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, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
|
|
|
Showing 3831 to 3835 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Planning Commission, India
- Australian Coal Association
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
|
| |
| |
|
