Maritime Administration finalizes rules for government-backed tanker fleet
/ 1 min read
Table of Contents
The Maritime Administration has finalized regulations for its Tanker Security Program, which pays private shipowners to keep U.S.-flagged product tankers ready for military use. The rule sets the payment amount at $8.16 million per vessel annually and defines who qualifies for these funds.
Why it matters: The government maintains this program because it considers reliance on foreign-flagged tankers for fuel transport a national security risk. By paying private owners, the Department of Defense ensures it can access sufficient tanker capacity during war or emergencies without having to build its own commercial shipping fleet.
Who it affects
- Private vessel owners and operators who hold U.S.-flagged product tankers under 10 years old
This final rule was issued by the Maritime Administration within the Department of Transportation; you should check the original document at regulations.gov before relying on specific legal requirements.
Agency: Transportation Department, Maritime Administration
Source: Federal Register — read the official document