MARAD Approves Transfer of MSP Operating Agreements to Maersk

Tuesday, June 08, 2004
The U.S. Maritime Administration (MARAD) issued a Final Opinion and Order conditionally approving the request of Maersk Line, Limited to transfer 15 Maritime Security Program (MSP) operating agreements from U.S. Ship Management (USSM) to itself. Among the conditions to which the order is subject are (1) that Maersk submit a certification that there are no laws of the foreign country of Maerskā€™s parent company that would prohibit Maersk from performing its obligations under the operating agreements and (2) that Maersk confirm its status as a U.S. documentation citizen and the status of all vessel owners purported to be U.S. citizens pursuant to section 2 of the Shipping Act, 1916. Source: HK Law
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