Funding Overview
The Maritime Administration (MARAD) under the U.S. Department of Transportation has announced its intention to allot $4.8 million in funds for the United States Marine Highway Program (USMHP) in Fiscal Year 2024.
This allocation represents a notable decrease compared to the $12 million granted in FY 2023 and the $39 million provided in FY 2022, which included $25 million from President Biden’s Bipartisan Infrastructure Law and an additional $14.8 million from the 2022 Appropriations Act.
Focus of the USMHP
The USMHP focuses on initiatives aimed at promoting freight transportation via America’s navigable waterways, known for their efficiency compared to rail and road transport.
Since the inception of the Marine Highway Program, MARAD has awarded over $103 million to eligible public and private entities for marine highway services.
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Source: Safety4Sea
