The recently enacted "American Jobs Creation Act" gives significant tax breaks to a number of U.S. industries--including shipping. MARINE LOG and BLANK ROME will present a senior level seminar CHANGES IN U.S. TAXATION OF SHIPPING INCOME in Stamford, Conn. on April 5 & 6, 2004 Make sure you know how the new tax rules work! |
March 20, 2005 Danish tug order for Canadian yard Danish owner Stevn, part of the Nordane Group, has ordered two Z-drive multifunction, ice class tugs from Irving Shipbuilding's East Isle Shipyards, Georgetown, Prince Edward Island. The order is worth Canadian $19 million. The tugs are expected to take a year and two months to complete and construction will begin immediately. The project will receive support from Prince Edward Island in the form of a $3.5 million repayable loan from Island Investment Development, Inc. It may also receive support from the Canadian federal shipbuilding Structured Financing Facility, which has received applications for $1.425 million support for each vessel, one from Partrederiet Stevns Bugser and the other from Partrederiet Stevns Multi-Ship II.
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