Omnibus Bill Boosts Funding for USACE Projects

MarineLink.com
Wednesday, January 15, 2014
Michael J. Toohey, President/CEO, WCI

Upon review of the Consolidated Appropriations Act of 2014, Waterways Council, Inc. (WCI) is pleased with the FY 2014 Energy & Water Development Appropriations funding level of $5.467 billion, a $748 million increase over the FY 2013 post-sequester enacted level.

Within the Civil Works budget, the Construction General Account receives $1.656 billion and provides $163 million for the Olmsted Lock and Dam project. The legislation also establishes a cost-sharing formula for FY14 funds for Olmsted at 75% General Funds and 25% Inland Waterways Trust Funds (this significantly cost-overrun project had been funded at a 50%-50% cost-share). Other inland navigation construction projects received funding at the President’s requested level: Lower Mon 2, 3, 4, $1.96 million; and Lockport Major Rehabilitation, $11.4 million.

Of note is the allocation of $81.5 million in undesignated funding for inland navigation projects. The bill also includes an authorization for up to four new starts to be selected from inland navigation, flood control and storm damage prevention, and ecosystem restoration programs. One project must be from the ecosystem restoration portfolio, while up to two projects may be selected from the other categories. The Corps has 45 days after enactment to select projects for these additional funds, and the new starts. Very specific guidance is provided on use of the funds: a project must have received funding in one of the last three years; will reach a significant milestone or produce significant outputs in 2014; or is selected as a new start. The Corps must also develop a project rating system, and consider giving priority to projects benefitting the national economy or enhancing national, regional or local economic development. Factors such as job creation, economic impact on the local, regional and national economies if the project is not funded, and ability to obligate funds and complete the project, will also be taken into account.

The legislation also significantly increases spending for critical port and navigation channel improvements, with $1 billion provided from the Harbor Maintenance Trust Fund. This is a healthy increase from recent levels; only about half of the $1.5 billion in annual harbor tax monies had been expended for dredging and seaport projects. In addition to specific project allocations, the bill also provides $47 million in additional funds to navigation construction; $27 million added for navigation Operations & Maintenance (O&M); $128 million in additional O&M funds for deep draft ports and an additional $42 million for inland ports; additional $40 million for small ports O&M; and additional dredging funds of $5 million for Mississippi River Tributaries (MRT).

“WCI and its member companies appreciate the recognition in this budget of the importance of the Corps of Engineers’ civil works/navigation mission to the nation. Its treatment of Federalizing a portion of the Olmsted project to allow for funding to flow to other priority projects is noteworthy. The nation’s waterways and ports facilitate America’s prosperity through exports, jobs, access to world markets, and competitive advantage. Congress is to be commended for recognizing the great value of our inland waterways transportation sector,” said Michael J. Toohey, President/CEO, WCI.

waterwayscouncil.org
 

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

Finance

New Company Takes Over OW Tanker

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday.

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

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.

Environmental

MSC Approves SOLAS Amendments

SOLAS amendments to make IGF Code mandatory approved by Maritime Safety Committee   The International Maritime Organization’s (IMO) Maritime Safety Committee (MSC),

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

Stena Bulk Joins World Ocean Council

Stena Bulk reports it is the first Swedish shipping company to join the World Ocean Council (WOC), a global organization that converges a diverse range of maritime

News

ClassNK Approves Niigata Dual-fuel Engine Design

Classification society ClassNK has granted approval to the design of the new 28AHX-DF dual-fuel engine developed by Niigata Power Systems Co., Ltd. The new engine

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.

W&O, LESER Partner to Deliver Safety Relief Valves

W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, has partnered with

Government Update

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

EU: Ships Will Measure CO2 Emissions

Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor

Melbourne Box Pot Lining Up Bidders

Three of Australia's largest infrastructure funds plan to bid for the country's largest container terminal in a sale expected to fetch about A$5 billion ($4.27 billion) for Victoria state,

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Simulators 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: 0.2722 sec (4 req/sec)