New Regulations
Proposed Regulations Regarding Source From Activities in Intl. Waters
The Internal Revenue Service (the "IRS") has issued proposed regulations under section 863 of the Internal Revenue Code of 1986, as amended (the "Code"), providing new rules for determining the source of income from activities conducted in international waters for purposes of U.S. income taxation. These new regulations come shortly after the release last year of regulations under Section 883 of the Code that significantly affected the exemption from U.S. income tax of income from the international operation of a vessel owned by a non-U.S. corporation. While the new regulations also apply to space activities and similar new regulations apply to communication activities, the new rules may have the most significant impact on both U.S. persons engaged in shipping activities through a foreign corporation and foreign shipping companies currently doing business in the United States. The IRS is accepting written comments on the proposed regulations and there will be a public hearing that is currently scheduled for March 28, 2001, although we understand that, because of the interest generated by the proposed regulations, the IRS intends to delay the hearing until May. While U.S. citizens, resident aliens and domestic corporations are generally taxed by the United States on all of their worldwide income regardless of where such income is earned, the source of income remains important for such purposes as determining eligibility for the foreign tax credit
Canada – New Marine Personnel Regulations
Transport Canada has issued new regulations to modernize the certification system for Canadian seafarers and harmonize their working conditions with international labor standards. Source: HK Law
Vessel Tracking on IMO Agenda
IMO’s Maritime Safety Committee (MSC) is scheduled to take place on May 10 through May 19. Long-range identification and tracking of ships on agenda. MSC will discuss the proposed adoption of new regulations on Long-Range Identification and Tracking (LRIT) of ships, when it meets at the Organization's London Headquarters for its 81st session. Other important issues on the MSC agenda include the adoption of other amendments to the SOLAS and STCW Conventions
AAPA: New Security Regulations Will Require Billions in Investment
The American Association of Port Authorities commends Homeland Security Secretary Tom Ridge and the U.S. Coast Guard (USCG) on the release of regulations to secure America's ports from terrorist acts. These final regulations call for port facilities to conduct vulnerability assessments, develop security plans and implement enhanced security measures. Enhancing seaport security is a top priority for U.S. ports today. Public port agencies have invested millions of dollars to increase
BOEMRE Public Workshop on Offshore Energy Regs
The Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) will conduct a public workshop March 15, 2011, in New Orleans to discuss new requirements for offshore oil and gas companies to develop and implement Safety and Environmental Management Systems (SEMS). The new regulation, 30 CFR 250, Subpart S, was published in the Federal Register on October 15, 2010, and takes effect on November 15, 2011.
New Hazardous Material Transportation Training Program
Environmental Resource Center offers in-depth training on regulations for marine & air transportation of hazardous materials. Businesses that are involved in the sea or air transportation of hazardous materials can help their workers keep up with recent changes in new regulations that will impact their shipments through four seminars and webcasts from transportation consulting firm Environmental Resource Center
Noble Drilling Acquires Jackup Rig
Noble Drilling Corporation has formed a joint venture with Lime Rock Partners, and the joint venture has acquired Ocean Scotian, a North Sea jackup, for $32.7 million. Concurrent with the acquisition, the rig was renamed Noble Julie Robertson. Noble Drilling owns 50 percent of the joint venture, and will manage the upgrade, marketing and operation of the rig. Noble Drilling expects to upgrade the drilling systems and the crew accommodations in order to conform to the new regulations
July 1: One More Day
SOLAS amendments and ISPS Code enter into force on 1 July 2004 Far-reaching international maritime security measures developed and adopted by IMO enter into force on 1 July 2004. The security measures, which include the International Ship and Port Facility Security Code (ISPS Code), are in the form of amendments to the 1974 Safety of Life at Sea (SOLAS) Convention and are aimed at enhancing maritime security on board ships and at ship/port interface areas
Amended IMO Regulations Positive for Teekay
The International Maritime Organization (IMO) has announced stricter regulations governing the tanker industry on a worldwide basis. The IMO regulations, scheduled to become effective April 5, 2005, will accelerate the mandatory phase-out of single-hull tankers as well as impose a more rigorous inspection regime for older tankers. The regulations will ban the oldest single-hull tankers, representing approximately 12 percent of the current world tanker fleet
ClassNK
Noboru Ueda & ClassNK Push Ahead in the United States There has been a decided uptick in activities from Japan’s ClassNK in the last 18 months, as it continues to drive its world-leading tonnage numbers ever higher. Led by Chairman and President Noboru Ueda, ClassNK has been making moves to extend its influence globally, including a big push for growth in the U.S. Maritime Reporter & Engineering News was able to visit with Mr
ARTCO Turns to Class NK's SMSLLC for TSMS Help
SMSLLC to help leading tug and barge operator to prepare for new Towing Safety Management Regulation. Safety Management Systems LLC announced on April 18, 2013 that it has won a contract from American River Transportation Company (ARTCO) to assist the company to establish a Towing Safety
ClassNK Certifies Vietnamese Recruitment Center
Classification society ClassNK announced that it certified the Ho Chi Minh-based Southern Crewmanning Center (SCC), in accordance with the Maritime Labor Convention 2006 (MLC 2006). This is the first Seafarer Recruitment and Placement Service (SRPS) certification that ClassNK has issued in Vietnam
Consolidation Likely as U.S. Oil and Gas Operators Grapple with New Regulation
New research reveals the impact of post-Macondo reform U.S. oil and gas professionals are losing their appetite for risk and are worried about rising operating costs, as they grapple with the consequences of a tougher, post-Macondo regulatory regime
American Salvage Association to Consider Non-Tank VRP's
New regulations for non-tank vessel response plans (VRP) to be discussed at upcomingNational Maritime Salvage Conference One issue on the conference agenda will be the new regulations for Non-Tank Vessel Response Plans (VRPs). On March 9, 2013
Ship Passengers Granted New Legal EU Rights
A new European Union regulation gives passengers travelling by water improved rights to assistance in cases of cancelled or delayed departures. Passengers travelling by water are set to enjoy improved rights to assistance in cases of cancelled or delayed departures as a new EU regulation on
Costa Concordia Tops 2012 Increase in Ship Losses
But long-term downward trend continues. • 106 ships lost worldwide in 2012, of which largest was Costa Concordia • Losses centered on South China and SE Asia seas • Industry initiatives address passenger vessels as well as
Putting the Garbage Out
Keep the seas clean in 2013, reminds North P&I Club, as new international garbage rules take effect. North P&I Club reminds its members that 2013 is the first full year of operation of new international garbage-disposal rules that greatly limit the dumping of garbage at sea
DOT Chief LaHood to Step Down
U.S. Transportation Secretary LaHood Announces That He Will Not Serve for a Second Term. Secretary Ray LaHood has announced to the employees of the U.S. Department of Transportation that after serving for four years in President Obama’s Cabinet
ISF Launches New on Board Training Book
The International Shipping Federation (ISF) has updated its widely-used On Board Training Record Book for Engine Cadets to meet the latest requirements governing seafarers’ training emanating from the STCW 2010 Manila Amendments. “The competence of engine officers is critical to
Ambrey Risk is Awarded Cyprus-Flagged Vessel
World renowned maritime security specialist Ambrey Risk has been awarded accreditation to work with Cyprus-flagged vessels. The UK-based security company, which won a Chamber of Commerce award for business growth last year, became the first UK maritime security company to be granted
Russian Presidential Decree Establishes NSR Administration
From an office in downtown Moscow, 15 people will regulate traffic along Russia’s Northern Sea Route. A decree signed this week by Prime Minister Dmitry Medvedev marks the formal establishment of the new Northern Sea Route administration
Arctic Integrated Management & Planning Advocated
A US interagency working group calls for an integrated management strategy for the rapidly changing Arctic. The recently issued report of the inter-agency working group, chaired by Interior Deputy Secretary David J. Hayes, highlights the need for a coordinated approach that uses the best
RADM Pickavance on College Maritime Program
Rear Adm. William W. Pickavance, Jr. has joined San Jacinto College as a consultant to the maritime program. Pickavance, who served as an officer in the U.S. Merchant Marine, spent 32 years on active duty as a commissioned officer with the U.S. Navy
The Glass Half Full
I tend to be a glass half full kind of guy, as even in the worst of times there tends to lie opportunity. I would not be remiss in saying there are more than a handful in the shipping community that could label conditions today “the worst of times” – simply put
The NOISE Code
A ship in compliance with the Noise Code will generate less noise and minimize deleterious impacts both on the seafarers on board and on the sea life in the vicinity Maritime Safety Committee adopted the Code on Noise Levels on board Ships, Resolution MSC