Supramaxes buoyed by court decision

Jakarta: Following the 5 November Indonesian Supreme Court decision to overturn a ban on raw mineral ore export, Macquarie’s Indonesia coal analyst, Riaz Hyder, reckons there will be an increase in nickel and bauxite exports. Based on data from Bank Indonesia, mineral exports have decreased significantly since the ban took effect in on May 2012. Nickel and bauxite exports have fallen 73% (to 4.1m tonnes) and 90% (to 1.3m tonnes), respectively. According to Clarksons Research, bauxite and nickel ore account for 4.5% of total dry bulk volume and should support supramax and handysize vessels demand.   [15/11/12]

Related Posts