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.
|
|
Thursday, 05 November 15
INFORMATION EXCHANGE GROUP'S LATAM MINING SECURITY SUMMIT 2016 - INTERNATIONAL CONFERENCE ON TECHNOLOGY SECURITY IN MINING
Press Release: LATAM Mining Security Summit 2016 is a carefully designed event that will bring together the leading stakeholders in the mining sect ...
Wednesday, 04 November 15
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
Four companies dominate global iron ore production, namely; BHP Billiton, Vale, Rio Tinto, and Fortescue Metals Group. Together these companies con ...
Wednesday, 04 November 15
FOB RICHARDS BAY COAL SWAPS GAIN W-W AND M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and month over month.
The Q4 swap was up US$ 1.4 ...
Tuesday, 03 November 15
THE DISCHARGE OF CARGO IN THE PRC WITHOUT ORIGINAL BILLS OF LADING - CLYDE&CO
KNOWLEDGE TO ELEVATE
On occasions, a vessel may arrive at a port and be ready to discharge but the original bills of lading in respect of the ...
Tuesday, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
|
|
|
Showing 2731 to 2735 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
|
| |
| |
|
