South Korea: Indonesia-South Korea coal freights slip 1% in latest KEPCO tender

• Pan Ocean quote covers 80,000 t, with 10% quantity tolerance
• Rate is slightly below previous Samarinda-Yeongheung fixture

Pan Ocean quoted $12.48/tonne (t) FIO to transport 80,000 t, with a 10% quantity tolerance, from Tarakan, Indonesia, to Yeongheung, South Korea, in KEPCO’s latest coal freight tender. The loading window is 19-28 September.

The quote is $0.14/t, or 1.1%, below the previous $12.62/t fixture for an 80,000-t Samarinda-Yeongheung cargo, secured by STL Global for loading on 17-26 September.

It is also $1.91/t, or 13.3%, lower than the $14.39/t rate secured by Hanaro for an 80,000 t Taboneo-Hosan shipment loading on 20-29 September.

The latest quote points to relatively softer freight levels for Indonesia-South Korea coal shipments, although route and vessel-positioning differences should be considered when comparing fixtures.