U.S. Ports Laud Additional Federal Security Grants

Wednesday, December 10, 2003
U.S. ports seeking federal grants for 1,065 security enhancement measures learned today that 442 of the plans will be funded. The news came as the Transportation Security Administration (TSA) named recipients of $179,025,900 in the third round of federal grants for port security. Applications totaling over $987 million had been submitted by ports across the country seeking funding assistance in order to comply with new U.S. Coast Guard security regulations that take effect next year. The grants are a combination of $104 million in FY '02 funds and a portion of the $125 million in FY '04 appropriations for port security. "We applaud TSA for providing a considerable portion of the 2004 appropriation in this round of grants to help secure America's ports," stated AAPA President Kurt Nagle. "It is vital for our nation's security that these investments in port security be made in a timely manner." Nagle says federal assistance is key to ensuring ports can address enhanced security demands. "Public ports' financial resources pale in comparison to the enormous needs, yet America cannot afford for port security to go underfunded. While the latest round of funding is significant, it covers only about 18 percent of the costs ports identified in the security projects set forth in their recent applications." Nagle said ports have already spent hundreds of millions of dollars to boost security since 9/11, and expenses continue to rise. According to U.S. Coast Guard estimates, ports will need to spend $5.4 billion on enhanced security measures over the next ten years to comply with new federal regulations mandated by the Maritime Transportation Security Act (MTSA), with $1.125 billion of that to be invested in the first year alone. To help ports implement these heightened requirements MTSA calls for a federal grant program for port security. Since September 11, 2001, Congress has appropriated three rounds of TSA port security grants totaling $513.2 million and one $75 million grant from the Office of Domestic Preparedness. However, substantially greater resources are needed. For FY'05 AAPA urges a federal funding level of $400 million for TSA's port security grant program to cost-share with local port authorities and facility operators to make the enhancements required under the new regulations. While ports are challenged to manage security expenses of unprecedented magnitude, Nagle said they must simultaneously carry out their vital role as America's commerce catalyst. With 95 percent of international trade passing through U.S. ports and trade projected to more than double by 2020, ports are finding it necessary to spend about $1.7 billion per year on operations and another $1.5 billion annually on capital improvements to support burgeoning trade growth. "International trade has been growing steadily each year, with strong benefits to the American economy," said Nagle. "But that can only continue if ports are prepared to handle it - and that means investing now in both the immediate and long-range future. In terms of security, both physical and economic security are paramount to the country's wellbeing. America simply can't afford to compromise one for the other."

People & Company News

Hellenic Petroleum Profits Rise on Higher Exports

Hellenic Petroleum, Greece's biggest oil refiner, posted a 20 percent rise in second-quarter core profit on Thursday, with higher exports offseting lower refining margins.

MN100: TPG Marine Enterprises, LLC

The Company: TPG Marine Enterprises, LLC is an operations, logistics and consulting company that specializes in all aspects of cargo movement on the Inland Waterways System.

MN100: R.W. Fernstrum & Company

The Company: R.W. Fernstrum & Company set the standard in marine heat exchangers over 65 years ago, building a reputation focused on innovation. Today, its commitment is to continual improvement,

Ports

China COSCO Falls to H1 Net Loss

China COSCO Holdings Co Ltd fell to a first-half loss hurt by a persistent slump in the global container market, the world's fourth largest container shipper said on Thursday.

New Crane Orders for Huisman

Huisman has secured new crane contracts with a total value of around 300 million Euro from various major offshore, shipping and wind farm installation contractors: •

Cosco Eyes Spanish port of Algeciras

Algeciras Bay Port Authority in southern Spain has put up a tender for its third container terminal, and China's Cosco Shipping Ports is already being mentioned as a fore runner candidate,

 
 
Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | 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: 0.1101 sec (9 req/sec)