South Korea: KEPCO fixes latest Australia coal freight at sharply higher level than previous tender

• Gladstone-Hadong freight rises 60% from previous Australia fixture
• New Taboneo-Yosu fixture provides fresh Indonesia-Korea benchmark

South Korea’s Korea Electric Power Corporation (KEPCO) has concluded two fresh Panamax coal tenders, with the latest Australia-Korea fixture indicating a sharp recovery in freight from the previous comparable tender.

Hyundai Glovis was fixed to transport 80,000 tonnes (t) of coal from Gladstone, Australia, to Hadong, South Korea, for a 24-30 August loading window at $16.44/t FIO. The fixture is $6.17/t, or 60.1%, higher than KEPCO’s previous Australia-linked fixture at $10.27/t FIO, concluded on 5 August. While the discharge ports differ, both fixtures involve Gladstone-origin coal and provide a useful indication of freight sentiment on the Australia-Korea trade.

Separately, Hanaro was fixed to carry 72,000-77,000 t from Taboneo, Indonesia, to Yosu, South Korea, for a 22-26 August loading window at $10.99/t FIO.

The latest Australia fixture points to a firmer freight market compared with the previous KEPCO tender. The Indonesia-Korea fixture provides a fresh reference for the route, with further tenders needed to establish a clear trend.

Outlook

Panamax freight on Australia-Korea routes may remain supported if fresh coal enquiries continue and prompt vessel availability remains tight. The Taboneo-Yosu fixture will provide a useful reference for subsequent Indonesia-Korea tenders, while broader Pacific chartering activity will determine whether the latest Australia-linked increase can be sustained.