- Marginal drop points to cautious Indonesia-Korea sentiment
- Fresh cargo enquiries limited, but owners not willing to trim offers
South Korea’s Korea Electric Power Corporation (KEPCO) has concluded a fresh Panamax coal tender at $10.82/tonne (t) FIO for a 72,000-77,000 t cargo from Tanjung Kampeh, Indonesia, to Yosu, South Korea, for a 22-27 August loading window. Korea Line was fixed for the shipment.
The latest fixture is $0.17/t, or 1.5%, lower than KEPCO’s previous Indonesia-Korea fixture of $10.99/t FIO for a 72,000-77,000 t Taboneo-Yosu shipment concluded on 11 August.
The marginal decline indicates limited movement in Indonesia-Korea Panamax freight, with the latest tender suggesting that charterers continue to find workable tonnage around current levels. Market sentiment remains cautious, as fresh cargo enquiries have not been strong enough to drive a meaningful increase in freight, while owners are also reluctant to concede significantly on offers.
Outlook
Indonesia-Korea Panamax freight is likely to remain stable to slightly softer in the coming days unless fresh coal enquiries increase or prompt vessel availability tightens. Further KEPCO tenders and chartering activity will be key indicators of whether current freight levels can hold.
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