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.
|
|
Monday, 14 November 16
DUNIA MAKMUR SUBSIDIARY BAGS MINING SERVICE CONTRACT WORTH $ 282.63 MILLION
PT Bukit Makmur Mandiri Utama (BUMA), has signed a life of mine contract with PT Tadjahan Antang Mineral (TAM) with a contract value of approximate ...
Monday, 14 November 16
THE CAPE INDEX ROSE 44.57 PER CENTS TO 2303 POINT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 11 November 16
INDONESIAN 4200 GAR COAL IS THE MOST ATTRACTIVE COAL IN TODAY'S MARKET - OPINION POLL
“ Which coal type of Indonesian origin do you find the most attractive in today's market?”
The on-line opinion poll conducted ...
Friday, 11 November 16
WEEKLY U.S. COAL OUTPUT FELL SLIGHTLY W/E NOVEMBER 5
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.9 million short ton ...
Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
|
|
|
Showing 2216 to 2220 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Anglo American - United Kingdom
|
| |
| |
|
