In a noteworthy development, Indonesia has reportedly secured a significant share of the global coal export market, surpassing the 50% mark for the first time in the period spanning January to October 2023.
According to data from Kpler, as reported by Reuters on Friday (10/11/2023), Indonesia’s export of thermal coal exceeded a substantial 413 million metric tons, firmly establishing the country as a leading player in the global coal export landscape.
The year-on-year (YoY) comparison for the same period reveals a remarkable surge of 11.5% in Indonesia’s coal shipments. This growth rate is twice that of the overall global coal export growth, and it is anticipated to reach unprecedented levels in 2023, aligning with the ongoing global efforts to transition away from fossil fuels.
Taking a closer look at other major coal-exporting nations, Australia, the second-largest in the industry, recorded a market share of 19.4% YoY during the first ten months of 2023, representing a 20% decline from the figures in 2022.
Meanwhile, Russia, ranking as the third-largest coal exporter, held an 11% market share, marking a 12.3% decrease compared to the previous year.
South Africa and Colombia, the fourth and fifth-largest coal exporters, respectively, also experienced a reduction in market share compared to Indonesia’s performance in 2023. In contrast, the United States (US), positioned as the sixth-largest exporter, saw a marginal increase in its share of the global market.
Highlighting the broader context, the United Nations for Environment Program (UNEP) reported that among the top 20 fossil fuel-producing nations globally, none have committed to reducing the production of coal, oil, and gas. This remains the case despite many nations setting ambitious net-zero emission targets.