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Table
of Contents
Maritime
Administration
64. Vessel Documentation: Lease Financing for Vessels Engaged in the
Coastwise Trade; Second Rulemaking
Maritime
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Maritime
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63. |
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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 |
64. |
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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 |