SGX M42F Thermal Coal - Daily Update 19 August 2020

6kt traded in Tuesday T session:

• Q4-20 traded 6kt @ $25.70

 

August month-to date:

Futures volume at 134kt, Open interest at 417kt

 

Total volume since January 2020: 2,274kt

 

Physical

Indonesia will be on national holiday for the next two days, so this was a busy day for suppliers servicing existing contracts, if not seeking new business. Offers continue to dominate the limited activity reported for Indonesian material, although a deal was reported for a low-rank cargo. A Panamax was understood to have traded at $23.80/t FOB, basis 3,800 kc NAR, for September loading. A geared vessel loading in September was understood to have traded at $23.20/t FOB, basis 3,800 kc NAR, which is around the same level as deals for August loading reported last week. A second half of September loading geared vessel was heard offered at $23.80/t FOB, basis 3,800 kc NAR. A geared vessel loading in October was heard offered at $25.50/t FOB, basis 3,800 kc NAR. Bids were few and far between, although one was reported at $22.00/t FOB, basis 3,800 kc NAR, for a geared vessel loading in late September, early October.

 

Paper

M42, listed on SGX, was bid for August at $23.75 and offered at $24.20, with September bid at $23.20 and offered at $24.00, while October was bid at $23.75 and offered at $25.00. Further out, Q4-20 was bid at $25.20 and offered at $26.00.

Source: IHS Markit.