MarAd studies Great Lakes U.S.-flag investment
The U.S. Maritime Administration awarded a $834,000 contract to ABS Consulting of Houston, along with Great Lakes Maritime Research Institute and other partners, to conduct a year-long study reviewing investment options to bolster the U.S.-flagged Great Lakes fleet and related regional maritime infrastructure.
'More extensive and stringent environmental regulations slated for the Great Lakes region will likely require additional private and public investment to upgrade and/or refit vessels, ports and other infrastructure to ensure new standards are met,' MarAd said in a statement on Friday.
The study will include an overview of existing market conditions, an inventory of the U.S.-flagged Great Lakes vessels and regional port infrastructure, an examination of private/public sector financing options, and a benefit-cost analysis for each of the investment options, the agency said.