- Stable rate signals limited movement on Canada route
- Stability comes despite stronger rates in broader market
South Korea’s Korea Electric Power Corporation (KEPCO) has concluded a fresh Panamax freight tender for an 80,000 tonne (t) coal cargo from Westshore, Canada, to Boryeong, South Korea, with a 22-31 August loading window. The cargo was fixed on Wooyang at $21.14/t FIO, with 5,000 t per day SHEX at the load port and 22,500 t per day SHINC at the discharge port.
The latest settlement matches the $21.14/t rate achieved in KEPCO’s previous Vancouver-Boryeong tender, indicating that freight levels on the route have remained stable between the two fixtures. The unchanged outcome comes despite firmer sentiment in parts of the wider Panamax market, where stronger coal enquiries and tighter prompt tonnage have supported rates on several routes.
The tender provides a fresh indication of freight levels for Canadian coal shipments into South Korea. The stability in KEPCO’s latest procurement suggests that the improvement in broader Panamax fundamentals has not yet translated into higher freight costs on the Vancouver-Boryeong corridor.
Outlook
Panamax freight on the Vancouver-Boryeong route is likely to remain stable in the coming weeks, with the unchanged KEPCO settlement indicating balanced vessel availability and cargo demand. Further direction will depend on fresh coal stems and broader Panamax market momentum.
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