Federal Budget Released

Tuesday, February 08, 2005
The Office of Management and Budget (OMB) released the President’s 2006 Budget. The Departments of Defense and Homeland Security generally did well. Other departments and agencies are slated for significant cuts. The Coast Guard’s budget would be increased 9.9%. The budget for the Office of Border and Transportation Security (which includes the Customs and Border Protection) also would be increased 9.9%. The budget for the St. Lawrence Seaway Development Corporation would remain unchanged, but only if Congress enacts a proposal to collect user fees. The budget for the Maritime Administration would be cut by 3%, with funding for the Title XI loan guarantee program being eliminated. The budget of the U.S. Army Corps of Engineers for operation and maintenance would be increased by 1.8%. Please bear in mind that this is merely a budget request and a lot can and will happen before monies are actually appropriated. (HK Law)

Navy

Ingalls Secures Design Work for US Navy’s New LX(R) Ships

Huntington Ingalls Industries (HII) announced that its Ingalls Shipbuilding division has been awarded a $13.7 million contract (with incremental funding) to perform contract design effort for the U.

This Day In Naval History: August 31

1842 - Congress replaces the Board of Navy Commissioners, a group of senior officers who oversee naval technical affairs, with the five technical Bureaus, ancestors of the Systems Commands.

Long Beach Port Acquires 125 Acres for Cargo Ops

U.S. Navy, Maritime Administration and California Environmental Protection Agency representatives joined City and Port officials today to commemorate the approval

Finance

KfW IPEX-Bank Boosts its Presence at SMM

In an interview the departing head of the KfW IPEX-Bank Maritime Industries department, Dr. Carsten Wiebers offers insight into the facets of international ship

Hyundai Merchant Marine to buy Hanjin's 'Good' Assets

South Korea's financial regulator said on Wednesday that Hyundai Merchant Marine Co Ltd will seek to acquire healthy assets of troubled shipper Hanjin Shipping Co Ltd.

APM Terminals to invest $70 mln in Port Elizabeth Terminal

The Port of New York and New Jersey is the largest port on the US East Coast and third largest in the United States with 6.37 million TEU handled in 2015.  In 2014,

 
 
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