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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.
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Tuesday, 30 July 13
AUSTRALIA'S NEWCASTLE SHIPPED 12.58 PERCENT LESS COAL W-O-W
COALspot.com: Newcastle port in Australia has loaded 2,945,848 tons of coal for the week ended 0700 hours 29 July 2013, Newcastle Port Corp. s ...
Monday, 29 July 13
INDONESIA'S ENERGY NEEDS COULD SPELL GOOD NEWS FOR TANKER OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite abundant energy resources, Indonesia has still failed meet its own demand, which led to a rising import of crude. According to the latest we ...
Sunday, 28 July 13
SUB-BIT INDONESIA COAL SWAP UP SLIGHTLY FOR SEPTEMBER CARGOES
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average September 2013 delivery slightly up on day and week but fell on month on ...
Saturday, 27 July 13
CEPL INDIA TO BAG 0.3 MILLION TONS OF COAL SUPPLY ORDER FROM TNPL
COALspot.com - An India based coal trader Coastal Energy Private Limited has offered the lowest price of US$ 73.00 per metric ton for calorific valu ...
Saturday, 27 July 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN STEADY - CAPT.REDDY
COALspot.com : The freight market seemed to soften this week with BDI , Cape and Panamax indices dropped average 5 percent on week.
The BDI was d ...
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- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Australian Coal Association
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- The University of Queensland
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
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