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.
|
|
Friday, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk ma ...
Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...
Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization ...
Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...
Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
|
|
|
Showing 4381 to 4385 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Planning Commission, India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
|
| |
| |
|
