SGX M42F Thermal Coal - Daily Update 7 May 2019

May month-to date:

Futures volume 0kt, open interest 65kt

 

Total volume since April 2018: 714kt

 

Physical 

For low-rank, a couple of gearless Panamaxes were understood to have traded at $39.50/t FOB and $39.80/t FOB, basis 3,800 kc NAR, for May loading. This is lower than a Panamax deal heard yesterday at $40.25/t FOB, basis 3,800 kc NAR, also for May loading, although the exact material was not disclosed. A deal for a geared vessel was also reported today done at $39.00/t FOB, basis 3,800 kc NAR, for May loading. This was also lower than a deal reported yesterday at $39.50/t FOB, basis 3,800 kc NAR, but again the exact material was not reported.

 

Paper

M42 paper, as listed on SGX, was bid at $38.75/t for May and offered at $39.25/t. A market for June was bid at $38.60/t against an offer at $39.40/t while July was bid at $38.50/t against an offer at $40.25/t. August was bid at $37.95/t against an offer at $40.10/t. Further out, Q3 2019 was bid at $37.95/t and offered at $40.15/t, while Q4 2019 was bid at $35.50/t against a bid at $39.90/t. M42 Spreads for May/June were quoted bid at minus $0.20/t against an offer at plus $0.50, while spreads for June/July were bid at minus $0.10/t and offered at plus $0.65/t. Meanwhile, July/August and August/September were both bid at minus $0.10/t and offered at plus $0.55/t. A spread for Q3/Q4 was reported bid at minus $0.30/t against an offer at plus $1.65/t. (ends)