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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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Sunday, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
Wednesday, 01 January 14
COAL & OIL TO SET UP ANOTHER 1,600 MW POWER PLANT IN INDIA - VENKATARAMANI
COALspot.com: Dubai-based Coal & Oil (C&O) Group is planning to make additional investment of around US$ 1.61 billion to set up 1,600 mega w ...
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Showing 3926 to 3930 news of total 6871 |
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- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
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