Following a meeting in Batam yesterday, the Indonesian navy has agreed to release 73 containers of tin out of a total of 134 which it impounded last week, Bloomberg reported. The clearance was announced by Megain Wijaja, CEO of the Indonesia Commodity and Derivatives Exchange, whose members owned the tin. ICDX will arrange shipment of the released containers on another vessel next week.
The Indonesian navy seized the shipment of 2,822 tonnes of tin from a vessel last week. It was stopped en route to Singapore from Bangka on 6 March and the cargo is being held at Batam port, First Admiral Harjo Susmoro, commander of the Western Fleet Maritime Security Task Force, told Bloomberg. “We suspect that the tin shipments were not in accordance with the trade ministry rule,” he said. The vessel was carrying 85 containers holding 1,670 tonnes of tin ingots and 49 containers holding 1,152 tonnes of solder and other tin products.