Some news about Indonesian coal business.
This is to inform you that due to some sudden changes in Indonesian Government Policies, export procedures have been changed with immediate effect. Exports being previously cleared on trade license now has to be processed under Miners Licenses along with export duties. Even the same is immediately functional for the shipments already loaded and therefore, no ship can sail or load further unless export duties and mine license documentation been done and therefore, all cargo already loaded has to be unloaded back to jetty.
All these have severely impacted the business in Indonesia, almost 20-25 shipments are now held at East Kalimantan and 10-15 at South Kalimantan. We regret to inform you this but as implies, many shipments are stuck in these changed policies with uncertain consequent hereafter. (As per letter from Ministry of Finance Republic Indonesian narrating same.)"This statement was issued on July 2nd, 2018. This will surely have a huge impact on Indonesian coal export, in fact, it impacted already. For example, only China imported a total of 226.1 million tons of coal during January-October 2017 period. Total annual production of coal is around 460 million tons in Indonesia.
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