- Five Ocean bids $13.33/t for 75,000 t shipment
- Latest bid rises 10.4% from previous tender indication
South Korea’s Indonesian coal freight market showed firmer indications in the latest Korea Electric Power Corporation (KEPCO) tender, with Five Ocean bidding $13.33/tonne (t) free in and out (FIO) for a 75,000 t shipment on 8 October 2026 from Tanjung Kampeh, Indonesia, to Hosan, South Korea, for loading on 21-27 October.
The bid was $1.26/t, or 10.4%, higher than Hanaro’s $12.07/t bid in the previous tender on 7 October for a 75,000 t shipment from Muara Pantai, Indonesia, to Hosan, scheduled for loading on 19-28 October.
The higher bid indicates firmer freight sentiment on the Indonesia-South Korea route, reflecting a stronger shipping cost indication for late-October cargoes. However, as the two tenders involved different Indonesian loading ports and laycan periods, the increase may not be attributed solely to a broad-based rise in freight rates. Market direction will depend on prompt vessel availability, bunker costs and the level of coal shipment demand from South Korean utilities in the coming weeks.
Leave a Reply