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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, 08 November 13
DRY BULK MARKET BOUNCES BACK ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market staged a mild comeback this week, as the industry's benchmark, the Baltic Dry Index (BDI) inched forward step by step and bit b ...
Friday, 08 November 13
US'S OCTOBER COAL PRODUCTION INCREASED BY 1.78% M-M - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 07 November 13
FORMOSA PLASTICS SEEKS 80K MT OF 5850 GAR COAL
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for 80,000 mt of bituminous coal for delivery in Nov - Dec'13 for its Chi ...
Thursday, 07 November 13
INDONESIAN COAL EXPORT VOLUME INCREASED; REVENUE DECREASED
COALspot.com: Indonesia, the 15th largest economy, 4th largest coal producer in the world and world's largest multi grade coal exporter shipp ...
Thursday, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, accordi ...
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- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- The University of Queensland
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
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