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Title XI

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.

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