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Summary

MARAD will not be able to meet the legislative mandate to dispose of its ships by September 30, 2001. It also will not be able to gain meaningful financial returns from these ships. Specific issues we addressed were (1) the environmental threats posed by MARAD's growing backlog of obsolete vessels; (2) key factors contributing to MARAD's inability to scrap vessels domestically; and (3) the need for prompt implementation of a plan that prioritizes disposal of the "worst condition" vessels and identifies methods and milestones for disposing of all obsolete vessels in the Fleet.