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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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Monday, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
THE WORLD LARGEST COAL EXPORTER SHIPPED AROUND 35.90 MMT OF COAL IN DECEMBER 2013
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $2* billion worth ...
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- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
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