07/05/26
Indonesian coal exports fall in March
Singapore, 7 May (Argus) — Indonesia's coal exports fell on the year for the
third consecutive month in March, led by lower demand for seaborne shipments
from major importing countries China and India. The world's largest coal
exporter shipped 37.6mn t of all types of coal in March, falling by 8.1pc on the
year, according to Indonesian customs data. But shipments were up by 2.8pc from
February. Overall shipments in the first quarter of 2026 totalled 113.8mn t,
down by nearly 8pc from the same period a year earlier. Indonesia's exports have
fallen for three consecutive months after peaking at 51.2mn t in December 2025.
The country has yet to approve all mining quotas for coal miners in the country,
with no official update to the 580mn t of approved RKABs announced on 7 April.
Indonesia had earlier hinted at a production target of 600mn t for 2026, down
from 790mn t produced in 2025. Several miners have yet to receive their RKABs
and are not able to offer shipments to its customers. Some producers who have
received their RKABs are also under pressure from government directives to
prioritise sales to domestic power plants, limiting the availability for spot
seaborne shipments. Shipments to China totalled 12.07mn t in March, falling by
21pc on the year and down from 14.23mn t in February, customs data show. Higher
thermal coal prices in March, led by tight supply and a surge in freight rates
due to the onset of the US-Iran war have put pressure on Chinese buyers'
procurement plans. Chinese market participants took a cautious approach to
buying coal and have generally resisted higher offers of Indonesian coal.
China's thermal coal imports fell by 8pc on the year in March because of
volatile seaborne prices and stable domestic supply. China imported 25.92mn t of
thermal coal in March — including non-coking bituminous coal, sub-bituminous
coal and lignite — down from 28.19mn t a year earlier, according to Chinese
customs data. Indonesian exports to India dropped by 13pc on the year to 7.81mn
t in March but was slightly higher from 7.35mn t in February. India remains
well-supplied with domestic coal and increased imports from South Africa
instead. Combined stocks across India's plants, mines, ports, transit and
stockyards were estimated at close to 200mn t as of mid-March. This is
sufficient to meet India's coal burn requirement for an estimated 65 days.
Elevated stockpiles throughout the first quarter of 2026 weakened utility
procurement of imported coal. Exports to southeast Asia reached 10.6mn t in
March, up by nearly 8pc on the year and by 27pc from February. The increase in
exports the region was led by more shipments to Thailand, Vietnam and
Philippines. Exports to Bangladesh fell slightly by 1.3pc on the year to 1.36mn
t in March and was also down by 9.6pc from February. By Nadhir Mokhtar
Indonesian coal exports by origin t Mar '26 ± on-month (%) ± on-year (%) Mar '25
Feb '26 China 12,074,004 -15.2 -21.3 15,333,294 14,232,964 India 7,814,002 6.3
-12.7 8,947,970 7,347,505 Vietnam 3,161,438 54.7 11.3 2,840,145 2,043,543
Philippines 3,013,526 16.9 2.1 2,951,673 2,577,074 Japan 2,404,784 23.8 54.4
1,557,027 1,942,388 Malaysia 2,284,625 66.0 -3.3 2,361,882 1,376,666 South Korea
1,698,102 -28.8 -13.3 1,958,761 2,385,358 Bangladesh 1,364,321 -9.6 -1.3
1,382,875 1,508,472 Thailand 1,214,303 15.1 15.1 1,054,998 1,055,333 Others
2,575,323 21.8 1.0 2,550,214 2,114,213 Total 37,604,428 2.8 -8.1 40,938,839
36,583,516 Indonesia customs data Send comments and request more information at
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