SGX M42F Thermal Coal - Daily Update 2 July 2019

July month-to date:

Futures volume 0kt, open interest 20kt

 

Total volume since April 2018: 829kt

 

Physical 

Loading continues to improve across Kalimantan, with shippers playing catch up after the flooding of a fortnight ago. While end user interest remains limited, largely due to high inventory levels in China and India, offers for prompt loading cargoes were firming. For low rank, offers were reported at $37.50-38.50/t FOB, basis 3,800 kc NAR, for August loading Panamaxes. A bid was also reported for $35.00/t FOB, basis 3,800 kc NAR, for an August loading geared vessel. Offers were also reported at $36.76/t FOB and $36.00/t FOB, basis 3,700 kc NAR, for August loading Panamaxes and Supramaxes, respectively.

 

Paper

M42 paper, listed on SGX, was bid at $35.50 and offered at $36.00 for July today. August was bid at $35.45 and offered at $35.90, while September was bid at $34.80 and offered at $35.90. Further out, Q4 2019 was bid at $34.10 and offered at $35.90. Spreads were also reported for August vs September with the bid at $0.10 and the offer at $0.65. A spread for September vs October was also bid at $0.10 but offered at $0.75. (ends)