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Table of Contents
Maritime Administration
67. Vessel
Documentation: Lease Financing for Vessels Engaged in the Coastwise Trade;
Second Rulemaking
Maritime Administration |
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Maritime Administration |
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66. |
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Popular
Title:
Agricultural Exports |
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RIN
2133-AB37 |
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Stage: NPRM |
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Previous
Stage: ANPRM: Publication
Date 1/28/99; End of Comment Period 3/29/99. |
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Abstract: This rulemaking would update and
clarify the cargo preference regulations to increase regulatory compliance.
MARAD issued the cargo preference regulations to implement the requirements
of section 901 of the Merchant Marine Act, 1936, as amended. Departments,
agencies, and shippers who must comply with the Act must follow the cargo
preference regulations. |
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Effects:
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Prompting
action: None |
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Rulemaking
Project Initiated:
12/01/1996 |
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Dates
for NPRM:
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Federal
Register
Citation for NPRM:
None |
67. |
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Popular
Title: Joint
Lease Financing |
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RIN
2133-AB51 |
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Stage: NPRM |
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Previous
Stage:None |
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Abstract: This is a joint MARAD/Coast Guard
rule. The Maritime Administration (MARAD) proposes to amend its regulations
to require MARAD's approval of all transfers of the use of a lease-financed
vessel engaged in the coastwise trade back to the vessel's foreign owner, the
parent of the owner, a subsidiary or affiliate of the parent, or an officer,
director, or shareholder of one of them. In 1992, MARAD amended its
regulations to grant general approval for time charters of U.S.-flag vessels
to charterers that were not U.S. citizens (non-citizens) and to eliminate
MARAD's review of these time charters. The lease-financing provisions
potentially allow a non-citizen to exert additional control over a vessel
operated in the coastwise trade by becoming the owner of the vessel and time
chartering the vessel back to itself or to a related entity through an
intermediate U.S. citizen bareboat charterer. MARAD's review of charter
arrangements in the limited circumstances where the time charterer is related
to the non-citizen vessel owner will ensure that U.S. Citizens maintain
control over vessels operating in the coastwise trade. |
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Effects:
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Prompting
action: None |
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Rulemaking
Project Initiated:
03/04/2003 |
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Dates
for NPRM:
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Federal
Register
Citation for NPRM:
None |