Latest news with #MerchantMarine
Yahoo
2 days ago
- Business
- Yahoo
House investigator Yi to lead Marad
The U.S. Department of Transportation has tabbed Sang H. Yi as acting head of the Maritime Administration. Prior to his appointment, Yi spent 15 years working Congress, most recently as director of investigations for the House of Representatives Committee on Homeland Security. Marad administers financial programs to develop, promote, and operate the U.S. Maritime Service and Merchant Marine. In an announcement, Marad said Yi will help advance the Trump Administration's announced initiatives on shipbuilding and maritime operations, including the Merchant Marine. 'Acting Administrator Yi will lead Marad's efforts to maintain and modernize the vital infrastructure that supports both commercial shipping and military sealift operations,' the agency said in a release. 'He will also guide the department's initiatives to strengthen the maritime workforce, foster innovation and expand cross-industry collaboration to build a more robust and prepared maritime transportation system.' Prior to his congressional career, Yi worked in intelligence gathering. He is a graduate of the U.S. Merchant Marine Academy, and earned a law degree from the George Washington University Law School. Find more articles by Stuart Chirls here. Early peak coming as trans-Pacific container rates double Retailers see cargo surge coming WATCH: Four crew missing after container ship explosion off coast of India Trac Intermodal preps 200K chassis for China container surge The post House investigator Yi to lead Marad appeared first on FreightWaves.
Yahoo
30-04-2025
- Business
- Yahoo
Senator Young introduces legislation to 'Make American Ships Again'
HENDERSON, Ky. (WEHT) – U.S. Senators Todd Young and Mark Kelly re-introduced the 'Shipbuilding and Harbor Infrastructure for Prosperity and Security (SHIPS) for America Act,' which Sen. Young's office says is 'comprehensive' legislation to revitalize the country's shipbuilding and commercial maritime industries. Lawmakers say there are currently 80 U.S.-flagged vessels in international commerce while China has 5,500. The 'SHIPS for America Act' aims to close this gap and boost the U.S. Merchant Marine by establishing national oversight and consistent funding for U.S. maritime policy, making U.S.-flagged vessels commercially competitive in international commerce by 'cutting red tape,' rebuilding the U.S. shipyard industrial base and expanding and strengthening mariner and shipyard worker recruitment, training and retention. Officials say Sen. Young and Kelly originally introduced the 'SHIPS for America Act' in December 2024. Since the introduction, the urgency to boost American shipbuilding has emerged as a priority of bipartisan consensus this year, particularly after the Office of the U.S. Trade Representative revealed the findings of its investigation into China's shipbuilding dominance and President Trump's signing of a shipbuilding executive order. 'America has been a maritime nation since our founding, and seapower was a significant contributor to our rise to being the most powerful nation on earth. Unfortunately, the bottom line now is America needs more ships. Shipbuilding is a national security priority and a stopgap against foreign threats and coercion. Our bill will revitalize the U.S. maritime industry, grow our shipbuilding capacity, rebuild America's shipyard industrial base, and support nationwide workforce development in this industry. This legislation is critical to our warfighting capabilities and keeping pace with China,' said Senator Young, a U.S. Naval Academy graduate. Senator Young introduces bill to strengthen mineral mapping According to Sen. Young's office, U.S. Representatives Trent Kelly and John Garamendi will introduce companion legislation in the House on Thursday. Officials say, more specifically, the 'SHIPS for America Act' would: Coordinate U.S. maritime policy by establishing the position of Maritime Security Advisor within the White House, who would lead an interagency Maritime Security Board tasked with making 'whole-of-government' strategic decisions for how to implement a National Maritime Strategy. The bill also establishes a Maritime Security Trust Fund that would reinvest duties and fees paid by the maritime industry into maritime security programs and infrastructure supporting maritime commerce. Establish a national goal of expanding the U.S.-flag international fleet by 250 ships in 10 years by creating the Strategic Commercial Fleet Program, which would facilitate the development of a fleet of commercially operated, U.S.-flagged, 'American crewed' and domestically built merchant vessels that can 'operate competitively' in international commerce. Enhance the competitiveness of U.S.-flagged vessels in international commerce by establishing a 'Rulemaking Committee on Commercial Maritime Regulations and Standards' to cut through the U.S. Coast Guard's 'bureaucracy and red tape' that 'limits the international competitiveness' of U.S.-flagged vessels, modify duties to make cargo on U.S.-flag vessel's more competitive, requiring that government-funded cargo move aboard U.S.-flag vessels and requiring a portion of commercial goods imported from China to move aboard U.S.-flag vessels starting in 2030. Expand the U.S. shipyard industrial base, for both military and commercial oceangoing vessels, by establishing a 25 percent investment tax credit for shipyard investments, transforming the Title XI Federal Ship Financing Program into a revolving fund and establishing a Shipbuilding Financial Incentives program to support innovative approaches to domestic ship building and ship repair. Accelerate U.S. leadership in next-generation ship design, manufacturing processes, and ship energy systems by establishing the U.S. Center for Maritime Innovation, and supporting regional hubs for maritime innovation across the country by establishing a Maritime Prosperity Zone program. Make historic investments in maritime workforce by supporting a Maritime Workforce Promotion and Recruitment Campaign, allowing mariners to retain their credentials through a newly established Merchant Marine Career Retention Program, investing in long-overdue infrastructure needs for the U.S. Merchant Marine Academy, and supporting State Maritime Academies and Centers for Excellence for Domestic Maritime Workforce Training and Education. The bill also makes long-overdue changes to streamline and modernize the U.S. Coast Guard's Merchant Mariner Credentialing system. According to Sen. Young, the legislation will be introduced in two pieces in the Senate: the 'SHIPS for America Act' and the 'Building SHIPS in America Act.' A section by section of the legislation can be viewed below. SHIPS-for-America-Act_Section-by-Section_4.30.25_pdfDownload 'Eyewitness News. Everywhere you are.' Copyright 2025 Nexstar Media, Inc. All rights reserved. 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