South Korea: KEPCO’s Samarinda-Hadong fixture points to stable Pacific Panamax coal freight market

• Shorter voyage distance, route-specific dynamics prompt drop in fixture
• Regular utility demand continues to support Pacific Panamax market

South Korea’s latest KEPCO tender reflected a broadly steady tone in the Pacific Panamax coal freight market, with regular utility procurement continuing to underpin fixture activity despite route-specific price variations.

KEPCO fixed a 70,000 tonnes (t) coal cargo from Samarinda, Indonesia, to Hadong, South Korea, with loading during 01-10 July, at $8.49/dmt FIO (voyage basis).

The fixture was $1.45/dmt (17%) lower than KEPCO’s previous Tarahan, Indonesia-Goseong, South Korea fixture at $9.94/dmt FIO, primarily reflecting the shorter voyage distance and route-specific freight dynamics rather than a weakening in market sentiment.

The latest fixture suggests that Panamax freight sentiment across the Pacific remains broadly stable, supported by consistent South Korean utility demand, while pricing continues to vary according to voyage length, vessel positioning, and loading schedules.