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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, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
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- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Minerals Council of Australia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
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