- Freight gains $0.51/t from 13 August fixture
- Higher rate indicates firmer Panamax sentiment
South Korea’s Korea Electric Power Corporation (KEPCO) has concluded a fresh Panamax coal tender at $11.33/tonne (t) FIO for an 80,000 t cargo from Tanjung Kampeh, Indonesia, to Yongheung, South Korea. The vessel is scheduled to load between 5-14 September, with Dong-A Tanker fixed for the shipment.
The latest fixture is $0.51/t, or 4.7%, higher than KEPCO’s previous Indonesia-Korea Panamax fixture of $10.82/t FIO for a 72,000-77,000 t cargo from Tanjung Kampeh to Yosu, South Korea, for 22-27 August loading. Korea Line was fixed for the previous shipment.
The higher freight rate suggests a firmer Indonesia-Korea Panamax market compared with mid-August. The latest tender also marks a reversal from the marginal decline seen in the previous fixture, when freight fell 1.5% from $10.99/t for the Taboneo-Yosu shipment concluded on 11 August.
Outlook
Indonesia-Korea Panamax freight is expected to remain broadly firm in the coming weeks, supported by higher rates in the latest KEPCO tender. Further coal enquiries and vessel availability will remain key drivers of freight direction.
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