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, 24 June 13
INDONESIA COAL SWAP FOR AUGUST 2013 DELIVERY GAINS WEEK ON WEEK
COALspot.com – Coal prices for immediate supply contracts have started moving up, but prices for next year supply shows a negative trend ...
Sunday, 23 June 13
BDI CROSSED ITS PSYCHOLOGICAL BARRIER THIS WEEK - VISTAAR
COALspot.com : The BDI crossed the psychological barrier of 1000 points after many months and closed at 1,027 points, which were up by 14.11 pct wee ...
Sunday, 23 June 13
SHIP PRICES NOT FOLLOWING FREIGHT MARKET FUNDAMENTALS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although it's been the case in many occasions in the past, it appears that ship prices haven't been quite following freight market fundamentals, i ...
Friday, 21 June 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United states the world’s second largest coal producer produced totalled approximately 19.70 million short tons (mmst) of ...
Thursday, 20 June 13
CAPESIZE : FINALLY A SUBSTANTIAL IMPROVEMENT IN RATES! - FEARNLEYS A.S
Handy
Atlantic market kept a steady curve from last week. US Gulf positions fetched tick above USD 21k for Cont/Skaw direction, and vessels fixed f ...
|
|
|
Showing 4236 to 4240 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Planning Commission, India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
|
| |
| |
|
