Buyers and sellers of yachts in the U.S. are taking advantage of favorable laws that have ushered in the establishment of foreign trade zones (FTZs). In years past, if a buyer in the U.S. wanted to purchase a foreign-flagged yacht, he or she would have to pay hefty...
Maritime Ownership
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Failing to disclose everything can void your yacht insurance coverage
The owner of a 48-foot yacht had a solid insurance plan in place. But when disaster struck, he found that his insurance coverage was void because of his failure to disclose sufficient details to the insurance company. This unfortunate case illustrates the absolute...
Newport Shipyard receives coveted free-trade status
Safe Harbor Newport Shipyard has been declared a foreign trade zone (FTZ) under the Foreign-Trade Zones Act of 1934, the shipyard’s owner, Safe Harbor Marinas, announced in early December. The Newport facility is the only shipyard with FTZ status outside of Florida in...

