In a much-anticipated decision, the United States Supreme Court held that choice-of-law provisions in marine insurance contracts are presumptively enforceable under federal maritime law with a few narrow exceptions. In Great Lakes Insurance SE v. Raiders Retreat Realty Co., LLC, 601 U.S. ___ (2024), the country’s highest court overturned a Third Circuit Court of
The Capital Construction Fund (“CCF”) program is a joint program of the Internal Revenue Service and the United States Maritime Administration which provides federal income tax incentives, mostly through tax deferral, to vessel owners and operators.
Continue Reading State Law Taxation of Capital Construction Funds
The Port of New Orleans has been awarded a $73.8 million federal grant to support the initial construction of its Louisiana International Terminal (LIT) project in St. Bernard Parish. The new terminal, located in Violet, Louisiana, will be able to serve vessels of all sizes by avoiding height restrictions from bridges further up the Mississippi River and taking advantage of the deeper, 50-foot Lower Mississippi River Ship Channel.
Continue Reading Louisiana International Terminal Project Receives Federal Funding Boost