Purchase Involving Marine Transportation News

By Brett M. On July 1, 2004, the new port facility and vessel security requirements contained in the International Ship and Port Facility Security Code ("ISPS Code") became effective.1 The ISPS Code is implemented through Chapter XI-2 of the International Convention for the Safety of Life at Sea ("SOLAS"). Compliance with the ISPS Code is mandatory for the 148 countries that are "Contracting Parties" to SOLAS.The ISPS Code imposes security requirements on port facilities and the owners and operators of vessels subject to Chapter XI of SOLAS. In very general terms, these security requirements involve development, filing and approval of a port facility security plan ("PSP") or ship security plan ("SSP") that satisfies the requirements of the ISPS Code…