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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, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
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Showing 3901 to 3905 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Planning Commission, India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
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