SGX M42F Thermal Coal - Daily Update 15 August 2019

August month-to date:

Futures volume at 92kt, open interest at 157kt

 

Total volume since April 2018: 1.15 million metric tonnes

 

Physical

A low-rank deal was understood to have transacted at $31.00/t FOB, basis 3,800 kc NAR, for a September loading geared vessel, although bids were still being heard at slightly higher levels. A deal for a Panamax was also reported at $31.70/t FOB, basis 3,800 kc NAR, also for September loading. A couple of September loading Supramaxes of 4,200 kc GAR material were understood to have been sold on an index-linked basis at flat to the average of the M42/ICI4 indice

 

Paper

M42 paper, listed on SGX, was bid for August at $31.80 and offered at $32.25, with September bid at $31.50 and offered at $31.90. October was bid at $31.25 and offered at $31.90, while November was bid at $31.00 and offered at $31.85. Q4-19 was bid at $30.75 and offered $31.90, with Q1-20 bid at $32.75/t and offered at $35.25. Spreads were reported for September vs October bid at minus $0.05 and offered at plus $0.40, while October vs November was bid at plus $0.05 and offered at $0.25. (ends)