WORKING GROUP TO EXPLORE FUTURE MSP FUNDING
A Working Group on Maritime Policy, chaired by former Maritime Administrator Albert J. Herberger will convene soon to focus on forming industry strategy to reauthorize the Maritime Security Program, which supports the operation of 47 U.S.-flag liner vessels.
Enacted by Congress in 1995, funding for the 10-year program will expire in fiscal year 2005.
The working group will explore ways of overcoming a 25 to 40 percent cost advantage enjoyed by foreign-flag shipping, Herberger said. “We need to look to improve the stability of the investment climate for new MSP ships.”