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.
|
|
Wednesday, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
Monday, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
|
|
|
Showing 2531 to 2535 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- The University of Queensland
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
|
| |
| |
|
