COALspot.com keeps you connected across the coal world
  • AUGUST 2020 INDONESIAN COAL PRICE REFERENCE FOR EXPORTS AND DOMESTIC BUYERS INCLUDING POWER PRODUCERS FIXED AT US$ 50.34 A TON

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


WTI Crude Oil

BRENT Crude Oil

Search News
Latest CoalNews Headlines
Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
Baltic briefingIf 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.

Recent News

Wednesday, 12 August 20
U.S. COAL PRODUCTION IN 2020 WILL DECREASE BY 29% FROM 2019 LEVELS TO 502 MMST - EIA
U.S. coal consumption, which dropped to its lowest point since April, totaled 95 MMst in the second quarter of 2020.    EIA expec ...


Tuesday, 11 August 20
BHP COAL ASSETS WORTH A BILLION LESS THAN JUST TWO YEARS AGO - IEEFA
Another global investor, the UK’s biggest public pension fund NEST, has withdrawn funds from BHP this week because the company is profiting & ...


Monday, 10 August 20
COAL IMPORT DROPS 43% IN JULY OWING TO HIGH STOCKPILE AT PITHEADS, PLANTS - PTI
“The market participants seem to have adopted a wait and watch approach and are currently looking for a direction. We do not expect to see an ...


Saturday, 08 August 20
GLOBAL COAL POWER PUZZLE - BALTIC EXCHANGE
Global Energy Monitor’s latest Global Coal Plant Tracker has put another nail in the coffin for the coal-carrying fleet with its finding that ...


Friday, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry   Peabody Energy, the world’s largest priva ...


   1 2 3 4 5   
Showing 6 to 10 news of total 6038
News by Category
Popular News
 
Total Members : 27,028
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Glencore India Pvt. Ltd
  • IEA Clean Coal Centre - UK
  • Global Business Power Corporation, Philippines
  • Sojitz Corporation - Japan
  • OPG Power Generation Pvt Ltd - India
  • J M Baxi & Co - India
  • VISA Power Limited - India
  • Maharashtra Electricity Regulatory Commission - India
  • Merrill Lynch Commodities Europe
  • Central Electricity Authority - India
  • Coalindo Energy - Indonesia
  • Deloitte Consulting - India
  • Formosa Plastics Group - Taiwan
  • Bhatia International Limited - India
  • Eastern Coal Council - USA
  • Xstrata Coal
  • Neyveli Lignite Corporation Ltd, - India
  • SASOL - South Africa
  • Samtan Co., Ltd - South Korea
  • Madhucon Powers Ltd - India
  • Kideco Jaya Agung - Indonesia
  • GB Group - China
  • BNP Paribas - Singapore
  • Indonesian Coal Mining Association
  • Jaiprakash Power Ventures ltd
  • Ministry of Transport, Egypt
  • Tamil Nadu electricity Board
  • Lafarge - France
  • SGS (Thailand) Limited
  • Gresik Semen - Indonesia
  • Chamber of Mines of South Africa
  • Coal Orbis AG
  • GAC Shipping (India) Pvt Ltd
  • Indika Energy - Indonesia
  • Sakthi Sugars Limited - India
  • GMR Energy Limited - India
  • PNOC Exploration Corporation - Philippines
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Peabody Energy - USA
  • Oldendorff Carriers - Singapore
  • GNFC Limited - India
  • McConnell Dowell - Australia
  • Maheswari Brothers Coal Limited - India
  • Directorate Of Revenue Intelligence - India
  • Ceylon Electricity Board - Sri Lanka
  • Commonwealth Bank - Australia
  • South Luzon Thermal Energy Corporation
  • Globalindo Alam Lestari - Indonesia
  • Noble Europe Ltd - UK
  • New Zealand Coal & Carbon
  • Makarim & Taira - Indonesia
  • Arutmin Indonesia
  • SMG Consultants - Indonesia
  • Kalimantan Lumbung Energi - Indonesia
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • ANZ Bank - Australia
  • PLN Batubara - Indonesia
  • Surastha Cement
  • Maersk Broker
  • Indian School of Mines
  • Price Waterhouse Coopers - Russia
  • Rio Tinto Coal - Australia
  • Sarangani Energy Corporation, Philippines
  • Savvy Resources Ltd - HongKong
  • Jatenergy - Australia
  • Indonesia Power. PT
  • Kobexindo Tractors - Indoneisa
  • Bharathi Cement Corporation - India
  • Parliament of New Zealand
  • Sree Jayajothi Cements Limited - India
  • HSBC - Hong Kong
  • Sindya Power Generating Company Private Ltd
  • Coastal Gujarat Power Limited - India
  • Bukit Makmur.PT - Indonesia
  • OCBC - Singapore
  • International Coal Ventures Pvt Ltd - India
  • Posco Energy - South Korea
  • Salva Resources Pvt Ltd - India
  • Thomson Reuters GRC
  • Heidelberg Cement - Germany
  • Kepco SPC Power Corporation, Philippines
  • Aboitiz Power Corporation - Philippines
  • GN Power Mariveles Coal Plant, Philippines
  • Gujarat Sidhee Cement - India
  • SRK Consulting
  • Barclays Capital - USA
  • Global Green Power PLC Corporation, Philippines
  • Kartika Selabumi Mining - Indonesia
  • Bulk Trading Sa - Switzerland
  • Anglo American - United Kingdom
  • Indian Oil Corporation Limited
  • London Commodity Brokers - England
  • Rudhra Energy - India
  • Tata Chemicals Ltd - India
  • UOB Asia (HK) Ltd
  • Bukit Baiduri Energy - Indonesia
  • Cement Manufacturers Association - India
  • IMC Shipping - Singapore
  • Mitsui
  • Intertek Mineral Services - Indonesia
  • Kohat Cement Company Ltd. - Pakistan
  • KPMG - USA
  • Gupta Coal India Ltd
  • CCIC - Indonesia
  • Semirara Mining and Power Corporation, Philippines
  • Maybank - Singapore
  • Coal India Limited
  • Gujarat Electricity Regulatory Commission - India
  • Cigading International Bulk Terminal - Indonesia
  • Altura Mining Limited, Indonesia
  • The University of Queensland
  • Bahari Cakrawala Sebuku - Indonesia
  • Maruti Cements - India
  • Lanco Infratech Ltd - India
  • Grasim Industreis Ltd - India
  • EIA - United States
  • TeaM Sual Corporation - Philippines
  • Timah Investasi Mineral - Indoneisa
  • NTPC Limited - India
  • SN Aboitiz Power Inc, Philippines
  • Goldman Sachs - Singapore
  • Mitra SK Pvt Ltd - India
  • Antam Resourcindo - Indonesia
  • Sucofindo - Indonesia
  • Coeclerici Indonesia
  • KPCL - India
  • Medco Energi Mining Internasional
  • Shree Cement - India
  • Vale Mozambique
  • JPMorgan - India
  • Billiton Holdings Pty Ltd - Australia
  • Larsen & Toubro Limited - India
  • Directorate General of MIneral and Coal - Indonesia
  • Parry Sugars Refinery, India
  • Mitsubishi Corporation
  • Ambuja Cements Ltd - India
  • Wood Mackenzie - Singapore
  • TRAFIGURA, South Korea
  • Borneo Indobara - Indonesia
  • Leighton Contractors Pty Ltd - Australia
  • Krishnapatnam Port Company Ltd. - India
  • Interocean Group of Companies - India
  • Bank of America
  • Argus Media - Singapore
  • World Coal - UK
  • Karaikal Port Pvt Ltd - India
  • Malabar Cements Ltd - India
  • Straits Asia Resources Limited - Singapore
  • Minerals Council of Australia
  • Energy Link Ltd, New Zealand
  • Romanian Commodities Exchange
  • Tanito Harum - Indonesia
  • Humpuss - Indonesia
  • Petrosea - Indonesia
  • Essar Steel Hazira Ltd - India
  • Mechel - Russia
  • Carbofer General Trading SA - India
  • Indogreen Group - Indonesia
  • Cemex - Philippines
  • Xindia Steels Limited - India
  • Energy Development Corp, Philippines
  • Vizag Seaport Private Limited - India
  • Binh Thuan Hamico - Vietnam
  • Inspectorate - India
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • PowerSource Philippines DevCo
  • Bank of China, Malaysia
  • SUEK AG - Indonesia
  • U S Energy Resources
  • Adani Power Ltd - India
  • The State Trading Corporation of India Ltd
  • ICICI Bank Limited - India
  • Mintek Dendrill Indonesia
  • Standard Chartered Bank - UAE
  • Banpu Public Company Limited - Thailand
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Siam City Cement PLC, Thailand
  • Africa Commodities Group - South Africa
  • Iligan Light & Power Inc, Philippines
  • PetroVietnam Power Coal Import and Supply Company
  • Siam City Cement - Thailand
  • Ernst & Young Pvt. Ltd.
  • EMO - The Netherlands
  • MS Steel International - UAE
  • Petrochimia International Co. Ltd.- Taiwan
  • Mercator Lines Limited - India
  • GHCL Limited - India
  • IBC Asia (S) Pte Ltd
  • Cargill India Pvt Ltd
  • Thiess Contractors Indonesia
  • Thriveni
  • Shenhua Group - China
  • Agrawal Coal Company - India
  • Star Paper Mills Limited - India
  • ETA - Dubai
  • Pinang Coal Indonesia
  • UBS Singapore
  • San Jose City I Power Corp, Philippines
  • Qatrana Cement - Jordan
  • Chettinad Cement Corporation Ltd - India
  • The Treasury - Australian Government
  • The India Cements Ltd
  • Malco - India
  • Merrill Lynch Bank
  • TANGEDCO India
  • CNBM International Corporation - China
  • Simpson Spence & Young - Indonesia
  • Bhoruka Overseas - Indonesia
  • ING Bank NV - Singapore
  • Indorama - Singapore
  • Jorong Barutama Greston.PT - Indonesia
  • Orica Australia Pty. Ltd.
  • European Bulk Services B.V. - Netherlands
  • Thai Mozambique Logistica
  • CoalTek, United States
  • PLN - Indonesia
  • Indo Tambangraya Megah - Indonesia
  • Trasteel International SA, Italy
  • Metalloyd Limited - United Kingdom
  • Adaro Indonesia
  • Asmin Koalindo Tuhup - Indonesia
  • Cosco
  • Gujarat Mineral Development Corp Ltd - India
  • Sical Logistics Limited - India
  • Britmindo - Indonesia
  • Total Coal South Africa
  • Barasentosa Lestari - Indonesia
  • Arch Coal - USA
  • Ince & co LLP
  • Reliance Power - India
  • Moodys - Singapore
  • Georgia Ports Authority, United States
  • Uttam Galva Steels Limited - India
  • Central Java Power - Indonesia
  • Baramulti Group, Indonesia
  • Toyota Tsusho Corporation, Japan
  • Inco-Indonesia
  • Berau Coal - Indonesia
  • Jindal Steel & Power Ltd - India
  • Semirara Mining Corp, Philippines
  • Coaltrans Conferences
  • Core Mineral Indonesia
  • Enel Italy
  • Aditya Birla Group - India
  • Platts
  • Australian Commodity Traders Exchange
  • Karbindo Abesyapradhi - Indoneisa
  • Vitol - Bahrain
  • Geoservices-GeoAssay Lab
  • Port Waratah Coal Services - Australia
  • Therma Luzon, Inc, Philippines
  • Asia Cement - Taiwan
  • WorleyParsons
  • Meralco Power Generation, Philippines
  • Bukit Asam (Persero) Tbk - Indonesia
  • Attock Cement Pakistan Limited
  • Bayan Resources Tbk. - Indonesia
  • Tata Power - India
  • Marubeni Corporation - India
  • Platou - Singapore
  • CIMB Investment Bank - Malaysia
  • Kumho Petrochemical, South Korea
  • Japan Coal Energy Center
  • ASAPP Information Group - India
  • Mercuria Energy - Indonesia
  • KEPCO - South Korea
  • Russian Coal LLC
  • Kobe Steel Ltd - Japan
  • Samsung - South Korea
  • GVK Power & Infra Limited - India
  • MEC Coal - Indonesia
  • White Energy Company Limited
  • Infraline Energy - India
  • Clarksons - UK
  • Vedanta Resources Plc - India
  • Global Coal Blending Company Limited - Australia
  • Ministry of Finance - Indonesia
  • Latin American Coal - Colombia
  • Renaissance Capital - South Africa
  • Thailand Anthracite
  • IOL Indonesia
  • India Bulls Power Limited - India
  • Power Finance Corporation Ltd., India
  • BRS Brokers - Singapore
  • Panama Canal Authority
  • Edison Trading Spa - Italy
  • APGENCO India
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • DBS Bank - Singapore
  • Eastern Energy - Thailand
  • Permata Bank - Indonesia
  • Bangladesh Power Developement Board
  • AsiaOL BioFuels Corp., Philippines
  • Meenaskhi Energy Private Limited - India
  • Kapuas Tunggal Persada - Indonesia
  • Credit Suisse - India
  • Runge Indonesia
  • Economic Council, Georgia
  • Thermax Limited - India
  • Wilmar Investment Holdings
  • Cardiff University - UK
  • Asian Development Bank
  • Deutsche Bank - India
  • Coal and Oil Company - UAE
  • Manunggal Multi Energi - Indonesia
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Orica Mining Services - Indonesia
  • Freeport Indonesia
  • Pendopo Energi Batubara - Indonesia
  • Vijayanagar Sugar Pvt Ltd - India
  • Sinarmas Energy and Mining - Indonesia
  • PTC India Limited - India
  • World Bank
  • KOWEPO - South Korea
  • Electricity Generating Authority of Thailand
  • SMC Global Power, Philippines
  • RBS Sempra - UK
  • Videocon Industries ltd - India
  • Kaltim Prima Coal - Indonesia
  • Australian Coal Association
  • bp singapore
  • JPower - Japan
  • Mjunction Services Limited - India
  • Idemitsu - Japan
  • globalCOAL - UK
  • PetroVietnam
  • Ministry of Mines - Canada
  • Holcim Trading Pte Ltd - Singapore
  • Miang Besar Coal Terminal - Indonesia
  • Ind-Barath Power Infra Limited - India
  • Riau Bara Harum - Indonesia
  • Cebu Energy, Philippines
  • LBH Netherlands Bv - Netherlands
  • IHS Mccloskey Coal Group - USA
  • Petron Corporation, Philippines
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • TNPL - India
  • CESC Limited - India
  • Rashtriya Ispat Nigam Limited - India
  • Bangkok Bank PCL
  • Independent Power Producers Association of India
  • NALCO India
  • Fearnleys - India
  • McKinsey & Co - India
  • Dalmia Cement Bharat India
  • Pipit Mutiara Jaya. PT, Indonesia
  • Singapore Mercantile Exchange
  • ACC Limited - India
  • Alfred C Toepfer International GmbH - Germany
  • Planning Commission, India
  • TGV SRAAC LIMITED, India
  • TNB Fuel Sdn Bhd - Malaysia
  • Bhushan Steel Limited - India