SMPC: Record high 15.8 million MT of coal shipped in 2023

Consunji-led Semirara Mining and Power Corp. (SMPC) said Friday it hit a record high in terms of coal shipments last year.

In a disclosure to the Philippine Stock Exchange, SMPC said it shipped 15.8 million metric tons (MT) of coal in 2023, up 6% year-on-year.

SMPC said the growth was largely due to a 13% rise in coal exports, which surged from 7.1 million MT to 8.1 million MT. 

Domestic coal shipments, meanwhile, were flat at 7.7 million MT.

“Our sales performance aligns with our 2023 target of 15 to 16 million metric tons. It also reflects our team's relentless effort and commitment to deliver stable fuel supply amidst the challenging dynamics of the global market,” said SMPC president and COO Maria Cristina Gotianun.

In 2023, SMPC said the majority of its coal exports went to China at 65%, followed by South Korea at 27%, and Brunei at 4%.

Total shipments to Japan, India, and Vietnam made up the remainder.

The company said its shipments to China grew 31% to 5.2 million MT from 4 million MT in 2022 amid “heavy stockpiling, consumption recovery, and lower hydropower generation.”

Demand from South Korea was steady at 2.2 million MT, while shipments to Brunei stood at 306,800 MT, up from 102,967 MT.

For 2024, Gotianun said, “Our goal is to ship at least 15 million metric tons of Semirara coal, focusing on the domestic market.”

“This aligns with our commitment to national energy security,” she said. — VBL, GMA Integrated News