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Vessel Registrar Center Helps Vessel Owners Navigate New Jones Act Warrants


News provided by

Vessel Registrar Center

Sep 18, 2023, 09:30 ET

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As the USCG Documentation Rules Change, the Vessel Registrar Center Adapts These Changes for Clients

MISSOULA, Mont., Sept. 18, 2023 /PRNewswire-PRWeb/ -- The Vessel Registrar Center is a site exclusively designed to help vessel owners with the Coast Guard boat documentation process. They are currently able to help vessel owners who are eligible for "Jones Act warrants." These make it possible for non-U.S. citizens to own more than just 25% of the stock of a company that owns a coastwise vessel.

In an April 10th Determination Letter, the United States Coast Guard found that non-U.S. citizens can also own Jones Act warrants so long as warrant owners have no voting rights, no right to exercise any preemptive rights, are ineligible to receive any dividends or other distributions by the vessel owning company, among other specifications.

"These recent USCG changes make it possible for more people to own the vessel they want and use it in their preferred manner. We are more than happy to facilitate this process for our clients," said Dave Mullens of the Vessel Registrar Center.

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Additionally, the non-U.S. citizen ownership of the company that owns the vessel cannot exceed 24.9% in the aggregate and their warrants can only be transferred subject to provisions that restrict transferees of such warrants to exercise them only if the result will not cause non-U.S. citizen ownership of the company to exceed 24.9%.

Vessels that measure more than five net tons and are owned by American citizens or companies are eligible for documentation, per Coast Guard documentation requirements.

Additionally, vessels that transport people and/or merchandise on the navigable waters of the United States or the Exclusive Economic Zone must have a "Coastwise" endorsement.

In addition to helping with documentation for vessels with a Coastwise endorsement, the Vessel Registrar Center also can help vessel owners to acquire Registry, Fishery, and Recreational endorsements, respectively.

Vessel owners can apply for an Abstract of Title through the site, conduct a vessel documentation search there, apply for their initial documentation, renew it, and reinstate it, among other services.

For more information about Coast Guard documentation vs. State registration, Certificate of Documentation renewal, or to make a press inquiry, contact the Vessel Registrar Center at [email protected]

Media Contact

Ezekiel Hernandez, Vessel Registrar Center, 1 213-332-9255, [email protected], https://usvesselregistrar.us/

SOURCE Vessel Registrar Center

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