81_FR_5532 81 FR 5511 - Requested Administrative Waiver of the Coastwise Trade Laws: Vessel NN59; Invitation for Public Comments

81 FR 5511 - Requested Administrative Waiver of the Coastwise Trade Laws: Vessel NN59; Invitation for Public Comments

DEPARTMENT OF TRANSPORTATION
Maritime Administration

Federal Register Volume 81, Issue 21 (February 2, 2016)

Page Range5511-5512
FR Document2016-01874

As authorized by 46 U.S.C. 12121, the Secretary of Transportation, as represented by the Maritime Administration (MARAD), is authorized to grant waivers of the U.S.-build requirement of the coastwise laws under certain circumstances. A request for such a waiver has been received by MARAD. The vessel, and a brief description of the proposed service, is listed below.

Federal Register, Volume 81 Issue 21 (Tuesday, February 2, 2016) 
[Federal Register Volume 81, Number 21 (Tuesday, February 2, 2016)]
[Notices]
[Pages 5511-5512]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-01874]


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DEPARTMENT OF TRANSPORTATION

Maritime Administration

[Docket No. MARAD-2016 0001]


Requested Administrative Waiver of the Coastwise Trade Laws: 
Vessel NN59; Invitation for Public Comments

AGENCY: Maritime Administration, Department of Transportation.

ACTION: Notice.

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SUMMARY: As authorized by 46 U.S.C. 12121, the Secretary of 
Transportation, as represented by the Maritime Administration (MARAD), 
is authorized to grant waivers of the U.S.-build requirement of the 
coastwise laws under certain circumstances. A request for such a waiver 
has been received by MARAD. The vessel, and a brief description of the 
proposed service, is listed below.

DATES: Submit comments on or before March 3, 2016.

ADDRESSES: Comments should refer to docket number MARAD-2016-0001. 
Written comments may be submitted by

[[Page 5512]]

hand or by mail to the Docket Clerk, U.S. Department of Transportation, 
Docket Operations, M-30, West Building Ground Floor, Room W12-140, 1200 
New Jersey Avenue SE., Washington, DC 20590. You may also send comments 
electronically via the Internet at http://www.regulations.gov. All 
comments will become part of this docket and will be available for 
inspection and copying at the above address between 10 a.m. and 5 p.m., 
E.T., Monday through Friday, except federal holidays. An electronic 
version of this document and all documents entered into this docket is 
available on the World Wide Web at http://www.regulations.gov.

FOR FURTHER INFORMATION CONTACT: Bianca Carr, U.S. Department of 
Transportation, Maritime Administration, 1200 New Jersey Avenue SE., 
Room W23-465, Washington, DC 20590. Telephone 202-366-9309, Email 
[email protected].

SUPPLEMENTARY INFORMATION: As described by the applicant the intended 
service of the vessel NN59 is:
    Intended Commercial Use of Vessel: ``Teach sailing, take maritime 
heritage tourists, other user groups on the Sailboat's geographic 
region intended operation.''
    Geographic Region: ``Washington State, Oregon, Alaska (excluding 
waters in Southeastern Alaska and waters north of a line between Gore 
Point to Cape Suckling [including the North Gulf Coast and Prince 
William Sound]).''
    The complete application is given in DOT docket MARAD-2016-0001 at 
http://www.regulations.gov. Interested parties may comment on the 
effect this action may have on U.S. vessel builders or businesses in 
the U.S. that use U.S.-flag vessels. If MARAD determines, in accordance 
with 46 U.S.C. 12121 and MARAD's regulations at 46 CFR part 388, that 
the issuance of the waiver will have an unduly adverse effect on a 
U.S.-vessel builder or a business that uses U.S.-flag vessels in that 
business, a waiver will not be granted. Comments should refer to the 
docket number of this notice and the vessel name in order for MARAD to 
properly consider the comments. Comments should also state the 
commenter's interest in the waiver application, and address the waiver 
criteria given in Sec.  388.4 of MARAD's regulations at 46 CFR part 
388.

Privacy Act

    Anyone is able to search the electronic form of all comments 
received into any of our dockets by the name of the individual 
submitting the comment (or signing the comment, if submitted on behalf 
of an association, business, labor union, etc.). You may review DOT's 
complete Privacy Act Statement in the Federal Register published on 
April 11, 2000 (Volume 65, Number 70; Pages 19477-78).

    By Order of the Maritime Administrator.

    Dated: January 12, 2016.
Thomas M. Hudson, Jr.,
Secretary, Maritime Administration.
[FR Doc. 2016-01874 Filed 2-1-16; 8:45 am]
 BILLING CODE 4910-81-P

Federal Register / Vol. 81, No. 21 / Tuesday, February 2, 2016 / Notices 5511 g. The total dollar amount of Class B Management Company that is highly reserving more private capital. The commitments must be equal to the Class disproportionate to the ownership of the strategies you choose to employ should A limited partner’s unfunded general partner (e.g., one principal is the be appropriate for your management commitment to the SBIC. SBA will not 100% owner) is not viewed favorably by team’s track record and investment require Class B commitments if the SBA, but may be acceptable if there are strategy. SBIC’s Regulatory Capital will not adequate checks and balances on the C. SBA Diversification Rights. Per 13 include any unfunded commitments powers of the dominant owner. Areas CFR 107.320, SBA reserves the right to from the Class A limited partner. that cannot be subject to unilateral maintain diversification among Early C. Capitalization. Applicants must decision-making include the following: Stage SBICs with respect to (i) the year raise the minimum $20 million in 1. Power to remove or terminate other in which they commence operations Regulatory Capital by the time the principals. (‘‘vintage year’’) and (ii) geographic license application is submitted. 2. Power to change the composition of location. 1. Capital commitments from limited the Early Stage SBIC’s investment 1. Vintage Year Diversification. partners must be made directly to the committee. Vintage year has a major impact on the SBIC (and its parent fund, in the case of V. Early Stage SBIC Licensing return expectations of a fund and a drop-down) with no intermediaries Evaluation Criteria excessive concentration in a single year involved. could substantially increase program 2. The Early Stage SBIC applicant A. General Criteria. SBA will evaluate risk. Therefore, SBA reserves the right, must have the unconditional ability to an Early Stage SBIC license applicant when licensing Early Stage SBICs, to legally enforce collection of each capital based on the submitted application maintain diversification across vintage commitment. materials, Investment Committee years. If SBA receives an extraordinary 3. Capital Certificate. Capital interviews with the applicant’s number of qualified applicants in FY commitments must be documented in management team, and the results of 2016, it may not approve all such the capital certificate (Exhibit K of SBA background investigations, public applicants in the same Fiscal Year. Form 2183) and comply with the record searches, and other due diligence 2. Geographic Diversification. All following: conducted by SBA and other Federal Early Stage SBICs must first meet SBA’s a. A signed Capital Certificate must be agencies. SBA will evaluate an Early basic licensing criteria. After those submitted with the license application. Stage SBIC license applicant based on criteria are met, SBA reserves the right b. SBA will permit only the sole the same factors applicable to other to maintain diversification among Early following condition on private capital license applicants, as set forth in 13 CFR Stage SBICs with respect to the commitments: the receipt of an Early 107.305, with particular emphasis on geographic location in which the Early Stage SBIC license. managers’ skills and experience in Stage SBIC expects to invest. c. Individual investors must list evaluating and investing in early stage primary residence address, not a companies. As discussed in the Final Michele Schimpp, business address. Rule, evaluation criteria fall into four Deputy Associate Administrator Office of d. Street addresses are required (no areas: (A) Management Team; (B) Track Investment and Innovation. P.O. Box addresses). Record; (C) Proposed Investment [FR Doc. 2016–01879 Filed 2–1–16; 8:45 am] 4. A dual commitment may be Strategy; and (D) Organizational BILLING CODE 8025–01–P obtained to back up the commitment of Structure and Fund Economics. You any direct investor in the SBIC who is should review these regulations prior to not an Institutional Investor. completing your MAQ. DEPARTMENT OF TRANSPORTATION 5. Capital commitments by the B. Managing SBA Leverage. SBA will principals, general partner, or their pay particular attention to how a team’s Maritime Administration affiliates must be payable in cash when investment strategy works with proposed SBA leverage. Early Stage [Docket No. MARAD–2016 0001] called (cannot be satisfied with notes or management fee waivers). Debenture leverage either requires a 5 Requested Administrative Waiver of D. General Partner year interest and annual charge reserve the Coastwise Trade Laws: Vessel 1. All principals must: from the date of issue or is structured NN59; Invitation for Public Comments a. Hold direct ownership interests in with an original issue discount that and be the direct individual managers of covers the interest and annual charges AGENCY: Maritime Administration, the general partner, with no intervening for the first 5 years. In either case, Early Department of Transportation. entities. Stage SBICs must identify how quarterly ACTION: Notice. b. Receive carried interest directly interest payments beginning in the 6th from the general partner; for drop-down year from Debenture issue will be met. SUMMARY: As authorized by 46 U.S.C. SBICs, carried interest may be received Sources of liquidity to make interest 12121, the Secretary of Transportation, from the parent fund’s general partner. payments may include (a) private as represented by the Maritime 2. A maximum of 25% of the carried capital; (b) realizations; or (c) current Administration (MARAD), is authorized interest may be allocated to non- income. As part of your plan of to grant waivers of the U.S.-build principals. operations, you should carefully requirement of the coastwise laws under 3. Any provision to remove or consider how your investment strategy certain circumstances. A request for terminate a principal must be spelled will work with SBA leverage and make such a waiver has been received by out within the general partner’s appropriate suggestions to manage risk. MARAD. The vessel, and a brief wgreen on DSK2VPTVN1PROD with NOTICES organizational document and must not Risk mitigation strategies might include description of the proposed service, is be tied to events occurring under other making some investments in current pay listed below. agreements (e.g., a principal’s instruments, taking down less than a DATES: Submit comments on or before employment agreement with the full tier of leverage (i.e., leverage less March 3, 2016. management company). than 100% of Regulatory Capital), taking ADDRESSES: Comments should refer to E. Investment Advisor (‘‘Management leverage down later in the fund’s life, docket number MARAD–2016–0001. Company’’). Ownership of the lowering management expenses, and Written comments may be submitted by VerDate Sep<11>2014 15:21 Feb 01, 2016 Jkt 238001 PO 00000 Frm 00094 Fmt 4703 Sfmt 4703 E:\FR\FM\02FEN1.SGM 02FEN1

5512 Federal Register / Vol. 81, No. 21 / Tuesday, February 2, 2016 / Notices hand or by mail to the Docket Clerk, U.S.-flag vessels in that business, a DATES: Any comments on this inventory U.S. Department of Transportation, waiver will not be granted. Comments should be submitted in writing to the Docket Operations, M–30, West should refer to the docket number of contact person by March 3, 2016. Building Ground Floor, Room W12–140, this notice and the vessel name in order FOR FURTHER INFORMATION CONTACT: 1200 New Jersey Avenue SE., for MARAD to properly consider the Washington, DC 20590. You may also Michael Hokana, Office of Cargo and comments. Comments should also state send comments electronically via the Commercial Sealift, Maritime the commenter’s interest in the waiver Internet at http://www.regulations.gov. Administration, MAR–620, 1200 New application, and address the waiver All comments will become part of this Jersey Avenue SE., Washington, DC criteria given in § 388.4 of MARAD’s docket and will be available for 20590. Telephone 202–366–0760; email: regulations at 46 CFR part 388. inspection and copying at the above Michael.Hokana@dot.gov. address between 10 a.m. and 5 p.m., Privacy Act SUPPLEMENTARY INFORMATION: Pursuant E.T., Monday through Friday, except Anyone is able to search the to 46 CFR part 389 (Docket No. federal holidays. An electronic version electronic form of all comments MARAD–2008–0045) Determination of of this document and all documents received into any of our dockets by the Availability of Coastwise-Qualified entered into this docket is available on name of the individual submitting the Vessels for the Transportation of the World Wide Web at http:// comment (or signing the comment, if Platform Jackets, the Final Rule requires www.regulations.gov. submitted on behalf of an association, that the Maritime Administration FOR FURTHER INFORMATION CONTACT: business, labor union, etc.). You may publish a notice in the Federal Register Bianca Carr, U.S. Department of review DOT’s complete Privacy Act requesting that owners or operators (or Transportation, Maritime Statement in the Federal Register potential owners or operators) of Administration, 1200 New Jersey published on April 11, 2000 (Volume coastwise qualified launch barges notify Avenue SE., Room W23–465, 65, Number 70; Pages 19477–78). us of: (1) Their interest in participating Washington, DC 20590. Telephone 202– By Order of the Maritime Administrator. in the transportation and, if needed, the 366–9309, Email Bianca.carr@dot.gov. Dated: January 12, 2016. launching or installation of offshore SUPPLEMENTARY INFORMATION: As Thomas M. Hudson, Jr., platform jackets; (2) the contact described by the applicant the intended Secretary, Maritime Administration. information for their company; and, (3) service of the vessel NN59 is: the specifications of any currently [FR Doc. 2016–01874 Filed 2–1–16; 8:45 am] Intended Commercial Use of Vessel: owned or operated coastwise qualified BILLING CODE 4910–81–P ‘‘Teach sailing, take maritime heritage launch barges or plans to construct tourists, other user groups on the same. In addition, we are also seeking Sailboat’s geographic region intended DEPARTMENT OF TRANSPORTATION information on non-coastwise qualified operation.’’ (U.S.-flag) launch barges as well. Geographic Region: ‘‘Washington Maritime Administration Privacy Act State, Oregon, Alaska (excluding waters in Southeastern Alaska and waters north [Docket No. MARAD–2016 0006] Anyone is able to search the of a line between Gore Point to Cape electronic form of all comments Suckling [including the North Gulf Inventory of U.S.-Flag Launch Barges received into any of our dockets by the Coast and Prince William Sound]).’’ AGENCY: Maritime Administration, name of the individual submitting the The complete application is given in Department of Transportation. comment (or signing the comment, if DOT docket MARAD–2016–0001 at ACTION: Inventory of U.S.-flag launch submitted on behalf of an association, http://www.regulations.gov. Interested barges. business, labor union, etc.). You may parties may comment on the effect this review DOT’s complete Privacy Act action may have on U.S. vessel builders SUMMARY: The Maritime Administration Statement in the Federal Register or businesses in the U.S. that use U.S.- is updating its inventory of U.S.-flag published on April 11, 2000 (Volume flag vessels. If MARAD determines, in launch barges. Additions, changes and 65, Number 70; Pages 19477–78). accordance with 46 U.S.C. 12121 and comments to the list are requested. MARAD’s regulations at 46 CFR part Launch barge information may be found By Order of the Maritime Administrator. 388, that the issuance of the waiver will at http://www.marad.dot.gov/ships-and- Dated: January 12, 2016. have an unduly adverse effect on a U.S.- shipping/domestic-shipping/launch- T. Mitchell Hudson, Jr., vessel builder or a business that uses barge-program/. Secretary, Maritime Administration. REPORTED U.S.-FLAG LAUNCH BARGES Approx launch Length Beam DWT Coaswise Vessel name Owner Built capacity (ft.) (ft.) (L. T.) qualified (L. T.) 455 4 ....................... Crowley Marine 2009 400 105 19,226 18,766 X Services. 455 5 ....................... Crowley Marine 2009 400 105 19,226 18,766 X Services. 455 6 ....................... Crowley Marine 2009 400 105 19,226 18,766 X wgreen on DSK2VPTVN1PROD with NOTICES Services. 455 7 ....................... Crowley Marine 2009 400 105 19,226 18,766 X Services. 455 8 ....................... Crowley Marine 2010 400 105 19,226 18,766 X Services. 455 9 ....................... Crowley Marine 2010 400 105 19,226 18,766 X Services. VerDate Sep<11>2014 15:21 Feb 01, 2016 Jkt 238001 PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 E:\FR\FM\02FEN1.SGM 02FEN1


Document Created: 2016-02-02 00:31:39
Document Modified: 2016-02-02 00:31:39
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice.
DatesSubmit comments on or before March 3, 2016.
ContactBianca Carr, U.S. Department of Transportation, Maritime Administration, 1200 New Jersey Avenue SE., Room W23-465, Washington, DC 20590. Telephone 202-366-9309, Email [email protected]
FR Citation81 FR 5511 
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