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, 17 June 15
PANAMAX RATE AVERAGED $22.82 PMT IN THE FIRST 10 DAYS OF JUNE FOR THE GRAIN ROUTE FROM SANTOS, BRAZIL, TO QINGDAO, CHINA - INTERMODAL
This year, Brazil will be exporting a record 96 million tons of soybean crop and starting in August the country will begin shipping a second corn c ...
Tuesday, 16 June 15
MERS: POTENTIAL CHARTERPARTY IMPLICATIONS - CLYDE & CO
KNOWLEDGE TO ELEVATE
South Korea's current outbreak of Middle East Respiratory Syndrome (MERS) has been the focus of much international at ...
Tuesday, 16 June 15
Q3 FOB INDONESIA COAL SWAP PRICE DOWN 50 CENTS OVER PAST WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month but declined week over week, this past week.
The Q3 swap was clim ...
Tuesday, 16 June 15
FOB RICHARDS BAY COAL SWAPS: PRICES MOVED UP ON THE WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and week over week.
The Q3 swap was up US$ 1.70 ...
Monday, 15 June 15
API 5 FOB NEWCASTLE COAL SWAP: Q1'16 DELIVERY CLOSED 1.14% LOWER THAN Q4'15 DELIVERY PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 1.10 per MT (2.47%) month over month to US$ 45.67 per mt. The swap ...
|
|
|
Showing 2971 to 2975 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
|
| |
| |
|
