MarAd seeks comment on Title XI loan guarantees

The following statement was issued by the U.S. Maritime Administration:

(WASHINGTON) — The Maritime Administration is asking for public comment on a proposed policy regarding the factors for obtaining loan guarantees through the Maritime Guaranteed Loan Program, Title XI. 

Title XI is a discretionary program that provides loan guarantees for vessel construction in U.S. shipyards, helping to create maritime-related jobs. The proposed policy is intended to further promote a modernized and more environmentally sustainable marine transportation industry by including the consideration of various environmental initiatives, such as converting vessels to use alternate fuels, in its evaluation of Title XI loan guarantee applications.

MarAd will consider the comments received on this proposed policy in formulating a final notice. The public is invited to submit comments through Docket Number MARAD-2014-0011 during the 30-day public comment period, which will open on Feb. 24 and expire on March 26.

By Professional Mariner Staff