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, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
|
|
|
Showing 3971 to 3975 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Planning Commission, India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- The University of Queensland
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
|
| |
| |
|
