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.
|
|
Thursday, 31 January 13
DRY BULK RATES ON A FALLING PATTERN DUE TO ADVERSE WEATHER CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The seasonal factor has emerged as the latest catalyst in determining the course of the dry bulk market, as the floods in eastern Australia, the big ...
Thursday, 31 January 13
NEWCASTLE PORT SHIPPED 2.70 MMT OF COAL W/E 28 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,703,921 MT of thermal and coking coal for week ended 0700 hours 28 January 2013, Newca ...
Thursday, 31 January 13
MMTC TO IMPORT 2.68 MMT OF COAL FOR ARAVALI POWER CORPORATION LTD
COALspot.com: The tender floated by MMTC on behalf of Aravali Power Corporation Ltd, a Joint venture between NTPC and State of Haryana for supply of ...
Wednesday, 30 January 13
TNPL TO SECURE 300K MT OF IMPORTED COAL SUPPLIES AT US$ 75.95 PMT FOR MARCH - AUGUST 2013 DELIVERY
COALspot.com – Chennai based Coastal Energy Private Limited (C&O Group of companies) offered lowest price of US$ 75.95 per met ...
Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
|
|
|
Showing 4401 to 4405 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
|
| |
| |
|
