Coast Guard February 15, 2006 – Federal Register Recent Federal Regulation Documents

Vessel Documentation: Lease Financing for Vessels Engaged in the Coastwise Trade
Document Number: 06-1242
Type: Proposed Rule
Date: 2006-02-15
Agency: Coast Guard, Department of Homeland Security
The Coast Guard proposes to amend its regulations for documenting lease-financed vessels that have a ``coastwise endorsement'' (i.e., vessels used in trade and passenger service within the U.S. or between U.S. ports and those used in dredging and towing in U.S. waters). The vessels affected by this proposal are owned by foreign-owned or controlled U.S. companies, where there is a ``demise charter'' to a U.S. citizen (i.e., an agreement for the charterer to assume responsibility for operating, crewing, and maintaining the vessel as if the charterer owned it).