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US Maritime Administration

C1. Commercial shipping, chartering, economics and finance

Definition

MARAD, US government maritime authority.

The US Maritime Administration (MARAD) is the agency within the Department of Transportation responsible for the US merchant marine, its shipping infrastructure, and sealift readiness. It administers the Jones Act coastwise-trade framework, runs maritime subsidy and loan-guarantee programs such as Title XI ship financing and the Maritime Security Program, and maintains the National Defense Reserve Fleet and Ready Reserve Force for military cargo in a crisis. MARAD also oversees the US Merchant Marine Academy. It is a promotional and administrative body, not a safety regulator; vessel safety and pollution enforcement sit with the US Coast Guard.

Source: US Maritime Administration (MARAD), Department of Transportation