- Latest bids fall below $13/t
- Tanjung Kampeh bid down 7% from previous indication
South Korea’s Korea Electric Power Corporation (KEPCO) latest coal freight tenders indicated some easing in Indonesian-origin freight, with bids of $11.51-12.11/tonne (t) FIO (Free In and Out) for shipments to Taean. The latest levels were below the $13.07-13.17/t bids seen in the previous tender on 22 September for shipments to Yeongheung, suggesting softer freight indications across the Indonesia-South Korea trade.
For Taean, Hanaro bid $11.51/t for 80,000 t from Muara Pantai, for 13-17 October, while Pan Ocean quoted $12.11/t for 80,000 t from Tanjung Kampeh, for 13-19 October. The Tanjung Kampeh bid was $0.96/t (7.3%) lower than Wooyang’s $13.07/t bid for a Tanjung Kampeh-Yeongheung shipment in the previous tender. Hanaro’s Muara Pantai bid was also $1.66/t below Pan Ocean’s earlier $13.17/t Muara Berau-Yeongheung indication.
The latest tender therefore points to softer Indonesia-South Korea freight indications, while the narrow spread between the two latest bids suggests broadly similar market levels for the respective Taean routes.
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