2001 Maritime
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April 9, 2001

Budgetary crumb for Title XI
The initial Bush Administration Budget Blueprint threatened to zero out the Title XI ship mortgage guarantee appropriation for FY 2002. The actual budget request for the U.S. Maritime Administration, published today, allocates $4 million for the program. It's in there purely to cover administration, however,

The Bush Budget estimates that $10 million in carryover balances will be available in FY2002. That translates into guarantees for about $200 million of shipbuilding orders.

All of this, of course, is way, way less than what shipbuilders have been seeking. Some of the industry's supporters in Congress have been pressing for $100 million to be appropriated. There are indications that a more modest $50 million might be attainable.

MSP TO BE TRANSFERRED?

Continuing what some see as an Office of Management and Budget vendetta against the U.S. Maritime Administration, the Budget document declares that "Beginning in the 2002, the Maritime Security Program will be transferred to the Department of Defense." That, in fact, might require legislation to accomplish.

The MSP provides direct payments to participating U.S.-flag ship operators who provide intermodal sealift support to the Department of Defense in times of war or national emergency.

Click here for details of our upcoming
GULF OFFSHORE 2001 event
Biloxi, MS, June 5 & 6

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