Indonesia Back-Pedals on Regulation 82/2017

After postponing implementation of the stipulation under Regulation 82/2017 that only Indonesian-controlled vessels could be used for the export of coal and crude palm oil, or for the import of rice and government procurement products, from 1 May 2018 to 2020 (our posts of 15/02/18 and 09/04/18), the Indonesian government has now decided to abandon it completely.

Implementation of the measure by which only an Indonesian insurer could be used to cover all shipments has been further delayed from 1 August 2018 to February 2020.  This obligation continues to raise concerns both in Indonesia and among international traders as most sales are made FOB, and also because the country’s insurance capacity may not yet be adequate.  There is speculation that local insurance cooperatives or Chinese insurers based in Indonesia may benefit.

Information provided by Budd Indonesia

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