- Yeongheung bids rise 5% from previous tender
- Gangneung bid carries wider $2/t premium
South Korea’s Korea Electric Power Corporation (KEPCO) coal freight tender on 22 September drew bids of $13.07-14.60/tonne (t) FIO for Indonesian-origin cargoes, with all three offers above the $12.48/t quoted by Pan Ocean in the previous tender for a Tarakan-Yeongheung shipment on 13 September.
For Yeongheung, Wooyang offered $13.07/t for 80,000 t from Tanjung Kampeh, while Pan Ocean quoted $13.17/t for 80,000 t from Muara Berau. The bids were $0.59-0.69/t, or 4.7-5.5%, higher than the previous Tarakan-Yeongheung quote.
The two latest Yeongheung bids were closely aligned, with only $0.10/t separating them despite different loading ports.
GNS bid a significantly higher $14.60/t for 80,000 t from NPLCT to Gangneung. The bid was $2.12/t, or 17.0%, above the previous $12.48/t tender freight and $1.43-1.53/t higher than the latest Yeongheung bids.
The latest tender therefore points to firmer freight indications across the comparable Indonesia-South Korea market, while the wide spread between bids suggests route-specific freight economics remain important.
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