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

Maersk Line takes over USSM ships

Maersk Line, Limited (MLL) today issued a statement saying it has executed a settlement agreement relating to the U.S.-flag vessels that had been assigned to USSM in connection with the 1999 acquisition of the international liner business of Sea-Land Service, Inc. by A.P. Moller-- Maersk.

"While the specific details of the settlement will remain confidential," said the statement, "MLL confirmed today that the settlement resolves all disputes between the parties and provides for the immediate and orderly transfer of operational control to MLL of all vessels that were under time charters between USSM and MLL, effective as of February 28, 2005."


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