Kospo heads Korean Richards Bay interest

摘要

The return of South African material into Korea is looking like a distinct possibility with a number of freight enquiries for the leg out. In addition, Korea Southern Power (Kospo) is rumoured to be investigating Richards Bay Q3 and Q4 prices. Kospo is said to be looking at the possibility of using a new dedicated 185,000t vessel, which is due to come into service in June. It has a policy of diversifying its coal sourcing. On top of concerns about volumes coming out of China, the re-implementation of the quota system at Australia's Newcastle port is pushing Kospo and other gencos to look for replacement high c.v. material. The current tender from Korea Western Power (Kowepo) has stimulated a number of traders to explore the Richards Bay supply option. In addition Korean South East Power (Kosep) is looking for 780,000t in a tender issued today.