Applicable only if the vessel or floating structure originates from a CARICOM member state and meets the rules of origin criteria.
Additional Information
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Last updated: 1 year ago
News and Updates
Recent News
Increase in Vessel Scrapping Trade Between US and Saint Kitts and Nevis
Recent data shows a notable rise in the export of vessels and floating structures for scrapping from the United States to Saint Kitts and Nevis, driven by favorable scrap metal prices and demand for recycled materials.
2023-10-15
Impact: This trend is likely to boost bilateral trade in the short term, with potential growth in recycling industries in Saint Kitts and Nevis, though environmental regulations could pose challenges.
US Shipbreaking Firms Eye Caribbean Markets
Several US-based shipbreaking companies have started negotiations with partners in Saint Kitts and Nevis to expand scrapping operations, citing lower operational costs and proximity to shipping lanes.
2023-09-22
Impact: This could lead to increased trade volumes under HS Code 890800, but may require stricter oversight to ensure compliance with international environmental standards.
Saint Kitts and Nevis Upgrades Scrapping Facilities
The government of Saint Kitts and Nevis has invested in modernizing its shipbreaking yards to handle larger vessels from the US, aiming to position itself as a key player in the Caribbean scrapping market.
2023-08-30
Impact: Improved infrastructure may attract more US vessels for scrapping, potentially increasing trade under this category, though it hinges on maintaining competitive pricing and regulatory compliance.
Policy Updates
US Updates Export Regulations for Scrapped Vessels
The US Department of Commerce has introduced new documentation requirements for exporting vessels and floating structures for breaking up (HS Code 890800), aiming to ensure compliance with environmental and safety standards.
Date: 2023-10-01
Saint Kitts and Nevis Implements Stricter Environmental Rules
Saint Kitts and Nevis has enacted new environmental regulations for shipbreaking activities, mandating waste management plans and pollution controls to align with international maritime standards.
