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, 07 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.96 PMT; DOWN 8.40% M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has declined U ...
Monday, 06 April 15
INDONESIA'S HBA FIXED AT US$ 64.48 PMT FOR APRIL DELIVERY; DOWN 4.84% M-M
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 64.48 per MT in Apr ...
Monday, 06 April 15
FOB NEWCASTLE COAL SWAP DECLINED 12% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 6.23 per MT (-12%) month over month and US$ 0.86 (-1.85%) week ...
Monday, 06 April 15
CFR SOUTH CHINA COAL SWAP FALL CONTINUES
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.96 (-10.37%) per MT month over month and US$ 0.98 (- ...
Sunday, 05 April 15
FREIGHT RATES UNDER PRESSURE WEEK OVER WEEK
COALspot.com: The Indices fell on all segments and the market seemed to soften this week.
The BDI was almost lost 1.34% week over week and clo ...
|
|
|
Showing 3086 to 3090 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- White Energy Company Limited
- Renaissance Capital - South Africa
- VISA Power Limited - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Australian Coal Association
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
|
| |
| |
|
