Indonesia announced last week that it would allow 37 vessels loaded with coal to depart. Indonesia’s Coordinating Minister of Maritime and Investment Affairs Luhut Pandjaitan said “The ban implemented on January 1 had been eased for miners that have met a requirement to sell a portion of their output for local power generation, after the state utility procured enough coal to ensure 15 days of operation. I request that this is supervised closely so this also becomes a moment for us to improve domestic governance.”18 of the vessels, carrying around 1.3 million tons of coal, secured energy ministry verification, which is needed for a departure permit. These 18 vessels, the document said, were carrying coal from companies that had fulfilled their Domestic Market Obligation, under which miners are required to sell 25% of output to local buyers with a price cap at USD 70 per tonne for power plants. Among the companies were units of Adaro Energy, Indika Energy, and Golden Energy MinesIndonesia set the export ban after state power company Perusahaan Listrik Negara reported critically low coal stocks at power plants and said Indonesia was on the brink of widespread power outages. The ban sent shockwaves through global energy markets.
Indonesia announced last week that it would allow 37 vessels loaded with coal to depart. Indonesia’s Coordinating Minister of Maritime and Investment Affairs Luhut Pandjaitan said “The ban implemented on January 1 had been eased for miners that have met a requirement to sell a portion of their output for local power generation, after the state utility procured enough coal to ensure 15 days of operation. I request that this is supervised closely so this also becomes a moment for us to improve domestic governance.”18 of the vessels, carrying around 1.3 million tons of coal, secured energy ministry verification, which is needed for a departure permit. These 18 vessels, the document said, were carrying coal from companies that had fulfilled their Domestic Market Obligation, under which miners are required to sell 25% of output to local buyers with a price cap at USD 70 per tonne for power plants. Among the companies were units of Adaro Energy, Indika Energy, and Golden Energy MinesIndonesia set the export ban after state power company Perusahaan Listrik Negara reported critically low coal stocks at power plants and said Indonesia was on the brink of widespread power outages. The ban sent shockwaves through global energy markets.
