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Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
 COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law passed five years ago in 2009, which mandates that mineral ores for export must be processed in-country from 12 January 2014.
It appears, however, that not all minerals are treated equally: it is reported that the law allows for different minimum processing requirements for different minerals before they can be exported.
Bauxite, nickel, tin, chromium, gold and silver are required to be fully processed or refined before export. Mineral ores that can be exported semi-processed or with only purification include copper, iron, lead and zinc.
The new law also seeks to regulate the export of minerals through a progressive tax. Higher export taxes will be imposed on minerals having lower levels of purification or processing, in order to encourage processing to be carried out in Indonesia rather than overseas.
It has also been reported that some 60-odd companies in Indonesia will still be allowed to continue to export unprocessed mineral ores.
However, until more details emerge or the regulation implementing the ban is publicly available, the exact parameters (for instance, the minimum level of purity required of each mineral before it can be exported) and impact of the ban, is uncertain.
Enforcement of the ban is another issue, considering the fact that it has been reported that Indonesia does not currently have the ability to process the mineral ores to the requisite purity levels for export. In context with the impact of the ban on Indonesia’s economy, this may mean that the ban is not ultimately as widely enforced as currently anticipated.
What this means for traders
This ban is likely to have an impact on trade contracts. In particular, traders will have to consider whether the Indonesian government’s new export restrictions fall within the provisions of their contracts dealing with force majeure situations. The extent to which traders will decide to utilise force majeure or other similar provisions like material adverse change clauses in their contracts would also depend on the prevailing market level: if traders are making a loss, they might be more likely to invoke such provisions to cancel their contracts or to excuse or suspend performance of their obligations under the contract.
Traders could also face shipment delays on liftings in Indonesia due to uncertainty in the level of processing required for mineral exports.
On the same note, traders (and charterers) may also face more claims from shipowners for demurrage and other costs as a result of vessels being delayed in departing from Indonesian ports. The potential of this increased risk was starkly illustrated by recent reports that a number of Chinese bulkers which had completed loading were detained at Indonesian ports in the lead up to the ban. We understand that these ships have since been allowed to depart. (Originally published on 22 January 2014)
By: John Simpson (Mr) & Maureen Poh (Ms)
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About Mr John Simpson:
John specialises in the handling of litigation, arbitration and alternative dispute resolution for his clients. John has experience of English litigation and of arbitration in London and Singapore, almost always relating to cross border disputes.
John is experienced in litigation in London and in arbitration under the rules of various arbitration bodies, including the SIAC, the ICC and the LCIA. John joined Ince & Co London in 1999, moving to Ince & Co Singapore in 2007. John has been a partner of Ince & Co since 2010.
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About Ms Maureen Poh
Maureen joined Ince & Co Singapore in 2013, having previously worked in Ince & Co's Shanghai office since 2011 . Her main areas of practice are dry shipping, and international trade and commodities.
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About Ince & Co
Ince & Co an international commercial law firm with offices in Beijing, Dubai, Hamburg, Hong Kong, Le Havre, London, Monaco, Paris, Piraeus, Shanghai and Singapore.
Ince & Co clients are range from major international corporations to smaller companies, sole traders and private individuals. Ince & Co practises English, French, German, Greek, Hong Kong and PRC law. http://www.incelaw.com
Views and opinions / conclusion expressed herein are personal views of the authors and not that of COALspot.com.
If you believe an article violates your rights or the rights of others, please contact us.
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
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