Provisions of the Energy Independence and Security Act of 2007 Implemented

The Maritime Administration (MarAd) issued a final rule implementing provisions of the Energy Independence and Security Act of 2007 and amending the definition of Agreement Vessel under the Capital Construction Fund.  Among other things, amendment incorporates into the term Agreement Vessel those US vessels engaged in the Short Sea Transportation Trade, as defined by the Act.  The changes come into effect immediately.

Source: HK Law