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.
|
|
Monday, 12 August 13
GBCE SUCCESSFUL IN UPGRADING LOW RANK INDONESIAN COAL ON INDUSTRIAL SCALE
COALspot.com : GB Clean Energy Ltd. (GBCE) has annoused that, the company has successfully upgraded 2,426 tonnes of low rank 4,018 kcal NAR Ind ...
Monday, 12 August 13
INDIA - SAFE SHIPMENT OF IRON ORE FINES FROM INDIAN PORTS - WEST OF ENGLAND P&I CLUB
As Members may be aware, in 2009 two ships, the ‘Asian Forest’ and the ‘Black Rose’, capsized and sank following the liquefa ...
Sunday, 11 August 13
INDONESIAN COAL SWAPS : FLAT ON DAY
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery flat on day due to holidays in Indonesia, Malaysia & ...
Sunday, 11 August 13
SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA CONTINUED TO BE SOFT - VISTAAR
COALspot.com : The freight market was soft this week with all indices down , the reason could be long weekend holidays in Indonesia, Singapore and M ...
Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
|
|
|
Showing 4166 to 4170 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
|
| |
| |
|
