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, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
|
|
|
Showing 4576 to 4580 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Siam City Cement - Thailand
|
| |
| |
|
