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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, 01 January 14
DRY BULK CARRIER OWNERS ANTICIPATING AN EVEN STRONGER 2014 YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
To begin with, The Hellenic Shipping News Worldwide team would like to wish you all a Happy and Prosperous 2014! We begin the New Year with our firs ...
Tuesday, 31 December 13
INDONESIA'S COAL PRODUCTION COULD HIT 450 MMT IN 2014 - ICMA
COALspot.com: Indonesia, the fourth largest coal producer and largest coal exporter in the world, to increase coal output in year 2014 instead of th ...
Tuesday, 31 December 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Tuesday, 31 December 13
MORE THAN $21 BILLION INVESTED IN SECOND HAND SHIP PURCHASES IN 2013
One thing that was apparent in the sale and purchasing markets during 2013 was the ship owners' larger appetite for vessel acquisitions, as most so ...
Monday, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
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- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
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