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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, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
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Showing 3876 to 3880 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- White Energy Company Limited
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
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