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, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
|
|
|
Showing 1841 to 1845 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Minerals Council of Australia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
|
| |
| |
|
