Major Indonesian coal miners were seeking exemption from coal export prohibition that was put in place in the very beginning of 2022, citing mounting costs from stranded ships and subsequent demurrage and penalty charges from the delay of deliveries accoirding to a reuters report. The world’s largest thermal coal exporter announced the ban on exported coal to avert domestic power outages, which triggered supply concerns among its biggest customers such as China, Japan.
The ban has driven coal prices in China and Australia higher this week, while about 100 vessels ready to load a total of 5.9 million tonnes of coal amassed off Kalimantan
Bumi Resources, Indonesia’s biggest coal miner, said in an exchange filing that while the company was still analysing the financial impact of the export ban and hoped that the government will immediately lift the export ban on companies who have fulfilled their domestic markets obligation.