply tightness together
firm steady demand from end-users are going to support coke prices,”
a coke trader based in China said
At Jingtang port, market sources said that prices also gained
support at port due to strength seen in domestic and seaborne coking
coal markets.
Platts assessed PLV ex-stock Jingtang up Yuan 30/mt to Yuan
1,800/mt on April 30, equivalent to $242.20/mt CFR Jingtang and HCC
64 Mid Vol ex-stock Jingtang was up Yuan 30/mt to Yuan 1,710/mt,
equivalent to $229.89/mt CFR Jingtang.
— Jessie Li, Yi-Le Weng, Jeffery Lu
Platts Hard Coking Coal Premium Low Vol FOB
Australia Daily Rationale
Singapore—S&P Global Platts assessed Premium Low Vol HCC down $1.50/mt
at $106.5/mt FOB Australia April 30.
A trade was concluded April 30 for 80,000 mt of an Australian premium low vol
GLV at $105/mt FOB Australia, with June 1-10 laycan. This was for coal assessed
at $1.5/mt discount to Platts PLV FOB Australia. A firm offer was heard at $122/
mt FOB Australia for globalCOAL HCCLV Peak Downs or Saraji, 75,000 mt with
June laycan, assessed at parity to Platts PLV FOB Australia. The highest firm bid
was heard at $107/mt FOB Australia for Australian premium low vol Peak Downs,
assessed at $1/mt premium to Platts PLV FOB Australia.
No data was excluded from this assessment.
The above rationale applies to Platts premium low vol FOB Australia
assessment, with the associated data code: PLVHA00
Platts Hard Coking Coal Premium Low Vol CFR China
Daily Rationale
Singapore—S&P Global Platts assessed Premium Low Vol HCC up $1/mt at
$230/mt CFR China April 30.
Tradable levels were placed between $225-$235/mt CFR China for US low-vol
Oak Grove, assessed at a $3/mt discount to Platts PLV CFR China.
No data was excluded from this assessment.
The above rationale applies to Platts premium low vol CFR China assessment
(PLVHC00) & TSI Prem JM25 CFR Jingtang (TS01044)
11
Coal Trader International Friday, April 30, 2021
Chinese seaborne thermal coal demand upbeat
amid rising domestic prices...from page 1
A Chinese utility was heard to have released a tender seeking
3,400-4,300 kcal/kg NAR material.
An Indonesia-based trader mentioned that Chinese traders were
willing to buy 3,800 kcal/kg GAR coal at $40/mt FOB Supramax for
June loading, but he had no cargo to offer.
“They expect prices to increase after the Labor Day holidays, that
is why they are looking to close deals before the holidays,” he said.
A Chinese-trader attributed the pickup in inquiries to May and June
being the traditional peak buying season for China, where powerplants
stock up for the summer season.
He expects domestic prices to cool off slightly after the holidays
but foresees prices to improve in mid-May.
Currently, two major hydropower provinces in China, Sichuan and
Yunnan are facing drought, which can lend some support to thermal
coal demand, a Singapore-based analyst said.
An Indonesian 5,500 kcal/kg NAR coal cargo with 1.4% sulfur
content, was heard sold to a Chinese utility at $88/mt FOB geared
vessel for June loading.
A Thailand-based trader expects Indonesian coal prices to increase
proportionally to the Chinese domestic coal prices.
“I think [Chinese] domestic supply is not enough to meet the
summer demand,” he said.
On the Indonesian thermal coal side, 4,200 kcal/kg GAR was
heard traded at $54.50/mt FOB Panamax for May loading. Bids
were heard at $52/mt FOB for May and June-loading Supramax
cargoes, while offers were heard at $54-$56/mt FOB for May-
loading Supramax.
A prompt 3,800 kcal/kg NAR Indonesian coal was heard re-offered
into the market at $52.50/mt FOB on Supramax basis for May-loading,
as it was being diverted away from India.
“There are a lot of Indian diverted cargoes in the market now as
Indian buyers are more cautious due to the coronavirus,” a China-
based trader said.
Subscriber Notes
May Day bank holiday publishing schedule for Platts Coal Trader International
The S&P Global Platts office in London will be closed Monday, May 3, for the May
Day bank holiday, and there will be no Atlantic thermal coal prices or Coal Trader
International publication on that day.
Thermal coal assessments from Singapore from Monday, May 3 will be
published on Tuesday, May 4.
Normal publishing schedule will resume on Tuesday, May 4.
For full details of Platts publishing schedule and services affected, see http://
www.platts.com/holidayhome.
For queries, please contact support@platts.com.
Platts to discontinue Euro price equivalents of thermal coal Panamax freight
rates
S&P Global Platts will discontinue the publication of all four Euro-denominated
price equivalents of its Panamax thermal coal freight rates from July 1, 2021.
The discontinuation of these Euro-denominated price equivalent freight rates
into India is part of Platts ongoing review of its historical data sets. Platts first
© 2021 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 12
Australian HA sentiment
Australian thermal coal traders held bearish sentiments on the
back of poor Indian demand.
A trade for Newcastle 5,500 kcal/kg NAR was heard at $54.50/mt
FOB for a Capesize, end-May loading cargo.
“India buying is weak and freight to India is high,” an Australia-
based trader said.
Bids for Newcastle 5,500 kcal/kg NAR were heard below $54/mt
FOB, while offers have come down slightly, at around $55.50-$56/mt
FOB for an end-May, June-loading Capesize cargo.
“Things will be clearer in the coming week as people are
anticipating a nationwide lockdown,” an India-based trader said.
Qinhuangdao sentiment
Chinese domestic coal prices inched higher as offers for spot
cargoes of Qinhuangdao 5,500 kcal/kg NAR were heard at around Yuan
810/mt [$125.25/mt], while offers for Qinhuangdao 5,000 kcal/kg NAR
were heard at around Yuan 715/mt [$110.56/mt].
Qinhuangdao port stock levels continued their uptrend, with
inventories at 4.39 million mt, up 0.06 million mt from April 28. There
were 47 vessels in queue as of April 29, down two vessels from April
28, with five more vessels expected.
— Neka Liau
Platts Thermal Coal Indonesia Daily Rationale
Singapore—S&P Global Platts assessed the 7-45 day price of FOB Kalimantan
4,200 kcal/kg GAR coal at $53.50/mt on April 30, up 50 cents/mt day on day,
reflecting the day’s traded level.
A trade was heard concluded at $53.50/mt FOB Supramax basis for May loading
before the end of the Platts Market on Close assessment process.
Bids were heard at $52/mt FOB on Supramax basis for May and June loading
while the best offer was heard at $54/mt FOB, with higher offers heard at $55-
$56/mt FOB on Supramax basis for May loading.
An offer heard at $52.50/mt FOB on Supramax basis for May loading was excluded
from the assessment as it could not be confirmed at the time of publishing.
The above rationale applies to the FOB Kalimantan 4,200 GAR assessment, with
the associated code: CSBKI00
proposed the discontinuation of these Euro-denominated price equivalents in a
subscriber note published Jan. 21, 2021: http://plts.co/M1k130ryZ5Q.
Platts will continue to publish these Panamax freight rate assessments in $/mt
that reflect the value of the market at 5:30 pm Singapore time (0930 GMT).
The affected assessments and their associated price database codes are:
Freight Rate Dry Bulk Richards Bay-Paradip East Coast India Panamax Euro/mt
(CSAKM00)
Freight Rate Dry Bulk Richards Bay-Mundra West Coast India Panamax Euro/mt
(CSAKO00)
Freight Rate Dry Bulk Kalimantan-Mundra West Coast India Panamax Euro/mt
(CSAKQ00)
Freight Rate Dry Bulk Kalimantan-Paradip East Coast India Panamax Euro/mt
(CSAKS00)
Platts has previously discontinued all Euro-denominated price equivalents of its
Asia thermal coal assessments from Aug. 21, 2020, following observation of a
decoupling of the Northwest Europe and Asian thermal coal markets as a result
of a shift in trade flows over the last six years, leading to a decline in the need
Coal Trader International Friday, April 30, 2021

for a Euro/mt price equivalent of Asian thermal coal assessments (http://plts.co/ The merger follows supportive market feedback received for a first proposal
u6mq30rtr25). published May 22 (http://plts.co/CzN430qVcSJ), and a second updated proposal
Please send any questions or comments to shipping@spglobal, published July 7 (https://bit.ly/3hzEU7Z).
coal@spglobal.com and pricegroup@spglobal.com. For written comments, please The merger simplifies Platts suite of premium hard coking coal assessments
provide a clear indication if comments are not intended for publication by Platts and further reinforces the robustness of the TSI PHCC index in times of market
for public viewing. Platts will consider all comments received and will make illiquidity. Aligning the methodologies means that the TSI PHCC and Platts PLV
comments not marked as confidential available to the public upon request. HCC price series will be published as two identical values from April 1, 2021.
This will have the added benefit of eliminating the basis risk for market
Platts propose to rename Mid Tier PCI to Mid Vol PCI, change specifications
participants looking to hedge their PLV HCC-linked physical coking coal
S&P Global Platts proposes to rename the Mid Tier PCI assessments to Mid Vol
exposure via derivatives contracts settling against the TSI PHCC index. Platts
PCI, and to change the specifications of the assessments, effective Sept. 1, 2021.
received feedback from all segments of the market and geographies, including
The renaming of the assessments aims to better align the names of the
during open webinars run for the purpose of explaining the proposal.
assessments with the underlying specifications defined in Platts methodology.
DATA TREATMENT: The newly merged assessments follow Platts Market on
The changes in the specifications aims to better reflect the specifications of PCI
Close principles and reflect repeatable market value at the close of the
coals that have been actively traded in the spot market.
assessment process, after incremental market testing. Platts tracks market
The proposed specifications are:
price evolution during the entire day, and publishes a wide range of data relating
Current Proposed to market value, including firm bids and offers, transactions and indicative
values Transparent data is prioritized in the assessment process, because it is
VM (AD) 15 19
available to the entire market for testing. The full description of the Platts
Ash (AD) 12 10 assessments methodology and data hierarchy can be found here: https://www.
Sulfur (AD) 0.55 0.4 spglobal.com/platts/plattscontent/_assets/_files/en/our-methodology/
methodology-specifications/platts-assessments-methodology-guide.pdf
CV (GAD) 7800 7600 Affected price series: TSI Premium Hard Coking Coal Australia Export FOB East
TM (AR) 10 10 Coast Port (TS01034).
TIMESTAMP: The TSI PHCC index has been aligned with other assessments
HGI 78 78 across metallurgical coal and the ferrous value chain, including iron ore, steel
CSN 1 1 and ferroalloys, and are assessed as an end-day value with a timestamp of 5:30
pm Singapore time (0930 GMT). Previously, the TSI PHCC index took into
Carbon (DAF) 90.5% 85%
account data reported until 6 pm Singapore time and was calculated as a
volume-weighted average. Affected price series: TSI Premium Hard Coking Coal
The renaming of assessment series will not affect the assessment
Australia Export FOB East Coast Port (TS01034).
methodology itself, or the qualities of coals whose pricing information are
QUALITY: Platts has revised the specifications of its merged assessments to
considered in those assessments. Based on analysis of historical data, Platts
better align them with the current specifications of premium low-vol hard
evaluates that the incoming specifications do not imply a substantial structural
coking coals in the physical market. These changes can be seen in the table
difference in value from the current ones.
below. Based on Platts evaluation, the new specifications do not amount to a
Some of these assessments are globally-referenced benchmarks used in the
meaningful value difference for the assessment relative to its previous
spot market. This prolonged notice period is to provide sufficient time for
specifications or relative to the major premium hard coking coal brands trading
market participants who are using these assessments to make any necessary
in the physical market. All premium mid-vol hard coking coals will continue to
adjustments in their contracts.
be assessed and normalized to the Platts defined PLV benchmark specification.
The change will affect the following assessments and all their averages:
CSR VM ad TM ar Ash ad S ad P ad Fluidity Vit %
Current description Realigned description Symbol
Specifications 70 20 10 10.5 0.65 0.04 300 67
Mid Tier PCI FOB Australia Mid Vol PCI FOB Australia MCLAA00
of both indices
Mid Tier PCI FOB Australia Mavg Mid Vol PCI FOB Australia Mavg MCLAA03 after merger
Mid Tier PCI CFR China Mid Vol PCI CFR China MCLAC00
Affected price series: TSI PHCC index, the PLV HCC assessment, and other
Mid Tier PCI CFR China Mavg Mid Vol PCI CFR China Mavg MCLAC03 seaborne and port stock assessments that are related to the PLV HCC
Mid Tier PCI CFR India Mid Vol PCI CFR India MCVAI00 assessment. The list of affected price series is as follows:
Descriptions and Symbols
Mid Tier PCI CFR India Mavg Mid Vol PCI CFR India Mavg MCVAI03 TSI Premium Hard Coking Coal Australia Export FOB East Coast Port TS01034
TSI Prem JM25 Coking Coal China Imports CFR Jingtang Port TS01044
The renamed assessments will continue to be published in SBB Steel Markets Premium Low Vol HCC FOB Australia PLVHA00
Daily, Coal Trader International, on the real-time Platts Metals Alert and Platts Prem Low Vol HCC FOB Australia (China netback) PLVHD00
Steel, Raw Materials Alert on fixed pages 1051 and 205, and in the Platts price Premium Low Vol HCC CFR China PLVHC00
database under the symbol mentioned above. Premium Low Vol HCC CFR India PLVHI00
Please send comments, questions and other feedback to Prem Low Vol Ex-Stock Jingtang AAWZN00
pl_cokingcoal@spglobal.com and pricegroup@spglobal.com by April 30, 2021. Prem Low Vol CFR Jingtang Equivalent AAWZO00
For written comments, please provide a clear indication if comments are not Met Coal Prem Low Vol Import-Port Stock CFR China Differential PLVHL04
intended for publication by Platts for public viewing. Platts will consider all TIMING: The timing specification of the Platts PLV FOB Australia assessment
comments received and will make comments not marked as confidential has been adjusted to represent cargoes loading 7-60 days forward from the
available upon request. current 7-45 days forward, in line with the current loading window of the TSI
PHCC index. As is the case in Platts methodology, where a time structure is
Platts merges TSI and Platts Premium Hard Coking Coal price series
observed in the physical market, cargoes loading within this loading window are
Following industry feedback, S&P Global Platts has merged the TSI Premium Hard
normalized to the mid-window day, in this case the 33rd day forward. The
Coking Coal FOB East Coast Australia index (TS01034) and the Platts Premium
change better aligns our timing specification with typical loading timings in the
Low Vol HCC FOB Australia assessment (PLVHA00), effective April 1, 2021.

© 2021 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 13
Coal Trader International Friday, April 30, 2021
physical spot market and increases overall liquidity eligible for inclusion in the
assessment. Affected price series: Premium Low Vol HCC FOB Australia
(PLVHA00) and Prem Low Vol HCC FOB Australia (China Netback) (PLVHD00)
assessments. Platts has also changed the delivery timing for the assessments
with CFR incoterms to delivery in 20-75 days, from the current delivery in 20-65
days. Affected price series: Premium Low Vol HCC CFR China (PLVHC00) and
Premium Low Vol HCC CFR India (PLVHI00).
QUANTITY: The volume basis of the TSI PHCC assessment has been set at a
minimum of 10,000 mt, in line with the Platts PLV HCC specification, from
minimum 15,000 mt previously. Affected price series: TSI Premium Hard Coking
Coal Australia Export FOB East Coast Port (TS01034).
LOCATION: Platts has defined the location basis for the TSI PHCC index as FOB
Hay Point, Australia, in line with the existing Platts PLV HCC assessment. The
port of Hay Point includes the two terminals of Hay Point Coal Terminal and
Dalrymple Bay Coal Terminal. Cargoes loading from other ports continue to be
reflected, but will be normalized to the stated basis location. Affected price
series: TSI Premium Hard Coking Coal Australia Export FOB East Coast Port
(TS01034)
PREMIUM MID VOL: Following market feedback, Platts has decided not to launch
© 2021 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 14
a new premium mid-vol assessment at this point. Platts currently publishes
daily assessments of a number of mid-vol brands, namely Goonyella, Illawarra,
Moranbah North, Goonyella C, Peak Downs North and Riverside. According to
market participants, these existing brand assessments (also known as
relativities) already serve as an accurate and transparent price reference for the
premium mid-vol segment of the market. Platts remains open to market
feedback and continues to review the relevance of any additional mid-vol
assessments.
The realigned assessments are published in SBB Steel Markets Daily, Coal
Trader International, on the real-time Platts Metals Alert on fixed pages 1064,
205, 1051, 1062, and in the Platts price database under the symbols mentioned
above.
Please send any feedback, comments or questions to
pl_cokingcoal@spglobal.com, tsimetcoal@spglobal.com and
pricegroup@spglobal.com.
For written comments, please provide a clear indication if comments are not
intended for publication by Platts for public viewing. Platts will consider all
comments received and will make comments not marked as confidential
available upon request.
Coal Trader International Friday, April 30, 2021

Current Vessel Fixtures

Vessel Quantity (Mt) Origin/Destination Loading Dates Rate ($/mt) Charterer
Australia
TBN 150,000 DBCT/Bedi+Kandla May 20-29 RNR Trafigura
TBN 75,000 Abbot Point/Paradip May 15-24 $22/mt CNR
TBN 75,000 APCT/Vizag May 8-17 $27.45/mt SAIL
TBN 75,000 HPCT/Gangavaram May 15-24 $24.90/mt RINL
TBN 75,000 DBCT/Vizag May 10-19 $26.80/mt SAIL
TBN 75,000 PKCT/Vizag May 10-19 $27.90/mt SAIL
Canada
Seafarer 160,000 Roberts Bank/Isdemir Mar 20-30 $13/mt Oldendorff
TBN 75,000 Vancouver/Vizag Feb. 1-10 mid-high-$20s/mt CNR
TBN 80,000 Westshore/Yosu Dec. 15-24 $13.06/mt Kepco
TBN 132,000 Roberts Bank/Hamburg Dec 1-10 $11.00/wmt Salzgitter
Sea Coen 162,000 Roberts Bank+Prince Rupert/Dangjin Oct 24-Nov 2 high $13’s/mt Hyundai Glovis
TBN 170,000 Roberts Bank/Pohang Oct 21-27 RNR Posco
Colombia
CCL TBN 160,000 Puerto Bolivar/Taean Apr 20-30 $29.25/mt Swissmarine
TBN 170,000 Drummond/Karabiga Apr 28-May 7 RNR Oldendorff
Scarlett 160,000 Bolivar/Kandla Apr 5-14 RNR Oldendorff
TBN 160,000 Puerto Bolivar/Flushing Feb 22-Mar 3 $9.25/wmt Oldendorff
Panocean TBN 165,000 Puerto Drummond/Taean Feb 19-28 RNR Kepco
Indonesia
TBN 55,000 Muara Berau/Navlakhi May 5-14 high-$19s/mt CNR
TBN 42,000 Tanjung Pemancingan/Yangzhou April 28-May 5 $19.30/mt CNR
TBN 40,000 Tanjung Pemancingang/Zhangjianggang May 3-7 $18.25/mt CNR
TBN 45,000 Semirara/Xiamen or Zhanjiang or Taizhou May 6-10 $10.50/mt CNR
TBN 50,000 Semirara/Xiamen or Zhanjiang or Taizhou May 11-15 $10.50/mt CNR
Latvia
Cosco TBN 70,000 Klaipeda/Rotterdam Sep 20-23 high $5s/mt CNR
TBN 75,000 Ventspils/Civitavecchia Sep 11-19 $12.50/mt Enel
Peney 81,886 dwt Riga/Nordenham Nov 21-25 $7.75/mt Jera
Norway
TBN 60,000 Mo-I-Rana/Ijmuiden Nov 10-15 $7.25/mt TS Global
South Africa
Gingo 150,000 RBCT/Mina Saqr + Kandla May 10-19 $16/wmt Olam
TBN 150,000 RBCT/Kandla May 10-19 rnr Olam
TBN 55,000 RBCT/PIBT May 15-20 $23/mt CNR
TBN 75,000 RBCT/Paradip May 1-10 high-$19s/mt CNR
TBN 2x 55000 RBCT/PIBT May 1-20 mid-$22s/mt CNR
United States
Rize 81,950 Convent/Rotterdam May 15-25 $18/mt Uniper
TBN 75,000 Newport News/Vizag May 14-19 $43.95/mt SAIL
TBN 75,000 Hampton Roads/Port Talbot-Ijmuiden Arp 28-May 2 RNR TS Global
Aquahaha 179,000 Baltimore/India May 10-20 RNR Uniper
TBN 75,000 Newport News/Vizag Apr. 15-24 $49.55/mt SAIL
Mozambique
TBN 38,500 Beira/Paradip May 3-8 mid-$31s/mt JSPL
Classic TBN 150,000 Nacala/Gangavaram Apr 5-14 mid-high $9s/mt Vale
TBN 50,000 Nacala/Jakhau Apr 1-10 $24/mt CNR
TBN 38,000 Beira/Vizag Mar. 30-Apr. 4 $43.45/mt SAIL
TBN 50,000 Nacala/Fujairah Mar. 21-30 low-$21/mt CNR
Brazil
Oldendorff TBN 180,000 Ponta Da Madeira/Rotterdam Jun 20-Jul 3 $6.80/mt TKSE
Russia
Swissmarine TBN 63,000 Ust Luga/Safi May 15-19 $14.95 fio ST Shipping
Panocean TBN 110,000 Vanino/Taean Feb 15-24 $7.01/wmt Kepco
JSSSC TBN 140,000 Vostochny/Mailiao Jan 17-26 $5.40/mt Formosa
TBN 80,000 Vanino/Taipei+Taichung Dec. 7-11 sub-$7/mt CNR
TBN 150,000 Vostochny/Mailiao Dec 1-10 $4.30/wmt FPMC
Vietnam
TBN 55,000 Vietnam/China early Feb $7.15/mt CNR

© 2021 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 15
Singapore Coking Coal
Conference 2021
July 15, 2021 | 9:00 am–6:00 pm SGT

Be part of the discussion and find out what's in store for met coal in 2021
at S&P Global Platts Singapore Coking Coal Conference on July 15 in
Singapore. As part of Singapore International Ferrous Week 2021, the
event will set the bar as Asia’s must-attend gathering and the leading
discussion point for the metallurgical coal and coke markets specialists.

Topic Highlights:
– Seaborne metallurgical coal and coke market overview: what’s next?
– China’s role as a swing factor to price and trade flow
– Macro outlook and supply/demand and trade flow forecast
– Energy transition: how hydrogen can help meet demand for greener
steel, and what are the challenges?
– Key insights into latest Atlantic market trends
– Factors to consider for effective risk management

Register now >