Taiwan’s coal import achieved its highest monthly total for the CY18, as the import by the country has hit 7-month high in May’18.
According to the data provided by customs, Taiwan’s coal import in May’18 has increased 18% M-o-M to 6.56 MnT compared with 5.58 MnT in Apr’18. However, on the yearly basis, coal import by the country was 10% lower from 7.31 MnT in May’18.
The rise in global coal prices has certainly affected the performance of state-run Tai Power, which has reported huge loss during the first half of the CY18 (Jan’18-Jun’18).
Media reports have stated that Taiwan Power Company (Tai Power), a government utility providing electricity to Taiwan, has recorded a loss of NT USD (New Taiwan Dollar) 24 Billion (785 Million in US Dollar) during Jan’18-Jun’18, making it the only one among the 4 state-run enterprise to suffer a loss during the period. The loss had widened from NT USD 7.1 Billion in the same period last year.
The other three state-operated companies under listed Taiwan’s Ministry of Economic Affairs (MOEA) are Taiwan Sugar Corp, Taiwan Water Corp, and Oil refiner CPC Corp, Taiwan.
The company has attributed the loss to higher coal prices compared to the last year. In addition, the company had to increase electricity output from its costly natural gas generators in accordance with the government’s air pollution control and coal-reduction policies.
During the first five months of CY18, Taiwan’s coal import has fallen 9% Y-o-Y to 27.12 MnT, customs data showed.
Major Coal Exporters:
Australia remained the largest coal provider to Taiwan in May’18. Australian coal exports increased 16% M-o-M to 2.86 MnT in May’18, but were 11% lower on the year from 3.22 MnT in May’17.
Indonesia had also witnessed a growth in monthly coal exports, but had recorded fall from the year-ago month.
Russian coal exports to Taiwan had recorded an increase both on the monthly and yearly basis, were marked at 1.35 MnT in May’18.
Canadian coal exports had remain unchanged during the month, while South African coal export to Taiwan had decreased 67% M-o-M to 0.16 MnT in May’18.
Source: Taiwan Customs | Quantity in MnT
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