MarAd says $10M now available for loans to small shipyards

The following is the text of a press release issued by the U.S. Maritime Administration:
(WASHINGTON) — The U.S. Maritime Administration today announced that $9.98 million in federal funding is now available to help enhance the efficiency and competitiveness of qualified small U.S. shipyard. The grants are available for capital and related improvements projects that foster efficiency, and competitive operations; quality ship construction, repair and reconfiguration; and employee training projects. Grants are limited to no more than 75 percent of the estimated improvement costs. Application packages must be received by 5 p.m. on January 17, 2012. Additional information is available in the Federal Register at or by contacting the Maritime Administration, Office of Shipyards and Marine Engineering, Room W21-318, 1200 New Jersey Avenue SE, Washington DC 20590, (202) 366-5737.
By Professional Mariner Staff