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New Leasing Accounting Rules May Impact Jones Act Vessel Financing

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Article

New Leasing Accounting Rules May Impact Jones Act Vessel Financing

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    Share this page

1 Min Read

Author

Charlie Papavizas

Related Locations

Washington, DC

Related Topics

Admiralty & Maritime Law
Vessels
Jones Act Finance

Related Capabilities

Maritime & Admiralty

Related Regions

North America

October/November 2016

This article originally appeared in the October/November 2016 issue of Marine Money. Reprinted with permission. Any opinions in this article are not those of Winston & Strawn or its clients; the opinions in this article are the authors’ opinions only.

Because of strict U.S. citizenship requirements, the financing of Jones Act-qualified U.S.-flag vessels has its own peculiarities, including how charters are treated. New lease accounting rules finalized in February 2016 and fully effective in 2019/2020 have the potential to alter when charters of vessels to non-citizens will be permitted. In particular, any company that has employed a long-term time charter in connection with vessel financing should carefully consider the impact of those rules.

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Related Professionals

Related Professionals

Charlie Papavizas

Charlie Papavizas

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