INDONESIA Law and Practice Contributed by: Stephen Igor Warokka and Mutiara Kasih Ramadhani, SSEK Law Firm
in shipping to thereby qualify as a foreign ship - ping company. The Third Amendment to the Shipping Law also imposes a substantial increase in the vessel ownership requirement by a Shipping JV, which raises the minimum measurement for each ves - sel operated by a JV to 50,000 GT, a tenfold jump from the previous 5,000 GT threshold. This minimum measurement requirement is also applied to vessel-owning joint venture compa - nies engaging in the manufacturing and/or min - ing sectors.
While the Third Amendment to the Shipping Law provides that existing Shipping JVs (and the joint venture companies engaging in the manufactur - ing and/or mining sectors, as applicable) benefit from a conditional exemption under a grandfa - thering clause therein, this privilege is forfeited if they amend their corporate deeds, modify shareholding structures or acquire additional vessels.
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