SGX M42F Thermal Coal - Daily Update 16 March 2021

65kt traded in the Tuesday T session

NLT

    Apr-21 traded 20kt @ $37.70

    Apr-21 traded 5kt @ $37.65

    May-21 traded 5kt @ $38.65

    May-21 traded 5kt @ $38.50

    May-21 traded 5kt @ $38.25

    May-21 traded 15kt @ $38.00

    May-21 traded 10kt @ $37.50

Swaps

    NIL

March month-to date:

Futures Volume at 390kt, Open Interest at 771kt

Swaps Volume at 0kt, Open Interest at 50kt

Total volume since January 2021: 2,512kt

 

Physical

The disconnect between Panamaxes and Supramaxes continues to widen, with Supramax freight still much higher than Panamaxes, and this has seen a switch in interest from one vessel to the other, amid a shortage of floating crane capacity reporting in South Kalimantan. Low-rank offers were hard to come by today, with an increase in buying interest reported. A deal was reported done at $38.00/t FOB, basis 3,800 kc NAR, for a March loading geared vessel. An offer was heard at $37.50/t FOB, basis 3,800 kc NAR, for an April loading geared vessel. Bids were said to be between $36.00-37.00/t FOB, basis 3,800 kc NAR, for April loading geared vessels, which were said to be priced at a discount to Panamaxes of around $2-3/t.

 

Paper

M42 traded at $37.50 for May in the morning session. Later in the day, May traded higher at $38.00, $38.25, $38.50 and $38.65. April also traded at $37.67-37.75. March was last heard bid at $37.60 and offered at $38.00, while April was bid at $37.30 and offered at $37.70. May was bid at $38.25 and offered at $39.00. Further out, Q2-21 was bid at $37.75 and offered at $38.25. A spread for March vs April was heard bid at M42 plus $0.30, while April vs May was offered at plus $0.05.

 

Source: IHS Markit