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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, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
Monday, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
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- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Aditya Birla Group - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
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