keeps you connected across the coal world

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
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

Thursday, 20 June 19
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...

Tuesday, 18 June 19
Demand drivers and freight rates Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...

Saturday, 15 June 19
Capesize The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...

Friday, 14 June 19
Capesize Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...

Friday, 14 June 19
KNOWLEDGE TO ELEVATE Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...

   2 3 4 5 6   
Showing 16 to 20 news of total 5506
News by Category
Popular News
Total Members : 26,329
User ID
Remember Me
By logging on you accept our TERMS OF USE.
Forgot Password
Our Members Are From ...

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