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.
|
|
Sunday, 18 August 13
INDO - INDIA FREIGHT EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market was up this week with the BDI gaining more than 10 pct due to strong Cape Sector.
The BDI was closed at 1,102 p ...
Friday, 16 August 13
US COAL PRODUCTION SLIGHTLY UP ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.10 million short tons (mmst) of ...
Thursday, 15 August 13
CAPESIZE : TRENDS SOMETIMES SHIFT WITH NO PRIOR WARNING - FEARNRESEARCH
Handy
The influence of the summer holidays across Europe was felt in the Atlantic basin this week. Very little activity and a growing list of avail ...
Wednesday, 14 August 13
ANOTHER WEEK IN THE RED FOR DRY BULK CARRIERS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable- )
Another week in the red for Dry Bulk carriers with the market losing further steam as fewer an ...
Tuesday, 13 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMP 30.61 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 30.61 per cent week on week to 2.95 million mt for ...
|
|
|
Showing 4161 to 4165 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
|
| |
| |
|
