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, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
Friday, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
|
|
|
Showing 2451 to 2455 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
|
| |
| |
|
