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Waiver For Non-qualified U.S. Cargo Vessel Deferred

Maritime Activity Reports, Inc.

December 3, 2002

The U.S. Maritime Administration (MARAD) published a notice stating that the Government of Israel requested a waiver from the requirement that jet fuel purchased from the U.S. Government by the Israeli Ministry of Defense be transported on qualified U.S. flag vessels so that the fuel could be carried in non-qualified U.S. flag vessels. The concern was that the pool of qualified U.S. flag tankers may soon be too small to meet the need. MARAD has decided that it is premature to make such a decision. Source: HK Law

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