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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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Tuesday, 03 December 13
PORT OF NEWCASTLE IN QUEENSLAND SHIPPED 1.22 MMT MORE COAL W-W
COALspot.com: In the week ended December 2, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.49 ...
Tuesday, 03 December 13
U.S PRODUCED 900.80 MMST YEAR-TO-DATE
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.7 million short tons (mmst) of coal in ...
Monday, 02 December 13
SUB-BIT INDONESIA COAL SWAP DIFFERENCE BETWEEN Q1 AND Q3 DELIVERIES ARE VERY MARGINAL
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.67 pmt month on month on Friday 29 Novemb ...
Sunday, 01 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR Q2 AND Q3 DELIVERY SHOWS A DECLINE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.63 percept d-d on Friday 29 November 2013. The CFR South ...
Sunday, 01 December 13
PANAMAX RATES HAVE REBOUNDED - CAPT. REDDY
COALspot.com: The freight market was quite firm last week with all the indices increased. Cape Index was gained highest this week which supports inc ...
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- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
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