MarAd Revises Maritime Security Program

The U.S. Maritime Administration (MARAD) is revising and adopting as final its prior interim rule implementing the Maritime Security Program (MSP). Under MSP, owners and operators of active, commercially viable vessels are eligible for subsidies in return for making those vessels available to meet national defense and other security needs. The revisions consist mostly of clarifications of the interim rule. The final rule comes into effect on November 21. Source: HK Law