PTBA to increase export to four countries

IDX-listed coal giant PT Bukit Asam Tbk (PTBA) aims to increase export to four countries this year to compensate for the expected decline in export to Taiwan and Hong Kong, Bisnis Indonesia reported on Monday.

The paper quoted PTBA Corporate Secretary Adib Ubaidillah as saying that the company plans to increase export to new markets of Cambodia, the Philippines, Sri Lanka and Bangladesh. ?For Cambodia and the Philippines, export has started since last year. For Sri Lanka, (volume) it is still small, we?ll try to penetrate the market,? he said, adding that Taiwan and Hong Kong have expressed intention to cut down coal import.

Export last year accounted for about 40 percent of PTBA?s coal sales volume. Its traditional export markets include China, India, Japan, Taiwan, and Malaysia.

This year, the company plans to increase coal sales volume by 30 percent to 27.3 million tons from 20.76 million tons last year amid rising trend in the price of the commodity. PTBA expects coal price this year to hover between US$81-$85 per ton. (*)