Indonesia's coal exports increase by 20% y-o-y in H1CY'24

• Exports to India rise over 26% y-o-y
  
  
• Export offers from Indonesia fall in H1
  
  

Indonesian coal exports rose by 20% in H1CY'24, reaching 208.50 million tonnes (mnt) compared to 173.77 mnt in H1CY'23, as per vessel line up data maintained with BigMint.

In H1CY'24, Indonesian non-coking coal exports stood at 206.50 mnt and coking coal at 2 mnt. Indonesian coal exports dropped by -5.65% m-o-m to 36.56 mnt in June 2024 as against 38.75 mnt in May 2024.

Exports to Asian countries: Coal exports to Asian countries reached 205.88 mnt in H1CY'24 compared to 170.99 mnt in H1CY'23. This was a 20.39% rise from the previous year but a 6.38% decrease from May, constituting 98.73% of total exports.

• China: China remained the top destination, with shipments totalling 61.42 mnt in H1CY'24 compared to 51.99 mnt in H1CY'23, up 18.17% y-o-y.
  
  
• India: Exports to India were 57.52 mnt in H1CY'24 against 45.48 mnt in H1CY'23, a significant 26.47% y-o-y increase but a 28.37% m-o-m decrease. Amid a searing heatwave prevailing in vast swathes of the country from mid-April through June with temperatures touching record highs, the country witnessed its electricity generation rising by over 9% y-o-y to 913.69 billion units (BU) in H1CY'24 compared with 836.829 BU in the same period of last year, which supported imports.
  
  
• The Philippines: Exports to the Philippines rose by 16% y-o-y to 16.62 mnt in H1CY'24 compared to 14.33 mnt in H1CY'23.
  
  
• Vietnam: Shipments to Vietnam increased by 68.04% y-o-y to 12.20 mnt in H1CY'24 against 7.26 mnt in H1CY'23, but dropped by -14.33% m-o-m.
  
  

Port-wise exports

Exports from Samarinda decreased by -28.36% y-o-y to 32.75 mnt in H1CY'24 as against 45.72 mnt H1CY'23 and dropped by -3.11% m-o-m to 7.79 mnt in June 2024. Exports from Taboneo increased by 42.62% y-o-y to 35.17 mnt in H1CY'24 as against 24.67 mnt in H1CY'23 and increased by 4.62% m-o-m at 6.11 mnt in June 2024.

Price trends

Imported Indonesian coal prices weakened during H1 compared with the same period of last year on largely weak Asian thermal coal seaborne demand and slow economic activities in China. Indonesian benchmark 4200 GAR coal ranged within monthly averages of $57-53/t FOB Kalimantan in January-June this year - far lower than $70-85/t FOB levels prevailing in January-April last year.