Dealers plan coal benchmark

Coal dealers and brokers, including GFI and London Commodity Brokers, have agreed to set up a panel to produce a weekly CIF ARA assessment. The aim is to establish a physical and paper benchmark to be used by coal traders, said GFI.

CIF ARA is the price, comprising cost, insurance and freight, of delivered coal to Rotterdam for 6,000 kcal spec, in 90 days, in a cape or panamax-sized vessel. The panel will be drawn from physical participants in the North West European steam coal market, with