Coast Guard Triples Damage Threshold for Offshore Accident Reports
Published Date: 6/30/2026
Rule
Summary
Starting July 30, 2026, companies working on the Outer Continental Shelf must report marine accidents based on who’s involved, not just where they happen. The rule raises the damage cost that triggers a report from $25,000 to $75,000, saving businesses money and making rules clearer and fairer. This change cuts industry costs by over $10,000 in 10 years and aligns U.S. rules with international standards for offshore activities.
Analyzed Economic Effects
4 provisions identified: 1 benefits, 3 costs, 0 mixed.
Foreign floating OCS units now follow vessel rules
Starting July 30, 2026, foreign mobile offshore drilling units (MODUs), floating OCS facilities (FOFs), and vessels engaged in Outer Continental Shelf (OCS) activities (about 649 foreign-flagged entities) must report marine casualties under 46 CFR part 4 the same as U.S. vessels. This change aligns reporting standards between U.S. and foreign floating offshore units.
Net cost to foreign industry quantified
The Coast Guard estimates this rule creates a net cost to foreign industry of $94,977 over 10 years (annualized $13,523), including increased reporting costs of $107,218 over 10 years partly offset by $12,241 in threshold-related savings. This reflects the new application of 46 CFR part 4 to foreign floating units.
New reporters must follow 46 CFR part 4 procedures
Entities newly subject to 46 CFR part 4 must follow part 4 reporting procedures: immediate initial notification as required and a written CG-2692 report within 5 days, and include alcohol/drug testing determinations per 46 CFR 4.05-12. These reporting practices apply once the rule is effective on July 30, 2026.
Property damage reporting threshold raised
Beginning July 30, 2026, the property damage dollar threshold that triggers a marine casualty report for fixed OCS facilities is raised from $25,000 to $75,000. This reduces the number of small-damage reports fixed OCS facility owners must file.
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Key Dates
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