- Tender closed at $13.05/t FIO for 80,000-t coal from NPLCT, Indonesia
- Brent crude futures for Nov’26 rise 8% w-o-w, Singapore VLSFO surges 9%
South Korea’s Korea Electric Power Corporation (KEPCO) has concluded a fresh Panamax coal tender at $13.05/tonne (t) FIO for an 80,000 t cargo from North Pulau Laut Coal Terminal (NPLCT), Indonesia, to Dangjin, South Korea, with Pan Ocean fixed for 20-24 September loading.
The latest freight is $0.23/t, or 1.8%, higher than KEPCO’s previous fixture at $12.82/t FIO for an 80,000 t cargo from Bunati, Indonesia, to Boryeong, South Korea, for 18-27 September loading.
The increase marks a further firming in KEPCO’s Panamax freight levels, although the gain is considerably smaller than the $1.49/t, or 13.2%, rise recorded in the previous tender concluded on 3 September.
Market sentiment has also been supported by a sharp rise in global bunker prices. Brent crude futures for November 2026 rose 7.6% w-o-w to $95.15/barrel (bbl) in the week ended 4 September, while Singapore Very Low Sulfur Fuel Oil (VLSFO) increased 8.6% to $844/t. Higher fuel costs could support voyage economics, although vessel availability and cargo demand remain the key freight drivers.
In the near term, Indonesia-South Korea Panamax freight could remain firm as KEPCO continues coal procurement.
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