US Maintains Grants For Small Yards


Source: Everett Ship Repair

Keeping faith with the country’s multifarious, smaller shipbuilding and shipbuilding companies, the US Maritime Administration (MARAD) has announced a new round of funding of nearly $21m for the sector.

Awards have been made to 27 yards across 20 states under the 2023 allocation from the Small Shipyard Grant Program, which provides financial assistance for projects that enable companies to modernise, increase productivity, strengthen international competitiveness, and expand job opportunities. The capital expenditure and equipment upgrades encompassed by the programme relate to vessel repair and reconfiguration as well as to new construction.

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