- Newcastle-Hadong freight crosses $23/t
- Indonesia-origin rates remain below $15/t
South Korea’s Panamax coal freight market showed a wider divergence between Australia and Indonesia origins on 9 September, with Australia-linked rates rising sharply while Indonesia fixtures remained below the $15/t mark in KEPCO’s latest tenders.
Korea Line was fixed at $23.21/tonne (t) FIO for 80,000 t from Newcastle to Hadong for 23 September-2 October loading. The fixture was notably above the $19.77-$19.92/t range recorded for Australia-Korea cargoes in the previous day’s KEPCO tenders.
Indonesia-origin rates, meanwhile, moved in opposite directions. Hanaro was fixed at $14.39/t for 80,000 t from Taboneo to Hosan for 20-29 September, while STL Global secured $12.62/t for 80,000 t from Samarinda to Yeongheung for 17-26 September.
The Taboneo-Hosan fixture was $1.34/t, or 10.3%, higher than the previous day’s $13.05/t Indonesia-Korea rate, while the Samarinda-Yeongheung fixture was $0.43/t, or 3.3%, lower.
With Newcastle-Hadong at $23.21/t against Taboneo-Hosan at $14.39/t, the latest tenders point to a freight differential of nearly $9/t between Australia and Indonesia origins.
The widening spread suggests stronger freight costs for Australia-origin coal, while Indonesian cargoes continue to retain a clear cost advantage for South Korean buyers.
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