Friday, 30 Dec 2011
It is reported that fast rising economies in Southeast Asia, Indonesia and Vietnam have taken different strategies in handling rising coal demand in the region.
Vietnam has announced that it will calibrate its exports to meet increasing coal demand in the domestic markets. Indonesia, on the other hand plans to increase exports and meet rising demand in the Asia Pacific Region.
The Indonesian Coal Mining Association said Jakarta is expected to upgrade its output in 2012 to no less than as 390 million tonnes of the fuel in 2012 to satisfy demand from Asian buyers particularly India and China.
A related Bloomberg report said the country is estimated to mine 360 million tons this year. Indonesia is still the world largest thermal coal exporter.
Mr Tran Xuan Hoa Vietnam state owned coal exporter Vinacomin chairman said in an annual coal exports report this month that Vietnam, on the other hand, decided to cut down its coal exports and be a net importer to support the growing local industries.
State run Vietnam News Agency reported quoting Vinacomin said coal exports will be slashed by 19.6% to 13.3 million tonnes in 2012 from 16.8 million MT this year.
Vinacomin said Vietnam coal exports will gradually be slashed to 8 million MT in 2013 and between 4 million tonnes and 5 million tonnes from 2015.
(Sourced from community.nasdaq.com)
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