Last October, we informed you that the International Maritime Organisation (IMO) will be implementing the Low Sulphur regulations as from 1st January 2020.
The IMO is the organisation within the UNO which is in charge of ocean carriage regulations. In particular, they control pollution relating to worldwide ocean carriage. In 2008, they defined the limits not to be exceeded for sulphur content regarding marine fuel.
These past two years have been marked by an increasing demand of raw materials import within the Inward Customs Processing (ICP) implementation process. More and more exporting companies are opting for this regime which represents significant benefits, as well economically and financially, for the market actors.
The ICP regime allows your company to temporarily import non-Union goods into the EU's customs territory for the purposes of repair, standardization or processing without being subject to import duties, taxes related to import and commercial policy measures.