Coal output on the rise
Higher coal output in Indonesia - According to Indonesia's government forecasts, the country's coal output is likely to increase by 19% in
2011 as drier weather enables miners to ramp up production amid growing regional demand. The government is confident that this growth can be sustained in the next five years due to expansion by the country's top 10 miners that make up about two-thirds of local production.
Indonesia is currently the world's top thermal coal exporter and is expected to produce 327m tonnes next year, versus projected 2010 output of 275m tonnes. Industry watchers forecast that its coal production growth in 2009-15 will be around 11% pa, mostly from the major producers as well as newcomers.
Coupled with rising coal prices, we see Straits Asia Resources, Noble Group and, possibly, Falcon Energy Group, which is setting up a new resource division by acquiring coal mines in Indonesia, as direct beneficiaries. Moreover, we reckon the higher coal usage will lead to strong demand for the shipment of this commodity, thus benefiting players such as Marco Polo Marine and ASL Marine.
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