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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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Wednesday, 19 June 13
NEWCASTLE SHIPPED 16.05 PERCENT LESS COAL W/E 17 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 2,606,071 tons of coal for the week ended 0700 hours 17 June 2013, Newcastle Port Corp. ...
Sunday, 16 June 13
WEAK DEMAND KEEPS COAL PRICES LOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 2.94 percent week on week but gained 0.06 percent ...
Saturday, 15 June 13
S7 AND S8 ROUTES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week freight movement was fairly firm with news of China is rebuilding iron ore stockpiles, and ease import rules. Cape and Pana ...
Saturday, 15 June 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO AND A HALF YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for two and a half years in the three months ended May 2013, accordin ...
Friday, 14 June 13
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.20 MILLION SHORT TONS W/E 8 JUNE 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.20 million short tons (mmst) of ...
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- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- White Energy Company Limited
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
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