The customs "two-stage admission" plus "conditional release" regime changed the clearance rhythm for transshipped goods. Cargo can leave the port first and settle tax and inspection later; for STS anchorage transshipment the capital occupation cycle drops from about 11 days to around 7 — four fewer days of money sitting in transit, which is real turnover for the transshipment trader.

This lines up with SNSUC's offshore-supplier position. Title sits with the offshore SPV, and the destination port is locked to the STS anchorage before the letter of credit opens (F7). Two-stage admission makes the in-transit title visible earlier and pledgeable earlier, without waiting for every document to clear.

The red lines hold: transshipment settlement stays within one bank and one currency (F5), and origin is a one-strike rejection (F8). The policy loosens clearance efficiency, not the compliance gate.