- KEPCO books 80,000 t cargo from Westshore to Boryeong
- Tender reflects current Pacific coal freight levels
South Korea’s Korea Electric Power Corporation (KEPCO) has concluded a fresh Panamax freight tender, fixing Wooyang to transport an 80,000 tonne (t) coal cargo from Westshore, Canada, to Boryeong, South Korea, with a 22-31 August loading window, at $21.14/t FIO.
The fixture offers a fresh pricing indication for the Canada-Korea coal route at a time when freight sentiment across the Pacific remains subdued. Limited thermal coal procurement has kept chartering activity muted, while ample prompt Panamax tonnage has intensified competition among shipowners, weighing on freight negotiations.
Lower bunker costs have added further pressure on voyage rates. Bunker prices declined by $25/t (3%) w-o-w to $801/t on 6 August, from $826/t a week earlier, tracking softer marine fuel values as concerns over immediate Middle East supply disruptions eased and fuel availability improved across major bunkering hubs. Although crude oil prices remained relatively firm on geopolitical risks, the decline in bunker costs helped charterers secure more competitive freight levels.
Outlook
Freight sentiment on the Westshore-Korea route is expected to remain dependent on upcoming utility coal tenders, Pacific cargo demand and vessel supply. Market participants will closely track subsequent KEPCO fixtures and broader Pacific chartering activity to gauge the direction of Panamax freight rates.
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