Amidst changes in the maritime industry and the ongoing nuances of COVID implications, the global market of seafood remains reactive and ready to face any challenges. An essential event for the seafood industry is the Global Seafood Market Conference (GSMC) held annually by The National Fisheries Institute (NFI). This year, International Maritime Group (IMG) attended …
2022 Global Seafood Marketing Conference Wrap Up Read More »
Love it or hate it, the Jones Act is the single most important piece of US maritime legislation to date. It provides many Alaskan fishermen with jobs on the water, delivers significant employment benefits to injured mariners, and protects Alaskan seaman from the vicissitudes of foreign flagged jurisdictions by limiting US trade to US owned …
The United Nations Convention on the Law of the Sea — the US military backs it, the oil industry loves it, and Senators Murkowski and Begich support it. Hell, even the environmentalists are behind this piece of legislation. So why won’t Congress ratify this treaty and put this issue to bed? Despite the majority of …
The Law of the Sea and Its Effects On Offshore Mining Read More »
It’s a story many Alaskan businesses are familiar with. The large, multi-national company pushes a service contract onto the small, Alaskan owned and operated company with the simple undertone of: “Hey, you want to do business with us, sign the bottom line.” However, buried in these contracts is always an “Indemnity Clause.” These clauses are …
The Importance of Indemnity Agreements in Offshore Oil and Gas Contracts Read More »
Here’s a situation: suppose a Seattle company needs to ship an expensive piece of machinery worth $500,000 up to Alaska for a summer project. The company reaches out to a local carrier who agrees to ship the equipment up north for a reasonable fee. During transit, however, the carrier damages the equipment to the tune …
After a wintery reprieve, this year’s fishing season began in earnest – and not a moment too soon for most of us. Already geared up for the fishing season, some vessel owners may wish to expand their fleets and businesses this year. Yet, finding and accessing cheap capital to build or buy a boat is …
Using Bareboat Charters to Expand Fishing Fleets Read More »
Introduction Well, it’s that time of year again—fishing season. After months off in a wintery reprieve, it’s time to get back to work and go fishing—and not a moment too soon. Many vessel owners might have had an eye for expansion this season. Perhaps they are looking to build new boat or one of their …
Declining sales. Dwindling vendor opportunities. Shifting consumer preferences. As more restaurants close and seafood wholesale prices continue to crater, commercial fishermen face mounting financial pressures from the novel coronavirus pandemic. Although the Secretary of Commerce has earmarked $300 million to affected fisheries under the federal CARES Act, these funds may not be enough to prop …
Chapter 12 Bankruptcy – Five Things Every Fisherman Should Know Read More »
In the early morning of September 2, 2019 a fire ignited in the below decks area of the dive boat Conception. Before the captain and crew, who were themselves sleeping above decks, could do anything, the fire had blocked their pathway to the below decks area and they were forced to abandon the vessel. All …
Why Ditching the Limitation of Liability Act is a Bad Idea Read More »
We have great news for importers with cash flow issues… Today the Secretary of the Treasury and the U.S. Customs and Border Protection (CBP), under 19 U.S.C. 1318(a), authorized importers to temporarily postpone certain estimated duties, taxes, and fees associated with their imports. This temporary postponement is for 90 days and for duties owed. Under …
U.S. Customs and Border Protection Grants Temporary Duty Deferral on Imports Read More »