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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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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
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