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, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
Monday, 20 April 15
Q4' 2015 API 8 CFR SOUTH CHINA COAL SWAP CLOSED US$ 50.28 PMT
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.03 (-7.28%) per MT month over month and US$ 0.05 (-0 ...
|
|
|
Showing 3061 to 3065 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- The University of Queensland
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- ICICI Bank Limited - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
|
| |
| |
|
