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Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER


COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.

China was a largest importer of Indonesian coal in October 2011 and pushed India to quite far. China bought nearly 12.58 million tons of coal from Indonesia last month and India has imported only  3.96 million tons, which is only around 30 percent of Chinese's imports.

40.38 percent of total Indonesian coal exports in October shipped to China.

Indian imports were dropped drastically since last two months, acording to available export data.

"Despite an acute fuel shortage, Indian power producers are refusing to buy expensive coal, leaving coal importers to face big losses as stocks mount up. Coal stock piles at various ports have reached record levels and are estimated to surpass the 11Mt mark", as stated by economic times.

However as reported by business spectator of Australia, "By 2020, when it comes to coal imports, India will be a new China as the largest importer of coal in the world. Coal is set to remain a major energy source alongside oil over the next 25 years on strong Asian demand, an uncertain outlook for nuclear power and despite the popularity of natural gas. Coal will be very competitive for a long time," Richard Jones, deputy executive director of the International Energy Agency (IEA) told AFP in an interview.

"Coal will remain the main energy in many countries, principally China and India," Jones said last week as the IEA published its 25-year outlook, business spectator further said.

“Chinese's interest for Indonesian coal still there, but it is not as last few weeks back", said a trader. 

Chinese buyers are dominating Indonesian coal exports since the end of 1st quarter of this year, and the trend will expected to continue and China will be major importer of Indonesian coal for this year, said market players. Chinese buyers are also keen to buy Indonesian high sulphur coal coampre to Indian buyers.

South Korea, Japan and Taiwan  have imported  8.96 million tons of coal in October 2011.

The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee and COALspot.com disclaims all responsibility or liability. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.



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