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.
|
|
Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
|
|
|
Showing 3661 to 3665 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- London Commodity Brokers - England
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
|
| |
| |
|
