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Indonesian coal exports rose sharply in December, with shipments to China reaching an all-time high. The increase took overall shipments for the last year to 407mn, slightly higher than a government-set target for the year of 400mn t, although exports for the whole of 2020 fell on the year for the first time since 2015.
Indonesia, the world's largest thermal coal exporter, shipped about 41mn t in December, up by 3.38mn t on the year and the highest since October 2019, customs data show.
Indonesian coal production also exceeded the government's 550mn t target for 2020, with output at around 563mn t. But this was down from 616.2mn t in 2019, when domestic consumption totalled 138mn t, energy ministry data show. Total coal exports reached 459.1mn t in 2019, customs data show.
Stronger-than-expected output in 2020 and a year-on-year drop in exports and local consumption may have boosted inventories across the country. But domestic demand is expected to rebound this year, which, coupled with steady Chinese demand for Indonesian coal, could help tighten the fundamental balance.
Source: Argusmedia
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