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Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
 COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at one time soared in the first-half of 2011 and hit US$120/barrel, however in Asian trading, U.S. crude futures fell to the day's low of $82.87 lowest since Nov. 26 on worries of a global economic slowdown and on concern that European debts crisis might escalate in the wake of Italy sharing the fates of Portugal, Ireland, Greece and Spain.
To learn farther more in the extent of decline in world oil prices to the coal industry, COALspot.com interviewed the Executive Director of Indonesian Coal Mining Association Suhala Supriatna.
COALspot.com: The oil price has now plunged to below US$85/barrel. Does this condition raise any particular alarm among the coal producers and how will it affect industries in terms of price as well as cost of production?
Suhala : In the coal mining activity, fuel is an input factor as coal excavation requires heavy equipment, such as backhogs, bulldozers, and trucks which need diesel oil. When the oil price plunges, so does the cost.
Probably, the plunging international price of coal in US Dollar may cause drop in the income of the coal producers. If Rupiah strengthens, their income in Rupiah becomes progressively smaller. In addition, it depends on their mining activity, whether underground or surface. Surface mining requires less cost.
But, does this plunging oil price affect others? I have no answer. This question should go to the analysts. This is more so the coal price is continuing to drop.
The cost also depends on the quality of coal produced. There are different grades of quality, such as high grade at the current rate of US$117/ton to the lowest US$35/ton. There are good impacts or bad impacts when the global oil prices drop. The good impact: this spurs the economic activity. Continuing drop in price hints economy is in the worse shape fundamentally.
COALspot.com: Will such an impact reduce coal demand?
Suhala: No, nothing to reduce. There is now even 2.5 billion world population having no access to electricity. In however condition of the economic recession, any country remains decidedly to build their power plants. No electricity infrastructure development is plagued by the economic condition.
In Indonesia, around 30% (out of 240 million people) have no access to electricity either. The government provides a guarantee to investors having interest in the construction of power plants. No other infrastructure project has received a guarantee than the electricity sector.
To contact the reporter to responsible on this interview / story: Efendi at efendi@coalspot.com
Translated by WB
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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Independent Power Producers Association of India
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- Metalloyd Limited - United Kingdom
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