We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
.jpg) If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, “Brexit means Brexit”, “no-deal Brexit” — day after day, terms related to the UK’s imminent departure from the EU are bandied repeatedly in British media and culture. And there’s so much uncertainty about what the UK’s EU divorce settlement will look like, it’s enough to make even the strongest Leave advocates grow weary.
Nevertheless, the date of the UK’s exit from the EU is fast approaching and failing a dramatic u-turn, as of 23:00 GMT on Friday March 29, 2019, the country will no longer be a member of the multinational trading bloc. With 95% of the UK’s international trade carried through its ports, shipping is an industry that will undeniably be impacted by the ramifications of Brexit. For companies, the uncertainty of how the UK’s trading relations with the EU will appear after the deadline is difficult to contend with.
The UK Government has sought to inform the public as to the implications for the trade in goods between the UK and EU nations of a no-deal Brexit — whereby the UK would leave the EU without agreement. Near the end of August, the UK Government published guidance entitled Trading with the EU if there’s no Brexit deal. The document explains what would happen to customs and excise procedures in the event of a no-deal scenario on March 29, as well as what businesses trading with the EU will need to know.
No-deal customs
According to the guidance, if the UK left the EU on March 29 without an agreement, the free movement of goods between the UK and EU would stop. The document continues by giving three examples of how businesses trading with the EU would be affected. Firstly, companies would have to apply the same customs rules to goods moving between the UK and the EU as those currently applicable to goods moving between the UK and non-EU countries (with customs duty potentially also due on EU imports). Customs declarations would therefore have to be made when products enter or leave the UK. Additionally, separate safety and security declarations would have to be made by the items’ carrier (normally the haulier, airline or shipping line, depending on the transport mode used to import or export them).
Secondly, the EU would put customs and excise rules on goods it gets from the UK in the same way it does for products it gets from outside the EU. This means the EU would require customs declarations on goods coming from or going to the UK, plus safety and security declarations. The third and final example is that for excise goods movements, the Excise Movement Control System (EMCS) would no longer be used to control suspended EU–UK movements. However, EMCS would still control the movement of duty suspended excise goods within the UK (including movements to and from UK ports and airports and the Channel Tunnel). Therefore, immediately upon UK importation, companies moving excise goods within the EU (including in duty suspension) would have to put them into UK excise duty suspension or pay duty.
Import/export info
For companies importing EU goods, a no-deal Brexit would mean following customs procedures the same way they currently do when importing non-EU goods. Thus, for EU goods going into the UK, import declarations would be needed, customs checks might occur and any customs duties would need payment. Before importing EU products, a firm would have to register for a UK Economic Operator Registration and Identification (EORI) number, ensure their contracts and International Terms and Conditions of Service reflect that they are an importer, consider how they would submit import declarations (including whether to use a customs broker, freight forwarder or logistics provider) and decide upon their items’ correct classification and value (and enter this on the customs declaration).
When actually importing EU items, a company would need a valid EORI number and would have to ensure their carrier has submitted an Entry Summary Declaration at the right time, submit an import declaration to HMRC using their software (or get their customs broker, freight forwarder or logistics provider to do so) and pay Value Added Tax (VAT) and import duties, including excise duty on excise goods unless the goods go into duty suspension (import VAT may also be due). When excise goods leave a customs suspensive arrangement, they might immediately gointo an excise duty suspension regime, and a business would have to declare them on EMCS for onward movement via a Registered Consignor. Companies might also have to apply for an import licence or give supporting documentation to import specific kinds of goods into the UK, or comply with the relevant customs import procedure’s conditions.
The UK Government’s stance is that both itself and the EU are seeking a positive deal, and in September, UK Prime Minister Theresa May said she believed that European Council president Donald Tusk had “clarified … there is hope and expectation for a deal on the side of the European Union”. However, she later noted that she had “always said no deal is better than a bad deal”, adding: “I think a bad deal will be a deal, for example, that broke up the United Kingdom.”
For businesses exporting goods to the EU, a no-deal Brexit would mean them following customs procedures like they do currently when exporting goods to a non-EU nation. Similar to the above, before exporting to this destination, they would need to register for an UK EORI number, ensure their contracts and INCOTERMS reflect that they are an exporter and consider how they would submit export declarations (again, including whether to use a customs broker, freight forwarder or logistics provider). When they do export, companies would need to possess a valid EORI number and submit an export declaration to HMRC (or get their customs broker, freight forwarder or logistics provider to do so — additionally, the export declaration may need to be lodged in advance so export permission is given before the goods leave the UK). Firms might also need to apply for an export licence or provide supporting documentation to export specific kinds of goods from the UK, or meet the terms of the relevant customs export procedure. When exporting duty suspended excise goods to the EU, a business would have to keep using EMCS to record the duty suspended movement from a UK warehouse or premises to the port of export.
For carriers, a no-deal scenario would mean them having to make a Safety and Security Declaration for goods moving between the UK and EU. This declaration comes in two forms: an Exit Summary Declaration (EXS) and an Entry Summary Declaration (ENS). A carrier generally needs to send an EXS to the customs authority of the country from which the consignment is being exported. For consignments exported from the UK, this declaration generally forms part of the Export Declaration. Additionally, a carrier must send an ENS to the customs authority of the nation the consignment is entering.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
Its been an interesting week with a strong demand for ships out of Brazil, making C3 rates remain around USD 19 pmt said Fearnlys in i ...
Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
Japan’s Tohoku Electric Power Co Inc and Glencore Plc have abandoned talks on annual thermal coal supplies after failing to reach an agreemen ...
Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
Tuesday, 26 June 18
"ALWAYS ACCESSIBLE": ARRIVAL, DEPARTURE OR BOTH? - INCE & CO
KNOWLEDGE TO ELEVATE
An “always accessible” berth warranty is often used by an owner to transfer the risk of delays in berthing to ...
|
|
|
Showing 1686 to 1690 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Minerals Council of Australia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
|
| |
| |
|
