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Revenue Service have determined that 7.18 percent is the applicable rate of interest on the amount of additional tax attributable to any non-qualified withdrawals from a Capi- tal Construction Fund established under sec- tion 607(h) of the Merchant Marine Act of 1936, as amended, in the taxable year be- ginning 1995. The rate was determined ac- cording to joint regulations under 46 CFR 391.7(e)(2)(ii). MarAd Regs Spell Out Port Protocol During War Or National Emergency MarAd has issued a final rule which amends the agency's Federal Port Controllers regulations (46 CFR Part 345,346 and 347) and provides a clear definition of Federal Port Controller. These regulations now provide that, when needed upon the deployment of the Armed Forces of the U. S. or other requ i re- ments of the nation's defense, certain U.S. port facilities can be controlled and used exclusively by the Federal Government, op- erating through MarAd, acting as the Na- tional Shipping Authority (NSA) during a state of war or national emergency pro- claimed by the President. Federal Port Con- trollers are appointed by MarAd and operate under service agreements. The regulations (in 46 CFR Part 340) establish procedures for assigning priority for use by defense agencies, wnen appropri- ate, on commercial terms, of commercial shipping services, containers and chassis, port facilities and services, and for allocating commercial vessels, container and chassis, and port facilities and services for exclusive use by defense agencies. For additional information, contact John Pisani, Director, Office of Ports and Domes- tic Shipping, Maritime Administration, Wash- ington, D.C. 20590. Telephone: (202) 366- 4357. This rule has been assigned Docket No. R-155 and becomes effective 30 days after publication in the Federal Register. Approvals Granted • MarAd has approved an application from Shano International Inc., Great Falls, Va., for permission to sell the 83,659-dwt. tanker Liberty Belle to Nicksons Exports Pvt., Ltd., an Indian corporation, for scrapping in India. • MarAd has approved a request by LTD, Seattle, Wash., for permission to transfer to Russian registry the fishing vessel Bounty Hunter, without change in ownership. The vessel was built in 1992 in Anacortes, Wash. MarAd's approval is required under section 9 of the Shipping Act, 1916, as amended. • MarAd has given Matson Navigation Co., Inc., permission to operate the U.S.-flag containershipsPres/c/ents Hoover, Granfana Tyler in the domestic trade commencing December 1, 1 995, for a period not to ex- ceed six months per vessel. The vessels were built with the aid of construction-differential subsidy. A notice of the application, as- signee/Docket S-921, was published in the Federal Register. Comments were received from the Seafarers International Union of North America and the International Orga- September, 1995 nization of Masters, Mates and Pilots. Both unions strongly supported Matson's applica- tion for domestic service. Section 506 of the Merchant Marine Act of 1936, as amended, permits the temporary entry of subsidy-built vessels in the domestic trades, provided the owners receive written permission from MarAd and repay CDS on a pro rata basis for periods of domestic trading. • MarAd has approved a request by Raytheon-Ebasco Overseas, Ltd., Lyndhurst, N.J., to sell the power barge Megan Victoria to Smith/Enron Cogeneration Limited Part- nership, a Turks and Caicos Islands limited partnership. The vessel will be transferred to Panamanian registry. The 3,472-gt barge was built in 1994. • MarAd has announced the approval of approximately $60 million in Title XI guaran- tees for the financing of the largest paddlewheel passenger steamboat ever built. The 418-foot-long, 436-passenger Ameri- can Queen recently joined the Delta Queen and the Mississippi Queen carrying passen- gers through the heartland of America — up and down the Arkansas, Ohio, Missouri and Performance that protects the earth ©1995 Carrier Transicold Circle 235 on Reader Service Card It's zero-ODP Refrigerant-134a, to protect the environment. Value is a full line of high-performance chillers and condensing systems. It's service and parts support dedicated to the marine industry. It's a decision that keeps passengers comfortable wherever you sail. en as well as your investment. The sun sets on another memorable day. Another day enjoyed with Carrier Transicold air conditioning and refrig- eration. Another sunset preserved by a green refrigerant. Reliability and responsibility are why more and more cruise lines value Carrier. Balance is the nature of your business. Jf: We J'tf /u e your business. UNITED TECHNOLOGI
