On September 18, 2015, the Department of the Treasury and the Department of Commerce announced additional revisions to the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR). The changes take effect on Monday, September 21, 2015, as published in the Federal Register. These measures are intended generally to do the following: to further facilitate travel to Cuba for authorized purposes; expand the telecommunications and internet-based services general licenses, including by authorizing certain persons subject to U.S. jurisdiction (which includes individuals and entities) to establish a business presence in Cuba, such as through subsidiaries or joint ventures; allow certain persons to establish a physical presence, such as an office or other facility in Cuba to facilitate authorized transactions; allow certain persons to open and maintain bank accounts in Cuba to use for authorized purposes; ...
This blog discusses the latest trends in shipping, affecting shipowners, operators, ports, marinas, shippers, insurers and others with a stake in the maritime industry.