Federal Ship Financing Guarantees

 

To provide competitive financing through the issuance of guarantees of debt issued for the purpose of financing or refinancing the construction, reconstruction or reconditioning of vessels built in United States shipyards and guarantee obligations for advanced shipbuilding technology and modern shipbuilding technology of a general shipyard facility located in the United States to stimulate commercial ship construction for domestic and export sales, encourage shipyard modernization, and support increased productivity.

Active 20.802 Maritime Administration, Department of Transportation F - Guaranteed/Insured Loans Fiscal Year 2016 In 2016 authority to guarantee over $9.58 billion of new guarantees. In FY 2016, a commitment to guarantee $373.7 million was approved for mortgage period financing to construct two Jones Act qualified LNG powered ConRo vessels.
Fiscal Year 2017 In 2017 authority to guarantee over $9.6 billion of new guarantees.
Fiscal Year 2018 In 2018 authority to guarantee over $9.6 billion of new guarantees.
Fiscal Year 2019 In 2019 authority to guarantee over $9.2 billion of new guarantees.
Fiscal Year 2020 In FY20 Title XI approved a loan guarantee application in the amount of $331,340,000.
Fiscal Year 2022 One new loan guarantee is expected to close within FY22.
Fiscal Year 2023 One application review complete with a recommendation pending. Federal Credit Reform Act, 46 U.S.C. 537 An individual with the ability, experience, financial resources, and other qualifications necessary for the adequate operation and maintenance of a vessel or an eligible shipyard. U.S. and foreign shipowners, or eligible U.S. shipyards. Financial history, economic feasibility of project, operating history, citizenship of applicant. Preapplication coordination is required. Informal preapplication meeting is recommended. This program is excluded from coverage under OMB Circular No. A-102. 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Application Form MA-163 must be filed with the Office of Marine Financing, Maritime Administration, 1200 New Jersey Avenue, S.E., Washington, DC 20590. Final approval granted by the Maritime Administrator. Contact the headquarters or regional location, as appropriate for application deadlines The Maritime Administration is required to approve or deny an application within two years of receiving a signed application. The deadline may be extended up to two years by applicant. Not applicable. Not applicable. Projects which involve the construction, reconstruction or reconditioning of vessels in the United States and advanced and modern shipbuilding technology for a general shipyard facility are eligible for Title XI financing. In order to receive approval, applicants must possess the necessary ability, experience, financial resources and other qualifications. The financial resources necessary for the project are determined by the project's costs and the financial position and resources available to the applicant. Additionally, all projects must be determined to be economically feasible before approval can be granted. Applications are generally processed with a view towards accommodating the time frame of each and every applicant. Guarantees are available to aid in financing of: (1) advanced shipbuilding technology and modern shipbuilding technology of a general shipyard facility located in the United States, and (2) vessels (including eligible export vessels) which are designed for research or for commercial use (a) in coastwide or intercoastal trade; (b) on the Great Lakes or on bays, sounds, rivers, harbors, or inland lakes of the United States; (c) in foreign trade; (d) as an ocean thermal energy conversion facility or plantship; (e) as floating drydocks, or (f) with respect to an eligible export vessel, in world-wide trade. Any vessel of not less than 5 net tons, (other than a towboat, barge, scow, lighter, car float, canal boat or tank vessel of less than 25 gross tons) is eligible. Not applicable. In accordance with the provisions of 2 CFR 200, Subpart F - Audit Requirements, nonfederal entities that expend financial assistance of $750,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Non-Federal entities that expend less than $750,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in 2 CFR 200.503 See "Index of Current Regulations," Maritime Administration. Financial reports as per contract. Annual reports regarding citizenship, no default certificates, vessel requirements. Statutory formula is not applicable to this assistance listing.

Matching requirements are not applicable to this assistance listing.

MOE requirements are not applicable to this assistance listing. Assistance provided as ship/shipbuilding technology is constructed and/or throughout life of ship/shipbuilding technology, but in any case not to exceed 25 years from vessel delivery or economic life of the assets being financed. Guarantee of private-sector debt. See Maritime Administration Regional Offices listed in Appendix IV of the Catalog. David M. Gilmore
1200 New Jersey Avenue, S.E.
Washington, DC 20590 US
david.gilmore@dot.gov
Phone: (202) 366-2118 http://www.marad.dot.gov 69-1752-0-1-403 (Guaranteed/Insured Loans) FY 22$51,458,000.00; FY 23 est $200,000,000.00; FY 24 est $200,000,000.00; FY 21$0.00; FY 20$325,530,000.00; FY 19$365,000,000.00; FY 18$0.00; FY 17$394,501,000.00; FY 16$3,135,000.00; - Historically projects have ranged from less than $1 million to several hundred million. (Average is not entered, because it would not be typical of the breadth of the program.) 46 CFR Part 298. Booklet entitled, "Federal Ship Financing Program." Fiscal Year 2016 In FY 2016 a guarantee is expected to be approved for mortgage period financing to construct two Jones Act qualified LNG powered ConRo vessels. In FY 2016, a commitment to guarantee $373.7 million was approved for mortgage period financing to construct two Jones Act qualified LNG powered ConRo vessels.
Fiscal Year 2017 3000000
Fiscal Year 2019 Two container vessels for operation in the continental U.S. to Hawaii liner trade.
Fiscal Year 2022 Provided guarantee financing for 3 Linehaul Towboats and 17 Rake and Box Tank Barges