Cargoes of Indonesian 4200 GAR coal for immediate shipments have been scarce in the past week as most miners have sold out their supply until August, while wet weather in some producing areas in Kalimantan further squeezed supply.
“There aren’t any miners offering any spot shipments of the 4200 GAR because they have sold out until the end of August. Cargoes are being offered only by trading companies,” said an Indian trader. Miners offer cargoes for September and October, he said.
Offers for 4200 GAR was barely changed from the previous week at USD 49/MT for single mine coal loading at supramax vessel.
An Indonesian trader based in Surabaya said his company has yet to offer any cargoes because rains still hampered mining, squeezing supply.
Best offer for Indonesian coal of 3800 GAR is quoted at USD 39.5/MT from East Kalimantan for end July lay can. But traders have also taken positions for 3800 GAR, the Indian trader said.
“There are no fresh spot inquiries from Indian market. Smaller end-users are buying from the stockpiles at ports in India,” he added.
Meanwhile, Indonesian high calorific value coal is facing stiff competition from Australian and South African coal.
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