South Korean fixtures support Panamax coal demand; Australian cargoes command premium over Indonesia

• KEPCO awards 80,000-t coal transport tender to Pan Ocean
  
  
• Freight trends diverge, with Australia firming and Indonesia softening
  
  

South Korea remained a key demand centre in the Panamax coal freight market this week, drawing fresh fixtures from both Australia and Indonesia amid steady import requirements.

The country's utility giant Korea Electric Power Corporation (KEPCO) awarded a coal transportation contract to Pan Ocean for an 80,000 tonnes (t) cargo from Dalrymple Bay Coal Terminal (DBCT), Australia, to Dangjin. The shipment, scheduled for loading between 16-21 June 2026, was fixed at $19.87/dmt on FIO terms. Freight levels rose notably by around $2.1/dmt m-o-m compared with the previous tender concluded on 29 April.

In a separate deal, a South Korea-based shipowner, Dong-A Tanker chartered a Panamax vessel to move a 72,000-77,000-t coal cargo from Taboneo/Tabang Coal Terminal (TBCT), Indonesia, to Yeosu. The cargo, slated for loading between 6-15 June 2026, was fixed at $11.11/dmt on FIO terms.

In contrast to the Australian route, freight rates declined by about $2.12/dmt versus the last fixture on 8 May.

The wide spread between the two routes highlights the premium for Australian cargoes, driven by longer voyage distances and differing Pacific market fundamentals. Ongoing procurement by South Korean buyers continues to underpin regional Panamax demand, while vessel supply and bunker price movements remain critical in shaping freight rate direction.