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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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Thursday, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
Thursday, 20 February 14
SUPRAMAX: IN ASIA IS IMPROVING SIGNIFICANTLY AND TURNED FROM APS TO DOP MARKET
Handy
The activity is back in the market after Chinese holidays. Supramax in Asia is improving significantly and turned from APS to DOP market. We ...
Wednesday, 19 February 14
NEWCASTLE PORT SHIPPED 30% MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 17 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 18 February 14
PERUVIAN HIGH COMMISSIONER FOR MINING AFFAIRS WILL BE KEY NOTE SPEAKER AT THE COLOMBIAN COAL CONFERENCE 2014
Press Release: The High Commissioner for Mining Affairs in the Presidency of the Peruvian Council of Ministers, General (R) Daniel Urresti Elera, ha ...
Monday, 17 February 14
US COAL PRODUCTION IN 2013 FELL TO ITS LOWEST LEVEL IN 20 YEARS
COALspot.com: U.S coal production for 2013 totaled an estimated 996 million short tons (MMst), 21 MMst (2%) lower than in 2012. It is the first time ...
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- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
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