COALspot.com keeps you connected across the coal world
  • SEPTEMBER 2019 INDONESIAN COAL PRICE REFERENCE FOR EXPORTS AND DOMESTIC BUYERS INCLUDING POWER PRODUCERS FIXED AT US$ 65.79 A TON
  • SHARE YOUR CORPORATE COAL & SHIPPING NEWS WITH US - NEWS@COALSPOT.COM
  • WE WELCOME ARTICLE SUBMISSIONS FROM EXPERTS IN THE AREAS OF COAL, MINING, SHIPPING, ETC.

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

Tuesday, 20 August 19
NORDEN HAS BEEN AWARDED A 3-YEAR CONTRACT FOR THE TRANSPORTATION OF COAL FROM INDONESIA TO HONG KONG
NORDEN has been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.   ...


Tuesday, 20 August 19
THE AUGUST 2019 INDONESIAN COAL PRICE REFERENCE POSTS THE FIRST MONTHLY GAIN SINCE AUGUST 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...


Monday, 19 August 19
INDONESIAN COAL RUNS, A 82,000DWT SHIP WAS FIXED DELIVERY CHINA VIA INDONESIA, REDELIVERY JAPAN, IN THE MID $16,000S - BALTIC BRIEFING
Capesize The Capesize market was buoyant in both basins this week, posting gains across the board. After bottoming out the previous week, rates ...


Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...


Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah.  The tankers hit were waiving international flags such as that of No ...


   2 3 4 5 6   
Showing 16 to 20 news of total 5538
News by Category
Popular News
 
Total Members : 26,487
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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