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(Title XI)
20.802
To finance eligible vessels and shipyards to promote the growth and modernization of the U.S. Merchant Marine and U.S. shipyards. The Federal Ship Financing Program (commonly referred to as "Title XI" based on the part of the Merchant Marine Act of 1936 that established the program) provides long-term loans by the Maritime Administration (MARAD). Through these loans, the Title XI Program encourages U.S. shipowners to obtain new vessels and recondition existing vessels with U.S. shipyards cost effectively. It also assists U.S. shipyards with modernizing their facilities for building and repairing vessels to strengthen competitiveness and support increased productivity.
This chart shows obligations for the program by fiscal year. All data for this chart was provided by the
administering agency and sourced from SAM.gov, USASpending.gov, and Treasury.gov.
For more information on each of these data sources, please see the
About the data page.
In 2016 authority to guarantee over $9.58 billion of new guarantees.
In FY 2016, a commitment to guarantee $373.7 million was approved for mortgage period financing to construct two Jones Act qualified LNG powered ConRo vessels.
In 2017 authority to guarantee over $9.6 billion of new guarantees.
In 2018 authority to guarantee over $9.6 billion of new guarantees.
In 2019 authority to guarantee over $9.2 billion of new guarantees.
In FY20 Title XI approved a loan guarantee application in the amount of $331,340,000.
One new loan guarantee is expected to close within FY22.
Since 1993, the Federal Ship Financing Program has approved financing of more than $7.6 billion across more than 112 separate projects. In FY 2023, the program approved its first project supporting offshore wind, a service operation vessel.
Single Audit Applies (2 CFR Part 200 Subpart F):
For additional information on single audit requirements for this program, review the current Compliance Supplement.
OMB is working with the U.S. Government Accountability Office (GAO) and agency offices of inspectors general to include links to relevant oversight reports. This section will be updated once this information is made available.
