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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Australian Coal Association
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
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