Indonesian coal sector suffers due to India’s dropping demand
Indonesian coal miners are struggling with slow demand this year as businesses in India, one of the country’s major coal markets, hit the brakes due to a prolonged lockdown to contain the COVID-19 pandemic, a data firm has said.
Operational activities are carried out at the Tutupan coal mine in Indonesia (Photo: www.thejakartapost.com)
Jakarta (VNA) – Indonesian coal miners arestruggling with slow demand this year as businesses in India, one of thecountry’s major coal markets, ✅hit the brakes due to a prolonged lockdown tocontain the COVID-19 pandemic, a data firm has said.
India’s coal imports, a commodity mostlyused for power generation, is projected to decrease by 19.1 percentyear-on-year to 149 million tonnes, according to IHS Markit. As a result, IHS Markit projects a 10 percent decline inIndonesian coal exports to 406 million tonnes in 2020, from last year’s figureof 451 million tonnes. IHS Markit coal, metals and mining senior director JamesStevenson said India’s lower import projection was a result of slumpingbusiness and industrial activity during the country’s prolonged lockdown. The consultancy now expects that India will reduce itsimports by about 35 million tonnes, he added. It initially projected Indonesian coal exports at 419million tonnes before India announced an extended lockdown and before marketconditions worsened in Southeast and East Asia, which are Indonesia’s othermajor coal export markets. India went into lockdown on March 24, when most businessesshut down. The country has extended the lockdown four times, which is expectedto last until May 31. Indonesia is the world’s largest coal producer and dry fuelcontributes 14 percent of the country’s exports, Statistics Indonesia (BPS)data shows./.
The Indonesian government is rolling out a 641.17 trillion rupiah (43 billion USD) economic recovery stimulus, bigger than previous allocations, to soften the impact of COVID-19 on micro, small and medium enterprises (MSMEs), as well as state-owned enterprises (SOEs).
PT Astra International, one of the leading automobile manufacturers in Indonesia, is looking to adopt new survival strategies, including cutting operational costs and increasing its digital presence, in the face of slumping vehicle demand worsened by the COVID-19 pandemic.
The Indonesian government has no plans to ease the enactment of the Large Scale Social Restriction (PSBB) policy in the immediate future, as the government is still focusing on the national mudik (homecoming) ban for the next two weeks to curb the spread of COVID-19, said President Joko Widodo.
Indonesia’s Ministry of Transportation has imposed penalties on local carrier Batik Air and the operators of the Soekarno-Hatta and PT Angkasa Pura II Airports for not maintaining a safe distance between passengers during the COVID-19 pandemic.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Operational activities are carried out at the Tutupan coal mine in Indonesia (Photo: www.thejakartapost.com) 
