owned or -controlled vessels under the Merchant Marine Act
of 1936, after the VISA and SRP programs have been exhausted.
Some of the unique payroll challenges of the maritime industry include compliance with legal requirements established by the Merchant Marine Act
of 1920 (Jones Act), which regulates maritime commerce in U.
It also allows the cruise companies to circumvent the 1920 Merchant Marine Act
, which, among other things, requires ships traveling between U.
The 1920 Merchant Marine Act
legislates that only American-made, American-owned ships manned by American officers and crews can sail between U.
The Amended Certificate facilitates the ability of Allegro to comply with provisions of the Merchant Marine Act
of 1928, commonly referred to as the Jones-White Act, that restrict foreign ownership and control of certain companies, which provisions may apply to Allegro after completion of the acquisition of Talen's Marine & Fuel.
Lehman, including co-investments from NEP and other investors, $140 million in senior debt financing from ABN-Amro Bank (guaranteed by the United States Maritime Administration pursuant to Title XI of the Merchant Marine Act
of 1936), and $17 million in subordinated notes from shipbuilder Austal USA.
The Maritime Administration's guarantee is made under the authority of Title XI of the Merchant Marine Act
5 million financing under Title XI of the Merchant Marine Act
, as administered by the Maritime Administration (MARAD).
The Maritime Administration's commitment, which is subject to the satisfaction of various conditions, is made under the authority of Title XI of the Merchant Marine Act
Nasdaq: TMAR) ("Trico") today announced that it has received a commitment from the United States Maritime Administration ("MARAD") to provide a guarantee of obligations pursuant to Title XI of the Merchant Marine Act
of 1936, for mortgage period financing, relating to the construction of two 230-foot deepwater supply vessels.
Construction is subject to obtaining a shipyard contract and satisfactory government-guaranteed financing under Title XI of the Merchant Marine Act