Foreign corporations earning income from coastwise shipments under the Jones Act waiver must report that income to the Internal Revenue Service and cannot claim tax exclusions normally available for international shipping, according to new IRS guidance.

Diversified Marine, Bourg, La., has completed construction of the Edwin Rider, a 72' twin-screw inland towboat built for Vulcan Materials, Birmingham, Ala., with a Mitsubishi propulsion package supplied by Laborde Products, Covington, La.