Vessels

News & Analysis as of

Offshore Supply Vessel Tax Credit Targeted in Louisiana Governor’s Proposed Fiscal Plan

Louisiana Governor John Bel Edwards’ proposal for short term fixes for the State’s fiscal problems includes a shot at already-hurting offshore supply vessel owners/operators. OSV operators/owners currently receive a...more

D.C. Appeals Court: Coast Guard May Impose Non-Financial Conditions for Departure Clearance in “Magic Pipe” Case

In Watervale Marine Co. v. U.S. Dep’t of Homeland Sec., the U.S. Court of Appeals for the District of Columbia Circuit recently affirmed a district court ruling allowing the Secretary of the Department of Homeland Security –...more

Seven Key Clauses in a Vessel Purchase Agreement

Vessel sales are a constant in the marine industry, even during downturns in the market. In fact, some see adverse market conditions as an opportunity to find bargains on vessels and other marine equipment. Once the buyer has...more

“In Navigation” Status for Vessels under Renovation Remains Unclear

A Texas court of appeals recently held that a drill ship undergoing a renovation for nearly two years in dry dock might still be a “vessel in navigation.” Gold v. Helix Energy Solutions Group, Inc., No. 14-15-00123-CV, (Tex....more

SOLAS Convention Container Weight Verification Requirements Arrive Sooner Than You Think

Beginning July 1, 2016, the SOLAS Convention will require the shipper of a packed export container to verify the container’s weight before it is loaded aboard a ship. In November 2014, the International Maritime...more

FSRUs: Looking back at the Evolution of the FSRU Market

The growth of the floating storage and regasification unit (FSRU) market has been exponential over the past decade. The birth of the industry can be traced back to mid-2001, when El Paso contracted with Belgian ship-owner...more

Stormwater Permits Are Not One Size Fits All

It’s rare for a stormwater lawsuit to result in a court decision since most settle in the early stages, but a ruling by U.S. District Court Judge John C. Coughenour in the Western District of Washington provides useful...more

U.S. Coast Guard Issues Final Rule Raising OPA 90 Liability Limits

Action Item: The U.S. Coast Guard published a Final Rule increasing limits of liability for vessels, deepwater ports, and onshore facilities under the Oil Pollution Act of 1990 (“OPA 90”). The raise in liability limits also...more

2nd Circuit case highlights complexities of ballast water regs

Effective control of ship-borne, nonindigenous organisms has proved to be a major challenge to the maritime industry, international maritime organizations, national and local governments, environmental organizations, and,...more

Add Insult to Injury: TOTE Maritime’s Lawsuit Decision after El Faro Sinking

On September 29 of this year, many residents living along the East Coast of the United States and throughout the Caribbean were preparing for the potential impact of Hurricane Joaquin. In Jacksonville, Florida, final...more

Court of Appeal finds that ship owner “got what it agreed to pay for”

(1) PST Energy 7 Shipping LLC and (2) Product Shipping & Trading S.A. v. (1) O.W. Bunker Malta Ltd and (2) ING Bank N.V. [2015] EWCA Civ 1058. In a decision which has wide reaching implications for ship owners, the Court...more

Stuck in the Bunker – OW and Retention of Title

The fallout from the OW Bunker bankruptcy in November last year continues with a number of claims being heard in the English courts. Last month the owners of the vessel “Res Cogitans” appealed to the Court of Appeal against...more

Reporting Marine Casualties: U.S. Coast Guard Guidance Helps to Bring Some Clarity to the Debate

In July 2015, the U.S. Coast Guard released the Navigation and Vessel Inspection Circular 01-15 (“NVIC”), titled Marine Casualty Reporting Procedures Guide with Associated Standard Interpretations. The purpose of the NVIC is...more

Trading with Cuba: Too soon to mix up the Cuba Libres?

Now that the Obama administration has loosened its restrictions on Cuba, you’re ready to sell your widgets to a Havana factory, right? Not so fast! Although you may be able to do some things in or with Cuba that you couldn’t...more

US Implements Additional Measures to Liberalize Cuba Sanctions

On September 21, 2015, the United States further amended existing regulations to implement the changes announced by President Obama on December 17, 2014 liberalizing US sanctions and export controls targeting Cuba. As a...more

England: Inordinate Delay in Delivering Award is not Sufficient as a Ground to Set it Aside

The English courts have recently taken a firm position on a party's right to challenge an arbitral award on the basis of the tribunal's delay in producing that award. In B.V.Scheepswerf Damen Gorinchem v The Marine Institute...more

New Regulations Further Ease Maritime Transport and Travel Restrictions on Cuba

Action Item: The Administration further implemented its new Cuba policy facilitating passenger vessel service to Cuba and opening opportunities in Cuba’s maritime, telecommunications, and construction sectors. Considering the...more

"OFAC and BIS Further Ease Cuba Restrictions"

On September 21, 2015, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) amended their respective Cuba regulations to...more

U.S. Coast Guard Revises Policy on Extensions for the Installation of Ballast Water Treatment Systems

Action Item: The U.S. Coast Guard issued a new policy letter that streamlines the process for vessel owners and operators to apply for an extension to their compliance date for installing ballast water treatment systems....more

Shipping Act Antitrust Exemption Held for the First Time to Preempt State Antitrust Laws

For the first time, a federal court has held that the Shipping Act of 1984, 46 U.S.C. §§ 40101–41309 (Shipping Act), preempts state-law antitrust claims. The federal district court in New Jersey applied conflict preemption...more

Fifth Circuit Concludes That FCA Claim Was Not Covered By Insurance Policy

The U.S. Court of Appeals for the Fifth Circuit recently rejected a shipbuilder’s claim against its insurance company seeking defense and indemnification from a False Claims Act suit. See XL Spec. Ins. Co. v. Bollinger...more

A timely lesson: understanding how a sale contract dispute may have serious financial consequences beyond that contract alone

In the recent case of Sang Stone Hamoon Jonoub Co Ltd v Baoyue Shipping Co Ltd ([2015] EWHC 2288 (Comm)), Mr Justice Males provided direction on the potential liability of cargo owners to shipowners where they do not take...more

New York-Based Marine Insurer Settles Potential U.S. Sanctions Violations

As if to provide a not-too-subtle reminder to insurers of the applicability of U.S. trade sanctions to their businesses, the Treasury Department’s Office of Foreign Asset Control (OFAC) announced on August 6, that a New...more

OFAC Announces Settlement Agreement with Insurance Company

On August 6, OFAC announced a $271,815 settlement with a New York-based insurance company with an overall focus on marine insurance and related lines of business, professional liability insurance, and commercial umbrella and...more

Insurers Take Notice: Don’t Become a Casualty of Trade Sanctions Violations!

The U.S. Department of Commerce’s Office of Foreign Assets Control (OFAC) announced that Navigators Insurance Company, which is headquartered in New York and specializes in marine insurance and related lines of business,...more

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