Taiwan coal imports have increased 20% M-o-M to 6.38 MnT in May’19, as the country stepped-up its coal sourcing to meet the summer power demand. Import volumes were however marked slightly lower on the year from 6.56 MnT in May’18.
Amid a slowdown in global coal pricing, Taiwan has significantly improved its coal intake from Australia, taking shipments in excess of 3 MnT in three of the first five months of CY19. Notably, Australian benchmark price index for thermal coal-NEWC assessed at USD 72-73/MT in Jul’19, has fallen nearly 35% since the beginning of CY19.
Australian coal export to Taiwan was marked 20% higher on the month at 3.24 MnT in May’19, also rising 13% Y-o-Y from 2.86 MnT in May’18.
Taiwan had witnessed a year-high monthly coal shipment from Indonesia and Russia during May’19, which was sufficient to overcome the drop in coal receipt recorded from Canada.
Coal supplies from Indonesia rose 14% M-o-M to 1.89 MnT in May’19, marking its highest monthly total for CY19. Whereas Russian coal exports to Taiwan hit a 10-month high total rising to 1.11 MnT in May’19.
Taiwan’s coal receipt from Canada continued its declining trend, falling 59% M-o-M to 0.09 MnT in Jun’19. China with 0.05 MnT coal exports was the other noticeable coal supplier during the month.
During the first 5 months of CY19 (Jan-May’19), coal imports by Taiwan has reached 27.56 MnT, up 2% Y-o-Y from 27.12 MnT in the corresponding period of CY18.
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