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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, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (appro ...
Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down befor ...
Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
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- The University of Queensland
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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