You are here

Title XI

With DOT support, maritime industry leans forward on environmental stewardship

President Obama has taken unprecedented action to build the foundation for a clean energy economy, tackle the issue of climate change and protect our environment.  The maritime industry understands and embraces this thinking not only because it makes sense, but also as it will be essential to future viability of marine transportation.   The industry continues to take a leading role in environmental responsibility and the Maritime Administration (MARAD) is helping them chart the course.

With two recently released reports examining storage and bunkering options for Liquid Natural Gas (LNG) and providing vital data on natural gas emissions, MARAD’s Office of Environment and Safety is providing information the industry needs to transition to cleaner burning fuels. And by identifying potential challenges and recommending best practices and new standards, MARAD is working to streamline the development of a transportation network that supports the integration of natural gas as a marine fuel.

Yesterday, we took another step forward with approval of a $324.6 million Title XI loan guarantee to TOTE Shipholdings, Inc., a 2014 White House Transportation Champion of Change, to finance construction of two container ships that will use LNG as propulsion fuel...

MARAD Shipbuilding Loan Guarantee Means Good Jobs, New Ships Built in the U.S.

Having lived so much of my life at sea, I have a special appreciation for seeing a ship rumble down the boards and splash as it first hits the water, launched very much the same way as it has been done throughout history.  (I’ll just need to remember to stand a little further back from the splash next time.) So watching the launch of the Bravante IX, built in a U.S. shipyard, I was especially pleased to know that investments made by the Maritime Administration (MARAD) just three years ago had brought this ship to this moment.

The investment in and upgrading of our infrastructure can be an economic game changer, increasing competiveness and fostering long term job creation.  Over the last five years, the work of two MARAD grant and financing programs have come together at Eastern Shipbuilding of Panama City, FL, to provide a perfect example of this principle at work.  So much so, I went there to see it myself.

The Bravante IX is the fifth and final platform supply vessel ordered from Eastern Shipbuilding by Boldini S.A, a Brazilian company.  These U.S.-manufactured vessels will provide service in deepwater oil fields off the coast of South America and were made possible in part by a $241 million Department of Transportation Title XI loan guarantee. What’s more, two MARAD Small Shipyard grants, totaling $3.4 million awarded to Eastern Shipbuilding, allowed for upgrades to their facilities, making the company a more attractive choice to Boldini for vessel construction...

Photo of the Bravante IX splashing into the water
Bravante IX launch; Scott Pittman Photography

News Digest DOT 17-14

MARAD Requesting Comment on Title XI Evaluation Criteria.  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.