SINGAPORE, Jan. 6, 2014 /PRNewswire/ -- Global energy and commodity news and price reporting agency Argus has launched cfr coal assessments for the east coast of India. 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.
Indian thermal coal imports have grown to more than 120mn t in 2013 from around 90mn 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.
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.
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About Argus Media
Argus is an independent media organisation with more than 500 full time staff. It is headquartered in London and has offices in each of the world's principal commodity centres. Its main activities comprise publishing market reports containing price assessments, market commentary and news, and business intelligence reports that analyse market and industry trends.
More than half of Argus employees are commodity journalists who specialise in reporting news and price information relating to physical energy and commodity markets. They operate according to a rigorous Editorial Code of Conduct and a compliance and ethics Policy that align with best journalistic practice, including the avoidance of conflicts of interest.
Argus is a leading provider of data on prices and fundamentals, news, analysis, consultancy services and conferences for the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy, fertilizer, petrochemical, metals and transportation industries. Data provided by Argus are widely used for indexation of physical trade. Companies, governments and international agencies use Argus information for analysis and planning purposes.
Argus has 19 offices globally, including London, Houston, Washington, New York, Calgary, Rio de Janeiro, Singapore, Dubai, Beijing, Tokyo, Sydney, Moscow, Astana and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company. Visit: www.argusmedia.com
SOURCE Argus Media