Headlines: USCG – letter to DWH PIIs; IRS – treatment of vessel leasing income; NOAA – OER Strategic Plan; FMC – meeting on May 11; USACE – three Mississippi River levees breached; UK – report re fire and explosion on bulk carrier; and Forfeiture Act – May 6, 1796.
May 6, 2011
Bryant’s Maritime Blog
Bryant’s Maritime Consulting - 4845 SW 91st Way - Gainesville, FL 32608-8135 - USA
Note: This blog is one section of the Bryant’s Maritime Consulting website. Visit the site for more extensive maritime regulatory information. Individual concerns may be addressed by retaining Dennis Bryant directly. Much of the highlighted text in this newsletter constitutes links to Internet sites providing more detailed information. Links on this page may be in PDF format, requiring use of Adobe Acrobat Reader. Comments on these postings are encouraged and may be made by clicking the envelope that appears at the end of each posting. Be aware that the daily blog entry is a single posting, even though it contains a number of individual items. “It is a tale, told by an idiot, full of sound and fury, signifying nothing.” – William Shakespeare.
USCG – letter to DWH PIIs
The US Coast Guard issued a letter to Parties-In-Interest (PIIs) in Deepwater Horizon Investigation reminding them of the opportunity to provide input to the Coast Guard on matters which may advance the investigation. Issues of interest include: the explosions, the resulting fire, evacuations, the flooding and sinking of the MODU, and the safety systems onboard the Deepwater Horizon. Submissions by the PIIs must be received by June 1. (5/4/11). Note: This item was brought to my attention by my good friend Jon Waldron of Blank Rome LLP.
IRS – treatment of vessel leasing income
The Internal Revenue Service (IRS) issued a final rule addressing treatment of certain income and assets related to the leasing of aircraft or vessels in foreign commerce. In general, the regulations will affect United States shareholders of controlled foreign corporations that derive income from leasing aircraft or vessels in foreign commerce and US persons that transfer property subject to these leases to a foreign corporation. The regulations come into effect immediately. 76 Fed. Reg. 26178 (May 6, 2011).
NOAA – OER Strategic Plan
The National Oceanic and Atmospheric Administration (NOAA) issued a notice stating that it has completed the Ocean Exploration and Research (OER) Strategic Plan FY2011-FY2015. The plan describes the vision, mission, goals, core activities, and organization of the NOAA Office of Ocean Exploration and Research. 76 Fed. Reg. 26254 (May 6, 2011).
FMC – meeting on May 11
The Federal Maritime Commission (FMC) issued a notice stating that the Commission will meet on Wednesday, May 11. During the open session, the Commission will consider implementation of the NVOCC Tariff Publication Exemption; trade conditions; and practices related to the movement of household goods. During the closed session, the Commission will consider trends in filed service contracts and a request from China for adjustment of the NVOCC bond rider for the China trades. 76 Fed. Reg. 26296 (May 6, 2011).
USACE – three Mississippi River levee sections breached
The US Army Corps of Engineers (USACE) issued a news release stating that it has operated the Birds Point New Madrid Floodway on the Mississippi River near Cairo, Illinois for the first time since 1937 by breaching three levee sections. (5/5/11).
UK – report re fire and explosion on bulk carrier
The UK Marine Accident Investigation Branch (MAIB) issued the report of its investigation of the fire and explosion on board a self-unloading (SUL) bulk carrier in western Scotland on 2 July 2010. The fire probably was the result of hotwork recently performed near the cargo conveyor belt. The hotwork was not performed in accordance with established safety procedures. Elements of the conveyor belt are highly flammable. There were no effective means of early detection or containment of the fire, which spread to the engineroom and nearby spaces used for chemical storage. The chemicals exploded, severely damaging the ship. Report 5/2011 (5/5/11).
Forfeiture Act – May 6, 1796
Congress adopted the Forfeiture Act, 1 Stat. L. 461. Among other things, this law provided that one-half of all penalties, fines, and forfeitures incurred and paid under the impost (customs) laws of the United States and recovered in consequence of information given by any officer of a revenue cutter shall be paid to the officers of such cutter, to be divided among them in proportion to their pay. (5/6/1796). Ah! Those were the days!
If you have questions regarding the above items, please contact the editor:
Dennis L. Bryant
Bryant’s Maritime Consulting
4845 SW 91st Way
Gainesville, FL 32608-8135
© Dennis L. Bryant – May 2011