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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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Tuesday, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
Sunday, 24 November 13
SUPRAMAX FREIGHT RATES REMAINED FIRM FROM INDONESIA TO INDIA AND CHINA - SOLYM
COALspot.com: The freight market was fairly steady except for the Supramax in SE Asia region which continued to remain firm. The BDI was down by 1.5 ...
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- Carbofer General Trading SA - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
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