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.
|
|
Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
|
|
|
Showing 2326 to 2330 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
|
| |
| |
|
