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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, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
Sunday, 24 November 13
SUPRAMAX FREIGHT RATES REMAINED FIRM FROM INDONESIA TO INDIA AND CHINA - SOLYM
COALspot.com: The freight market was fairly steady except for the Supramax in SE Asia region which continued to remain firm. The BDI was down by 1.5 ...
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- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Australian Coal Association
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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