Page 58: of Maritime Reporter Magazine (June 2003)

(Continued from page 53)

In November 2002, MarAd sponsored a "Short Sea Shipping Conference" in

New York City. There were presenta- tions on congestion, and on the needed services and equipment. But, and it sur- prised no one, MarAd financing issues were not addressed. Title XI was clear- ly "off limits" by OMB order, and

Administrator Schubert's CCF proposals which were an intended source of capi- tal for these Short Sea projects were barely mentioned.

But "How are these projects to be funded?" Where is the equity to be found, or how is it to be accumulated?

Will debt financing matched to vessel useful lives be available? Or will the debt be subject to repayment over some shorter period such as one-half of a ves- sel's life? Significant developments will depend upon MarAd financing

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Circle 346 on Reader Service Card 58 Circle 339 on Reader Service Card assistance, and MarAd financing assis- tance will require OMB and DOT approval and support. But, as I have already noted, OMB has continued to oppose the use of these MarAd pro- grams, and Coastwise shipping is not even mentioned in the DOT Draft

Strategic Plan for FY2003-2008.

This should be a source of significant shipbuilding opportunities by mid- decade and thereafter. However, it is difficult to assign any newbuildings fig- ures for these Coastwise trades in the face of OMB opposition and DOT indif- ference. 8. Passenger and

RoRo/Passenger Ferries.

While ferry transport was largely abandoned after WWII, selected urban locations like New York and Boston have seen new ferry services successful- ly introduced. In New York City non- subsidized ferry operators are providing more than 60,000 passenger trips per day between multiple locations in northen New Jersey and Manhattan.

And, New York City has announced plans for the development of a regional passenger ferry transportation plan and the construction of what The New York

Times has described as a "fleet" of new ferry terminals.

Ferry services provide significant con- tributions to regional and local trans- portation networks across the entire country. The Washington State Ferry

System, the largest volume passenger and vehicle system in the nation, meets essential transportation needs and pro- vides complementary services which have themselves become a major tourist attraction. Ferries have been in opera- tion on San Francisco Bay for more than 150 years, with more than 30 major ferry routes in service at one time or another. The past three decades have seen the expansion of various cross Bay services to provide commuting alterna- tives to the bridges and the Bay Area

Rapid Transit (BART) system. A San

Francisco Bay Area Water

Transportation Authority has been estab- lished to plan and manage an ambitious expansion of high speed ferry service for the entire Bay Area.

New ventures are underway for

Alaska, for the Seattle region, and for various Coastal and U.S. Great Lakes routes. U.S. shipyards are now proven builders of stable catamaran platforms with vessel speeds which range between 35 and 50 knots, and sizes appropriate to the services in which the vessels are to be employed. New. low wake designs are being proven effective. These and other developments open new opportu- nities for ferry transportation. From

Maritime Reporter & Engineering News