According to a Chinese reporter from Reuters, Shenhua said on its website that the sales volume for last year reached 311.2Mt, revealing the company must have had considerable stockpiles given this amount is higher than its production.
Despite winter conditions, coal sales in China have been down in recent months with the economic downturn to blame.
Power generation in China reportedly fell 6% in December, marking the third monthly decline in a row.
Late last year China issued 26Mt of export quotas for 2009 of an estimated 52Mt annual total, with the two top exporters – Shenhua Group and China National Coal Group – each receiving 10.7Mt.
For 2008, China issued its first batch of coal export quotas in March.
In mid-December, ANZ analysts indicated there could be negative impacts for Australian thermal coal producers if China swings excess thermal coal supply into the export market, if China’s power generation slump continued.
