Proposal to Increase U.S. vessel Tonnage Duties

Monday, October 31, 2005
The House Committee on Transportation and Infrastructure issued a Press Release stating that, as part of the budget reconciliation process, it will propose that vessel tonnage duties be increased. Under the proposal, the duty on a vessel arriving from a foreign port in North America, Central America, the West Indian Islands, and the Bahamas Islands would be increased from 2 cents per ton to 4.5 cents per ton, not to exceed 22.5 cents per ton in a single year. The duty on a vessel arriving from any other foreign port would be increased from 6 cents per ton to 13.5 cents per ton, not to exceed 67.5 cents per ton in a single year. It is estimated that this proposal will increase federal receipts by $32 million in fiscal year 2006 and by $156 million for the five-year period 2006-2010. Source: HK Law
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

EU Regs on Ship CO2 Reporting Complicates IMO Agreement

ICS Concerned that EU will Preempt IMO CO2 Negotiations.   The global trade association for shipowners – the International Chamber of Shipping (ICS) – is disappointed

Asia VLCC Rates Could Could Climb Even More

Owners see rates climb by nearly $22,000 per day; Rates could peak as more tonnage comes free. Rates for very large crude carriers (VLCCs) on key Asian routes

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1161 sec (9 req/sec)