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, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
|
|
|
Showing 2261 to 2265 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
|
| |
| |
|
