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Don't Lien on Me: Identification and Mitigation of Maritime Lien Risks in Marine Lease/Loan Transactions

Due to their increasing size, specialization and technological sophistication, today’s vessels present attractive “big-ticket” financing opportunities. However, commercial vessels, regardless of type, will inevitably incur...more

U.S. Customs and Border Protection Withdraws Proposed Changes to Jones Act Rulings

In a move hailed as a win for international offshore marine contractors and oil companies operating in the Gulf of Mexico and decried as a setback for domestic shipping interests, the U.S. Customs and Border Protection...more

Offshore Supply Vessel Market Turnaround May Be In Sight, But You Need a Long Telescope to See It

I attended an excellent conference on March 3, 2016, put on by WorkBoat® exploring the “OSV Capital Outlook for 2016 and Beyond”. The conference featured a diverse and highly experienced panel of speakers including investment...more

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

2/1/2016  /  Ad Valorem Tax , Tax Credits , Vessels

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

Are ‘Best Efforts’ Provisions Enforceable in Maritime Contracts?

Parties to maritime contracts frequently include requirements that one or the other party or both of them will use their “best efforts” to perform duties described in the contract. But they also frequently give little thought...more

Fifth Circuit: No Overtime Pay for Crewmember Tankermen

On November 13, 2014, the U.S. Fifth Circuit Court of Appeals held in Coffin v. Blessey Marine Services, Incorporated, Case No. 13-20144, that individuals who loaded and unloaded tank barges as part of their duties as crew of...more

Designated Entity Clauses — No Substitute For Knowing Who You Are Dealing With

With increasing frequency, parties to charters and other maritime contracts are including so-called Designated Entity Clauses or “OFAC” provisions. These clauses have the aim of complying with sanction programs such those...more

11/19/2013  /  EU , Multinationals , OFAC , United Nations
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