Cargo preference applied to Dept. of Energy loan guaranty program (3/8)

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USA MaritimeOn March 7, USA Maritime released the following statement regarding the application of the Cargo Preference Act to the U.S. Department of Energy’s loan guaranty program:

 

“USA Maritime applauds the application of cargo preference requirements by the U.S. Department of Energy to imported cargoes purchased with funds made available through its loans guaranty programs. While the Department of Energy has agreed to apply cargo preference as a matter of principle, partnership between government and industry will be essential to ensure its successful implementation. USA Maritime pledges that it will work with the Department of Energy and the U.S. Maritime Administration to identify a strong and mutually beneficial approach to cargo preference.”

 

The Cargo Preference Act of 1954 provides vital support to a fleet of privately owned U.S.-flag commercial vessels. These vessels have been instrumental to the cost efficient supply and support of our troops abroad and the maintenance of a pool of trained mariners essential to support the U.S. Government’s sealift objectives. The privately owned U.S.-flag merchant marine has transported over 90 percent of the equipment and supplies used in the conflicts in Iraq and Afghanistan.

 

The new DOE policy issued on March 1 appeared as an update to the DOE website, which previously had stated that the Act did not apply to such guarantees.

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