South Korea: KEPCO tenders show mixed Panamax freight trends across Australian routes

• Gladstone-Hadong freight softens while Newcastle-Dangjin rates firm 
• Steady Korean utility demand continues to underpin Panamax Pacific fixtures

South Korea’s KEPCO tenders in the latest round reflected a mixed but broadly stable tone in the Panamax coal market, with utility-driven demand continuing to support fixture activity across key Pacific routes.

On the Australian front, KEPCO fixed an 80,000 tonnes (t) Gladstone-Hadong cargo on Wooyang for 10-19 July at $14.77/dmt FIO, down $1.13/dmt (-7.1%) from the earlier Gladstone-Boryeong fixture at $15.90/dmt, indicating some easing in freight levels despite steady enquiry flow.

In contrast, the Newcastle-Dangjin cargo on Pan Ocean for 8-17 July was concluded at $16.10/dmt FIO, up $0.20/dmt (+1.3%) compared to the previous Australian fixture, suggesting firmer sentiment on the longer-haul route.

Overall, the latest tenders point to a balanced Pacific market, where steady Korean utility buying continues to underpin demand, while freight direction remains uneven across routes depending on voyage length, vessel positioning, and cargo timing.