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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, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
Wednesday, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
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Showing 4011 to 4015 news of total 6871 |
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- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
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