INTEGRATED energy company Semirara Mining and Power Corp. (SMPC) achieved a record-breaking coal sales volume of 15.8 million metric tons (MT) in 2023, marking a six percent increase from the previous year.
The growth was largely fueled by a 13 percent rise in export sales, which surged from 7.1 million MT to 8.1 million MT.
In contrast, domestic sales stayed flat at 7.7 million MT. SMPC president and chief operating officer Maria Cristina Gotianun said the sales performance aligned with the company’s 2023 target of 15 to 16 million MT.
In 2023, the majority of Semirara coal exports went to China (65 percent), followed by South Korea (27 percent) and Brunei (four percent). Shipments to Japan, India and Vietnam made up the remainder.
China shipments recovered by 31 percent from four million MT to 5.2 million MT on heavy stockpiling, consumption recovery and lower hydropower generation.
Demand from South Korea was steady year-on-year at 2.2 million MT while Brunei sales nearly tripled from 102,967 MT to 306,800 MT.
Looking ahead to 2024, Gotianun said their goal is to ship at least 15 million MT of Semirara coal, focusing on the domestic market to align its commitment to national energy security.