SGX M42F Thermal Coal - Daily Update 24 February 2020
Tuesday, February 25 2020 - 09:14 PM WIB
February month-to date:
Futures volume at 280kt, Open interest at 402kt
Total volume since January 2020: 392kt
Physical
Much like last week, offers were more prevalent than bids for Indonesian low-rank cargoes. For March loading, Panamaxes were heard offered at $37.00/t FOB and $37.50/t FOB, basis 3,800 kc NAR. Geared vessels loading in March were heard offered at $36.00-36.25/t FOB, basis 3,800 kc NAR. A bid for a March loading geared vessel was also reported at $33.75/t FOB, basis 3,800 kc NAR. There was talk of a deal being done for a geared vessel loading in March at $35.00/t FOB, basis 3,800 kc NAR, although this could not be confirmed at the time of writing. Offers for geared vessels loading in April were plentiful, ranging from $35.50-36.00/t, basis 3,800 kc NAR. A solitary bid was reported at $34.50/t FOB, basis 3,800 kc NAR, for an April loading geared vessel.
Paper
M42 paper, listed on SGX, was bid for February at $35.65 and offered at $36.15. Further out, March was bid at $34.70 and offered at $35.35, while April was bid at $34.00 and offered at $35.35. A spread for March vs April was bid at $0.00 and offered at plus $0.65.
Source: IHS McCloskey