Indonesia miners seek solution as coal export ban rattles sector – by Fransiska Nangoy and Bernadette Christina, Sudarshan Varadhan (Reuters – January 3, 2022)

JAKARTA/CHENNAI, Jan 3 (Reuters) – Indonesian coal miners are seeking a quick resolution to a government coal export ban that has caused fuel prices to rise and could disrupt the energy supplies of some of the world’s biggest economies.

The world’s leading exporter of thermal coal on Saturday banned the shipments because of concerns it could not meet its own power demand. But the risk is a knock-on impact on economic linchpins China, India, Japan, and South Korea, which together received 73% of Indonesian coal exports in 2021, shiptracking data from Kpler showed.

Major coal trading hubs such as Australia are closed on Monday to mark new year holidays, but prices for coal to India’s west coast have climbed by as much as 500 rupees ($6.73) per tonne since the ban was announced, Riya Vyas, a business analyst at iEnergy Natural Resources Limited, said.

She did not know of any instances of force majeure, which exporters declare when they cannot supply fuel because of events beyond their control.

For the rest of this article: