Maritime Administration releases 2023 budget

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The Maritime Administration (MARAD) recently released its Fiscal Year 2023 budget proposal, requesting $906.7 million.

When combined with advance appropriations from the Bipartisan Infrastructure Law, MARAD would have nearly $1.4 billion in funding,

“President Biden’s budget request for the Maritime Administration would continue to strengthen resiliency in the maritime transportation system that is essential to support our economic growth, our supply chain, and our national security,” Acting Administrator Lucinda Lessley said. “MARAD’s budget request would fund essential sealift capacity, advance our effort to replace aging sealift vessels, and expand our efforts to address climate change. It would also continue critical investments to address long-standing challenges at the U.S. Merchant Marine Academy.”

The budget request includes $318 million for the Maritime Security Program, $230 million for the Port Infrastructure Development Program, $99.7 million to continue priority investments to strengthen the U.S. Merchant Marine Academy, $92.3 million for MARAD’s operational needs, $87.8 million for academic operating expenses to support an estimated 1,010 midshipmen, $77.7 million for State Maritime Academies Operations, $60 million for the Tanker Security Program, $20 million for the Assistance to Small Shipyards grant program, $6 million for the Ship Disposal Program, and $3 million for the Maritime Guaranteed Loan Program.