Title XI Financing
The Federal Ship Financing Program provides for a full faith and credit guarantee by the United States
Government to promote the growth and modernization of the U.S. merchant marine and U.S. shipyards.
The Program, established pursuant to Title XI of the Merchant Marine Act, 1936, as amended (Act),
provides for a full faith and credit guarantee by the U.S. Government of debt obligations issued by
(1) U.S. or foreign shipowners for the purpose of financing or refinancing either U.S. flag vessels
or eligible export vessels constructed, reconstructed or reconditioned in U.S. shipyards and (2)
U.S. shipyards for the purpose of financing advanced shipbuilding technology and modern shipbuilding
technology (Technology) of a privately owned general shipyard facility located in the U.S. The
Program is administered by the Secretary of Transportation acting by and through the Maritime
Administrator (Secretary). Under the Federal Credit Reform Act of 1990, appropriations to cover the
estimated costs of a project must be obtained prior to the issuance of any approvals for Title XI
financing.
Additional information and applications may be obtained from:
U.S. Department of Transportation
Maritime Administration
Office of Shipyards and Marine Financing
1200 New Jersey Avenue, SE
Washington, DC 20590
(202) 366-5744
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Program Statistics
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