SENATE CLEARS MARAD FUNDING; OKs FOREIGN SHIPS PURCHASE FOR U.S. FLAG

SENATE CLEARS MARAD FUNDING; OKs FOREIGN SHIPS PURCHASE FOR U.S. FLAG    The U.S. Senate has cleared legislation authorizing appropriations for Maritime Administration programs during the fiscal year 2001.
   The legislation also establishes a one-year window for operators to acquire or contract for new bulk or breakbulk vessels from foreign shipyard, as long as they are registered under the U.S. flag. Vessels acquired during the one year period will not be required to wait three years to carry government-impelled cargo.
   The legislation provides $80.2 million for MarAd’s administrative costs and for running the U.S. Merchant Marine Academy and State maritime academies.
   The legislation also increases authorization for Title XI shipbuilding loans from $2 million to $50 million.
      The $96 million for the agency’s Maritime Security Program, covering the operation of 47 U.S.-flag liner vessels, does not require authorization, but does require congressional approval when MarAd’s overall budget comes before the House and Senate.