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Thermal Coal Miners Seeking New Destinations as India & China Cut Imports

Coal News - Published on Fri, 18 Sep 2020

Image Source: Coal Import India China
India’s imports of thermal coal fell by 41.5% to 32.9 million tonnes during April-June quarter while imports of coking coal fell by 28.6% to 9.71 million tonnes as coronavirus lockdowns battered demand. While lower coal imports is good news for the Indian government, which has been looking to cut down imports of the fuel, lower shipments will hit miners in Indonesia, South Africa and Australia. The world’s largest thermal-coal exporter Indonesia is eyeing new markets as its largest export destinations threaten to cut imports. Indonesia is targeting Bangladesh, Pakistan and Vietnam as China and India seek to curb thermal coal imports into the long term. As a result, Australian and South African thermal coal exporters aren’t going to have it all their own way in seeking increased deliveries to markets such as Vietnam. Furthermore, it looks increasingly like Vietnam, Bangladesh and Pakistan are going to disappoint those hoping for more demand growth from these countries.

Other established coal export destinations are also likely to reduce imports in the long term. South Korea has been the third-largest thermal-coal export destination for Australia, Indonesia and South Africa. However, this month President Moon Jae-in announced that 30 coal-fired power plants will be closed by 2034 and wind and solar capacity tripled by 2025.

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Posted By : Yogender Pancholi on Fri, 18 Sep 2020
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