MARAD Revised Maritime Security Program (MSP) for US flag vessels

The U.S. Maritime Security Act of 1996 created the Maritime Security Program (MSP) as a method of providing financial assistance to U.S.-flag vessel operators. Through the MSP, the government provides vessel operators with monthly payments (totalling $2.1 million annually) to offset the higher costs of operating a vessel under the U.S. flag. In return, vessel operators enrolled in the MSP guarantee the availability of their vessels and associated services and resources to the Department of Defense in times of war, national emergency, or heightened sealift operations.

The Maritime Administration’s (MARAD) revised rule becomes effective on 1 October 2004. . Click here for details. Applications for enrolment of vessels in the MSP for up to 60 vessels are due by 15 October 2004

Contact: Dragos Rauta