Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* million tons in April 2012. May coal exports dropped around a percent compared to April exports.
According to available information from coal exporters, China was the largest importer of Indonesian coal in May, followed by India. China’s Indonesian coal imports reached around 11.19* million tons in May, in the meantime India's imports around 7.57* million tons.
83.76* percent of total Indonesian coal exports in May shipped to top five traditional coal importers of Indonesian coal such as China, India, South Korea, Taiwan And Japan.
“Inquiries from India and China are still in the market, but the conclusions rates are lower compare to floating of inquiries” said an international coal trader. The FOB bids are not favoring suppliers at this moment, the gap between offers and bids are quite wider he added.
“This is the bottom level of price that we can accept to sell our cargo. If the coal prices fall further we may cut our production or if the situation gets worse then we may stop production until the situation rebound”, said a top officer from a coal mine in Sumatara. An another coal miner from South Kalimantan also shared the same view. Some small scale producers have already reduced their output to around 50 percent.
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