PT Batulicin Nusantara Maritim – The impact of the war between Russia and Ukraine, coal prices skyrocketed quite high, which during weekend trading, coal prices on the Indonesian Coal Index Futures (ICI 4) market closed at US$ 108.15/troy ona , skyrocketed +13.31% per day yesterday (14/3/2022).

Director of PT. Batulicin Nusantata Maritim (BNM), Yuliana, said that coal prices have continued to rise and fall, but now they are rising again due to the recent dispute between the United States and Russia which has become heated and quite influential on coal prices.

This is because Russia is one of the largest coal producers. Based on Worldometer data, Russia is the 6th largest coal producer in the world.

"Coal prices will continue to rise if coal supply from Russia experiences problems in the distribution of coal, of course it will affect prices which continue to rise, because of this conflict," said Yuliana on Monday (14/03/2022).

Yuliana added, PT. Batulicin Nusantata Maritim, which is also a subsidiary of the Six Nine Group, of course, so far it has not had much of an impact on fluctuating coal prices, because we operate according to existing contracts and our service is always the best to serve our customers in transporting coal abroad. .

Indeed, on the export side, Russia ranks third in the world after Indonesia and Australia. In 2019, Russian exports totaled 217 million tons. Russia's position in the world coal market is also quite strategic because it is a supplier to a number of major countries in Asia. Coal supplies from Russia could be hampered if the conflict between the countries ends in war. This makes coal prices continue to rise this week.

"Indeed, the price of coal often changes, according to geopolitics or other factors, but BNM believes that all the company's actions so far have been well managed and will never stop to provide the best service for our customers, with the various innovations we have made to date. ,” concluded Yuliana.