TAX CONFERENCE

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 1, 2005

Rochester gets fast ferry

There were no last minute surprise bids at yesterday's bankruptcy auction of the fast ferry Spirit of Ontario, formerly operated by CATS (Canadian American Transportation Systems).

The winning bid of $32 million came from Rochester Ferry Company, an entity created by the City of Rochester. The only other bid came from mortgage holders ABN AMRO and the Export Finance and Insurance Company of Australia, who offered $29.6 million.

Rochester Ferry Company plans to restart service between Rochester and Toronto in Spring.

We'll have further coverage in the next issue of FERRIES &: FAST CRAFT NEWS.

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