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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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Sunday, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
Wednesday, 01 January 14
COAL & OIL TO SET UP ANOTHER 1,600 MW POWER PLANT IN INDIA - VENKATARAMANI
COALspot.com: Dubai-based Coal & Oil (C&O) Group is planning to make additional investment of around US$ 1.61 billion to set up 1,600 mega w ...
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Showing 3926 to 3930 news of total 6871 |
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- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
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