Coal producers worldwide might continue to cut their output amidst falling price of crude oil, which dropped to below US$27 per barrel Wednesday (Jan 20). Yancoal Australia Limited, subsidiary of Chinese company Yanzhou Coal Mining Co Ltd, produced only 4.4 million tons of coal in the fourth quarter ended Dec 31, 2015, dropped 14% from the corresponding period of 2014.

BHP Billiton and Rio Tinto declined by 3% and 1.4% respectively in Sydney this morning as investors are still not convinced about trajectory of metals and energy market. Production report from BHP and Rio Tinto suggested continued war between mining giants in iron ore market, making if difficult to recover.

Shares of plantation companies listed in Southeast Asia markets were mostly in red zone this morning on broad market sentiment against commodities, especially because WTI crude oil declined further to below US$28 per barrel. Unlike crude oil, however, crude palm oil (CPO) is still way above the lowest quoted price last August.

Coal stocks recovered slightly in the region this morning as stays below US$30 per barrel. China Shenhua and China Coal Energy gained in Hong Kong, while Whitehaven Coal fell 5% in Sydney. Rio Tinto and BHP Billiton regained grounds in Sydney, but with limited gains.

Indonesia booked oil and gas trade deficit of US$6.06 billion last year, dropped 55% from 2014 because of falling prices of crude oil and natural gas. Interestingly, however, that import volume of natural gas grew 16.35% to 4.18 million tons. Import volume of crude oil also jumped 27.22% to 18.73 million tons last year.

Agritrade Resources Limited, a company listed on the stock exchange of Hong Kong with coal operations in Indonesia, continues to strengthen its position in the oil transportation business with acquisition of very large crude carrier (VLCC) worth US$38.4 million.

Great news came from PT Bhimasena Power Indonesia (BPI), a joint venture between Adaro Energy (ADRO), J Power, and Itochu, about its plan to start physical construction of the long-delayed 2×1000 MW coal-fired power plant in Batang Regency, Central Java province. BPI claimed land acquisition for the project has been fully completed.

PT Freeport Indonesia, a company controlled by Freeport McMoRan, has offered 10.64% shares to Indonesian government for around US$1.7 billion pursuant to mandatory divestment under Government Regulation No. 77/2014. That much?