MARAD

THENATION’S TURE Navigating the right course without turbulent waters T he Maritime Administration (also known as “MARAD”) was established in 1950 and plays a central role in the commerce of the United States. Government involvement in the nation’s maritime industry has a lengthy history dating back more than a century to the Shipping Act of 1916. This legislation established a framework for the regulation of U.S. commercial shipping and acted to promote a U.S. merchant marine. Today, MARAD is a vital part of the U.S. Department of Transportation (“USDOT”). The overall mission statement of the agency is “To foster, promote and develop the maritime 2 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 05