Ask Ahab: May 2026

Dear Ahab:

I’m hearing that importers can finally seek refunds on IEEPA duties. Is this real, and what do I need to know before jumping in?

--Refund Curious

Dear Refund Curious:

Yes, it’s real! U.S. Customs and Border Patrol (CBP) recently opened a formal electronic refund process, through its ACE Portal, for duties paid under the International Emergency Economic Powers Act (IEEPA). Unfortunately, the refund request is only applicable to an importer with unliquidated entries and entries that are fewer than 80 days past liquidation. CBP will not even consider your refund request if you do not fit this description.

To submit your request, you will need to set up a new ACH account, which must be linked to a U.S. bank account, because refunds will only be issued via ACH.

Additionally, when preparing your submission, understand that accuracy matters. This means that you must make sure all IEEPA tariff codes are included and every entry number is correct. Once submitted, the system will validate the request, and only completed filings will receive confirmation. If approved, refunds, plus interest, will typically be deposited into your account within 60 to 90 days.

One more thing to remember, help is available if you are having a difficult time filling out this request, because brokers are allowed to make the filing on your behalf. Therefore, if you need help, contact a broker who you trust. While there may be a fee, understand it is probably a small price to pay to get all the money back that you never needed to pay in the first place.

Dear Ahab:

As oil supplies seem to be dropping, are we in danger of running out of fuel to ship our cargo? If so, should I hedge my bets and start bringing cargo in now? -

-Preparing for the Worst

Dear Preparing for the Worst:

Fuel markets are undeniably tight, but no, the industry is not on the brink of running out of fuel. What you’re seeing is a supply‑risk premium driven by geopolitics, refinery constraints, and market uncertainty, not empty tanks. Fuel remains available, but it is more expensive, more volatile, and in some regions harder to secure at predictable prices. That volatility inevitably flows through to freight rates, fuel surcharges, and capacity planning.

Advancing shipments can make sense in the right circumstances, particularly if your inventory turns quickly, storage costs are manageable, and protecting margin is a higher priority than preserving cash flow. However, pulling cargo forward without a clear plan can just as easily leave you overstocked if demand softens or rates stabilize.

The smarter approach is measured, not reactive. Work with a trusted logistics advisory, understand your exposure to the fuel market, and make educated decisions based off of information in-front of you, rather than hedging out of fear.