Maritime Transportation Act Signed into Law

The White House issued a Press Release stating, among other things, that President Bush signed into law the Coast Guard and Maritime Transportation Act of 2004 (H.R. 2443). In addition to serving as the annual authorization act for the Coast Guard and the Federal Maritime Commission, this law inserts an exemption for certain passive owners (primarily institutional lenders) into OPA 90, mandates oil spill response plans for non-tank vessels in excess of 400 gross tons, and makes numerous other changes to U.S. maritime law. It is worth your careful read. (HK Law)