Page 10. MAINE COASTAL NEWS February 2010
Waterfront News Congress Appropriates $12.5 Billion for
Seven Naval Ships
On December 16th, the House of Representatives passed the FY 2010 Department of Defense Appropriations Bill (HR 3326, as amended). The legislation was passed in the Senate on December 19th. Congress agreed to appropriate $12.5 billion for seven new naval ships. Funding provides for the procurement of one Virginia class submarine, one DDG-51 Arleigh Burke multi-mission destroyer, two T-AKE combat logistics force ships, two littoral combat vessels, and one joint high speed vessel. The bill further provides funding to complete the third DDG-1000 Zumwalt class multi- mission destroyer, and the tenth LPD-17
NAVALAND MERCHANT SHIPBUILDING FUNDING ANNOUNCED
amphibious transport dock ship. Congress also added $170 million in advance procurement funding to the budget request for the LHA-7 amphibious assault ship. This advance funding will help to achieve a construction start in FY 2011.
Funding Provided for Commercial Shipbuilding and Job Creation In an effort to stimulate job growth and invest in America’s Marine Highway, the Jobs for Main Street Act (HR 2847, as amended) provides $100 million for the Title XI Ship Loan Guarantee Program. The legislation passed the House of Representatives on December 16th. The Senate will not consider this legislation until
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Eastport's Pirate Festival ing, planning and fund raising for the coming
year.
commerce. That is the true Yankee way of doing things.”
In 2009 the Pirate Festival attracted the top “Pirate Band” in the USA called the Brigands. It also features one of America’s best known professional pirate re-enactment groups, The Pirates of the Dark Rose. Over 50 events were on the schedule this past year and 2010 promises an increase in the number of family related events and a big surprise offering that will “really take Eastport Pirate Festival 2010 up another notch,” according to festival organizers who are already meet-
One new addition to the popular week- end event will be an International Lobster Boat Race between lobster boats from Canada and Maine.
“One of our long time Pirate Festival supporters has stepped forward with the offer to fund a $1000 prize for the fastest lobster boat,” says Miller. “The numerous Lobster Boat Races along the Coast of Maine are great fun and draw large and enthusiastic crowds throughout the summer. This will be a most exciting addition to our festival events.”
2010. Funding in the Jobs for Main Street Act is derived from a redirection of unused Troubled Asset Relief Program (TARP) savings. Congress appropriated a combined $35 million for new Title XI loan guarantees in the FY 2010 Transportation and Defense Appropriations bills ($5 million was appropriated in the Transportation Appropriations Bill and $30 million was included in the Department of Defense Appropriations Bill).
The Title XI program, administered by the Maritime Administration (MARAD) of the Department of Transportation, provides small and medium sized ship owners with a federal guarantee of 87.5 percent of commercial bank loans for a period of 25 years for the construction of commercial ships in the United States. Title XI financing is used by U.S. ship owners to replace and expand their fleets of ships to meet the Nation’s energy transportation needs, domestic commerce requirements, and to serve as a military auxiliary fleet in times of emergency. With the tightening of the credit market and hesitancy of lenders to agree to large commercial loans, the federal guarantee provided through the Title XI program is essential to making financing for vessel construction available.
The Title XI program has historically had a 20 to 1 multiplier, generating $20 million in ship construction in the United States for every $1 million appropriated for the program. Once an application for a Title XI
58 Fore Street, Portland 04101, Located on the waterfront off Commercial Street. 1000 to 1800 Friday and Saturday and 1000 to 1600 on Sunday
MAINE BOATBUILDER'S SHOW 19, 20 and 21 March 2010
Come see the finest wood and fiberglass boats in the Northeast! Come and meet the builders. Sail, power, canoes, kayaks and skiffs will all be on display.
loan guarantee is approved, the construction order is immediately placed in a shipyard, instantaneously creating and sustaining thousands of jobs in the shipyard and supplier base for two to three years.
Virginia Members Urge Support for Shipbuilding Jobs
Prior to adjournment of the House of Representatives for the year, Representatives Bobby Scott (D-VA), Glenn Nye (D-VA), and Rob Wittman (R-VA) sent a letter to the Speaker of the House urging Congress to stimulate job growth by building ships in the United States. Members of the Virginia delegation highlighted that America’s Navy and Coast Guard have unfunded ship requirements. Additionally, commercial ship owners need access to affordable financing to build ships for domestic commerce, and for energy exploration and development. These Members of Congress stress that making investment in America’s sea services a national priority will create and sustain hundreds of thousands of highly skilled jobs in all fifty states. (From Sea Power Ambassador)
2009 Exhibitors A.L. Brown
Adirondack Guideboat American Rope & Tar American Schooner Assoc. Antique Tools and More Areys Pond Boat Yard Artisan Boatworks Atlantic Boat Company Atlas Metal Sales Back Cove Yachts Bass Products, LLC Bay of Maine Boats Beetle, Inc.
Beta Marine US Ltd Bete Fleming, Inc. Boats & Harbors Boatwise Bomon Inc.
Brion Rieff Boatbuilder Bristol Bronze BRP US Inc.
Cape Cod Shipbuilding Chase Leavitt Co. Classic Boat Shop
Classic Boatworks of Maine Coastal Canvas LLC Compass Project
Cranberry Island Boatyard Custom Float Services
CW Hood Yachts
Downeast Maine Peapods Dupont Performance Coatings East Coast Laminating Co. Inc. East Coast Yacht Sales Echo Rowing
Edson Corporation Ellis Boat Co. Inc. ePaint Company
Epifanes North America Inc. ES Bohndell Co. Inc. Euro Marine Trading Festive Fish Fleet Sheets
Fogg's Boatworks Great Island Boat Yard Grey Barn Boatworks Guillemot Kayaks Hallett Canvas and Sails Hamilton Jet Drives Hamilton Marine Inc. Handy Boat Hansen Marine Harbor Sales Co. Howard Boats Hunt Yachts Imtra Corp.
International Chromium Co.
International Yacht Restoration Interstate Fire Protection Island Cow Ice Cream Island Falls Canoe
John Deere Marine/Bell Power John Williams Boat Co. Kittery Point Yacht Yard Kohler Generators Landing Boat Supply Langer Enterprises Lowell’s Boat Shop MacLeod Custom Boats Maine Boats, Homes & Harbors Maine Chapter, MS Society Maine Coastal News
Maine Island Trail Association Maine Maritime Academy Maine Sailing Adventures Maine Yacht Center
Marine Restoration & Salvage Marlinspike
Marshall Marine Corp. Martin Walter Company Inc. Michael Hewes & Co. MJM Yachts Morris Yachts Mudd Knives Nanni Diesel
Nantucket Bag
Nautilus Marine Fabrication Navtronics
New England Fiberglass Co. New England Propeller Nichols Boatbuilder LLC
Norseboat Sailing & Rowing Cruisers Northen Fiberglass Sales
Nova Scotia Boatbuilders Association Ocean Link
Ocean Navigator Ocean Options Inc. Ocean Pursuits, LLC Padebco Custom Yachts Paul E. Luke, Inc. Pert Lowell Co. Inc. Pettit Paint
Pheonix Resins DBA Mas Epoxies Points East
Portland Head Sail & Power Portland Yacht Services Pulsifer Hampton
R & W Traditional Rigging Redd’s Pond Boatworks Rock Coast Boatworks Rosborough Boats, Ltd. Rumery’s Boatyard Sabre Corporation
Presented by Portland Yacht Services - (207) 774-1067
Samoset Boatworks Seal Cove Boatyard Six River Marine
Smithwick & Mariners Insurance Soundings Magazine South Shore Boat Works Southport Island Marine Spectra Watermakers Stanley Scooters
Stazo Marine Equipment N.A. Steyr Motors Stur-Dee Boat Co. The Boat School
The Evolution Company Inc. The Hinckley Company The Landing School Thermo Boat Ltd Thomas Brokerage Van de Stradt Timber Variprop/varifold VECO-North America Victron Energy West Bay Boats West System Epoxy Wilbur Yachts Women Under Sail WoodenBoat Publications Yankee Marina
www.portlandcompany.com
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