House Bill proposes $2 billion for short sea shipping
The U.S. Maritime Administration said legislation approved by the House Transportation and Infrastructure Committee Thursday will establish a new program to promote short sea shipping to move cargo on the Great Lakes and along the country's sea coasts.
Title IV of the bill proposes “loan guarantees of up to $2 billion will help marine operators and shippers construct a new class of cargo vessels suitable for short sea shipping,” Maritime Administrator Sean T. Connaughton said in a statement.
The proposed legislation would “reduce global warming through greater transportation efficiencies and conservation initiatives. The major freight goods movement components of House Resolution (HR) 2701, the Transportation Energy Security and Climate Change Mitigation Act of 2007, will integrate the marine highway into our Nation’s overall intermodal transportation system,” he said.