American Shipper

MarAd approves U.S.-flag vessel transfer

MarAd approves U.S.-flag vessel transfer

   The U.S. Maritime Administration approved the sale of the 3,904-gross-ton tanker “Saturn” to Mar Shipping Enterprises in the British Virgin Islands.

   The vessel, built in Jennings, La., will be transferred to the Panamanian registry and flag. Mar Shipping will use the ship for refueling operations in the Panama Canal.

   Under section 9 of the 1916 Shipping Act, MarAd must approve the transfer of all U.S.-flag vessels to overseas registries.