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, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and s ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has fell ...
Monday, 26 January 15
API 8 CFR SOUTH CHINA COAL SWAP CONTINUE TO SLIDE M-O-M; ROSE W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.79 (-1.33%) per MT month over month and gained US$ 2.10&nb ...
|
|
|
Showing 3231 to 3235 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
|
| |
| |
|
