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, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
|
|
|
Showing 3296 to 3300 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
|
| |
| |
|
