- Latest fixture concluded 4.9% below previous tender
- Gladstone-Taean fixture highlights softer freight sentiment amid subdued Pacific market
South Korea’s Korea Electric Power Corporation (KEPCO) concluded its latest Panamax coal tender at a lower freight level than its previous fixture on 29 July 2026, pointing to further easing in Pacific Panamax freight sentiment.
KEPCO fixed Pan Ocean for 80,000 tonnes (t) Gladstone, Australia-Taean, South Korea, for 16-25 August loading at $15.63/dmt FIO.
The latest rate is $0.80/dmt (4.9%) lower than KEPCO’s previous fixture at $16.43/dmt FIO, which covered 60,750-72,500 t Gladstone-Boryeong for the same 16-25 August loading window. While the routes differ, the consecutive fixtures indicate softer freight levels in KEPCO’s recent procurement activity.
The decline comes amid relatively subdued Pacific chartering activity and adequate vessel availability, keeping owners’ rate expectations under pressure. Vessel positioning, cargo enquiry levels and bunker costs will continue to influence Panamax freight across the Australia-Korea trade.
Outlook
Panamax freight on the Australia-Korea route is likely to remain under pressure unless an increase in coal procurement or tightening prompt vessel availability provides support. KEPCO’s upcoming tenders and fresh Pacific fixtures will be key indicators of whether the recent decline develops into a broader downward trend.
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