World News
Over 20 Chinese Bulkers Detained at Indonesian Ports
Over 20 Chinese bulk carriers have been detained at a number of Indonesian ports, but authorities have yet to give an explanation of exactly why, Sinoship News reports.
An official from a China Shipping subsidiary told the news service that the detention of the vessels, which have already loaded their cargo, could be due to a policy released in December by Indonesian authorities that forbids the export of raw ore from January 12, 2014.
A senior government official said Thursday that the export ban was going ahead, Platts reported.
The ban means nickel ore and bauxite can only be exported after it has been refined to nickel pig iron, nickel matte, ferronickel, and alumina.
However the director general of coal and minerals at Indonesia's mining ministry told Reuters Thursday it sought to ease the export ban before Sunday's deadline, and has proposed that miners will be given flexibility to export concentrate or processed minerals until 2017.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 553.50 | 0.00 | 673.00 | 0.00 |
| Rotterdam | 514.50 | 0.00 | 651.00 | 0.00 |
| Houston | 545.00 | 0.00 | 671.00 | 0.00 |
| Fujairah | 543.00 | 0.00 | 747.00 | 0.00 |
| Global 20 Ports Average | 574.00 | 0.00 | 748.00 | 0.00 |
| Global 4 Ports Average | 539.00 | 0.00 | 685.50 | 0.00 |
| Global Average Bunker Price | 627.00 | 0.50 | 799.50 | 1.00 |
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