MarAd extends deadline for slot in Maritime Security Program

MarAd extends deadline for slot in Maritime Security Program The U.S. Maritime Administration has extended a deadline for applications for an application for an open slot in the Maritime Security Program from Nov. 3 to Nov. 18, “in order to provide sufficient time for interested parties to prepare applications.”
      MARAD said the slot arose when Overseas Shipholding Group requested to reflag the “Overseas Ambermar,” a tanker, to Marshall Island registry. Twelve companies have requested applications.
      The program provides financial assistance to operators of U.S.- flag vessels in foreign commerce that meet certain qualifications.   
Payments to participating operators are limited to:
      ' $2.6 million per ship per year for fiscal years 2006 through 2008.
      ' $2.9 million per ship per year for fiscal years 2009 through 2011.
      ' $3.1 million per ship per year for fiscal years 2012 through 2015.
      Payments are subject to annual appropriations. Participating operators are required to make their commercial transportation resources available upon request by the Secretary of Defense during times of war or national emergency.