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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- VISA Power Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
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