MarAd Enhancement Act Moves Along

Friday, July 22, 2005
The U.S. Senate Committee on Commerce, Science, and Transportation unanimously reported The Maritime Administration Enhancement Act of 2005. The bill establishes a grant program to assist small shipyards for capital improvements and improve maritime training programs for small communities largely served by the maritime industry.

The bill also allows the Maritime Administration (MarAd) to use a portion of funds for the operation of the National Defense Reserve Fleet (NDRF) and proceeds recovered from vessel accident litigation and arbitration to be placed in a reserve fund to cover the costs of vessel maintenance, repairs, and replacements.

In addition, the Maritime Administration Enhancement Act requires students entering the Merchant Marine Academy to meet the same physical and mental standards required by the Department of Defense, and academy cadets would be permitted to train on certain foreign flagged vessels determined to be in the interest of national security. The bill clarifies the role of the Global Maritime and Transportation School which offers maritime education and training programs to public and private professionals located on the campus of Kings Point, home of the Merchant Marine Academy. Subject to appropriations, the bill increases the authorized payments for cadets enrolled to State Regional Maritime Academies to $500,000 by fiscal year 2008, easing the burden on states with maritime academies to train cadets more effectively.

The measure provides MARAD the flexibility to decide on the timing of ship and title transfer to foreign governments, U.S. territories, and States. Such a transfer to States is not permitted under current law. The Maritime Administration Enhancement Act also clarifies the roles of the Maritime Administrator and the Department of Defense in the loan guarantee process overseen by the Maritime Administration, and streamlines the cumbersome application process.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

MacGregor Deck Equipment for Intership's Eco-bulkers

MacGregor, part of Cargotec, has secured a deck equipment contract from New Times Shipyard in China for Intership Navigation Co Ltd.'s three new 36,500 dwt laker-class bulk carriers.

Seacor Takes Delivery of 10,800 HP Crewboat

Seacor Marine is building ever larger and more powerful mono-hull crew/supply boats. The first of these to be delivered is the 202x34-foot Alex F. McCall with some very impressive statistics.

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

Offshore

Fourth Rig Delivered to Perforadora Central

Keppel AmFELS LLC, a wholly owned US subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered the jackup rig, Coatzacoalcos, to Mexico’s Central Panuco S.

Woodside to Pick up Moroccan Acreage

Woodside advises that it has entered into a contract for an exclusive Reconnaissance Licence (RL) with the Office National des Hydrocarbures et des Mines, the

Strategy Can Maximize UKCS potential

Companies operating in the North Sea require a cultural shift to make the most of the its potential, according to a new report from Deloitte, the business advisory firm.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1253 sec (8 req/sec)