Global Trade Alert

On March 22, 2016 the governor of Alabama signed into law a bill (HB34, now Act 2016-102) creating a port credit that aims to incentivize increased use of the state's port facilities. The port credit is set at $50 per twenty-foot equivalent unit (TEU) or $3 per net ton, multiplied by the following: (1) The port user's cargo volume in the year for which the commission has granted approval for the port user to claim the port credit, minus (2) The port user's base cargo volume.