Federal Register #2026-17636

Regulatory Revision of MARAD Title XI Vessel and Shipyard Financing Program

This opportunity centers on regulatory changes to the Maritime Administration's (MARAD) Title XI Vessel and Shipyard Financing Program: - Government Buyer: - Maritime Administration (MARAD), U.S. Department of Transportation - Office of Marine Financing - No products or OEMs are being procured; this is a regulatory revision, not a purchasing action - Program supports financing guarantees for U.S.-flagged vessel construction, reconstruction, repair, and shipyard modernization - Key updates: - Modernizes regulations and aligns with current federal credit standards - Reduces application fees from $5,000 to $1,000 - Streamlines application processes and clarifies credit standards, eligibility, and fees - Prioritizes applications for vessels of national interest - No part numbers, quantities, or specific vendors are mentioned - Notable requirements: - Updated application procedures - Fee reductions - Restructuring of program fees to encourage greater participation - Focus on accessibility and correction of legal citations - No procurement of goods or services; no OEMs or vendors involved

Description

This interim final rule revises the Maritime Administration (MARAD) regulations implementing the Vessel and Shipyard Financing Program (Title XI Program). The revisions update financial and programmatic requirements, implement statutory changes, align the program with modern Federal credit best practices, correct legal citations, improve accessibility, and remove obsolete references. The rule also streamlines the regulations by removing 14 of 34 sections. Comments on the rule are requested by October 27, 2026.

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