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Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN


COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least eleven people, according to the National Disaster Mitigation Agency.

The collapsed suspension bridge may affect the barging operations of several coal mines in that area. All boats, barges are temporarily banned from passing water around collapsed bridge of  Kertanegara Tenggarong in Kutai, East Kalimantan. As stated by the Director of Traffic Police of East Kalimantan Police Commissioner Nurhadi, Monday (28/11).

According to a shipping servicing company operating in East Kalimantan, around fifteen medium to big scale coal miners have affected, and their barging operation will be disturbed due to bridge collapsed.

PT Tanito Harum, PT Santan Batubara & PT Mahakam Sumber Jaya, PT Kayan Putra Utama Coal, PT Bina Insani Sukses Mandiri, PT Jembayan Muara Bara, PT Gerbang Daya Mandiri, PT Morris, PT Mitra Bagun Jaya Sejati, PT Trubaindo, PT Kimco Armindo, PT Multi Harapan Utama, PT Gemida, PT Bukit Menjangan Lestari, PT Insani Bara Perkasa, PT Borneo Putra Mandiri, PT Gunung Bayan, and some other small scale miners are among the few companies that affected barging operation.

According to market information, some of shippers that have affected by the bridge collapsed have declared Force Majeure  to their respective buyers. Menatime, some other miners are considering to issue anticipate force majeure notice to their respective buyers.

The total export tonnage affected by the bridge collapsed is not available immediately.

Coal exporters are believed that Indonesian coal prices could rise coming weeks as a result of a bridge collapse. But, we have not seen any immediate price correction until today.

As quoted by Bloomberg, Coal in Asia is unlikely to recover in 2012 from its first decline in three years as electricity-price controls prompt Chinese and Indian utilities to limit purchases of the fuel.
(updated version 13:38)



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