There are numerous potential environmental and legal implications that arise with the Environmental Protection Agency and the U.S. Maritime Administration (MARAD) when a ship owner intends to sell a vessel to a foreign owner whether for continued use or recycling. There has been growing scrutiny of the international sale and recycling of vessels that can result in significant expense, lost time and negative publicity. The EPA has exercised authority under the Toxic Substances Control Act to limit the sale of vessels suspected of containing PCBs to foreign owners. According to the EPA, any such sale would violate the ban on exports of PCBs under the TSCA.
Clients must understand the issues when evaluating the sale or purchase of a vessel. Each vessel must be evaluated separately in advance of any transaction to assess potential costs, benefits, feasibility and risks associated with the ownership or sale of the vessel.
Overview of PCBs and Statutory Bans
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