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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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Thursday, 06 February 14
PANAMAX: FAR EAST IS ALMOST ABSENT AND ATLANTIC ON SLOW STEAM
Handy
Due to ongoing Chinese New Year the market is still quiet. Slowly we can see some fresh coal cargos entering the market with second half Feb/ ...
Wednesday, 05 February 14
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market has lost further ground this past week as activity ex-Far East disappeared into the Chinese holidays and owners id ...
Wednesday, 05 February 14
MARKET INSIGHT - TASOS PAPADOPOULOS
KNOWLEDGE TO ELEVATE
COALspot.com: Let's take a break from market prospects, numbers, order book etc. and shed some light on the conclusions of ...
Tuesday, 04 February 14
NEWCASTLE PORT'S WEEKLY COAL EXPORTS HIT NEW HIGH OF 3.53 MMT
COALspot.com: In the week ended 3 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Monday, 03 February 14
SUB-BIT INDONESIA COAL SWAP GAINED WEEK ON WEEK
COALspot.com – Swaps prices gained for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
...
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Showing 3866 to 3870 news of total 6871 |
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- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Planning Commission, India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- White Energy Company Limited
- PTC India Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
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