Post https://theedgemalaysia.com/node/819624

https://theedgemalaysia.com/node/819624 World’s top coal exporter strains to lift output as prices soar Indonesia, the world’s biggest coal exporter, is failing to tap into soaring prices for the fuel as countries look to offset reduced natural gas supplies from the Persian Gulf. At a conference in Bali, which is the highlight of the local industry’s calendar, traders are confronting some of the tightest supply conditions in years. Exports fell to a five-year low this month following the slashing of mining quotas by the government as well as low water levels at key barging rivers, DBX Commodities said in a note. That comes as coal consumption is set to hit a record this year as demand is bolstered by higher gas prices — due to the near-closure of the Strait of Hormuz — and a strong El Niño that’s increasing air-conditioning requirements, according to the International Energy Agency. Indonesian coal buyers, including China, South Korea and Japan, have already been observed switching from gas to coal in their power mix.