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.
|
|
Friday, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (appro ...
Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down befor ...
Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
|
|
|
Showing 3936 to 3940 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Aditya Birla Group - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
|
| |
| |
|
