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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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Wednesday, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
Monday, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
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- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Economic Council, Georgia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
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