📈 Fed's first cut since 2020: Time to buy the dip? See Tech-focused stock picksUnlock AI Picks

U.S. awarding $12.6 million for marine highway projects

Published 12/10/2021, 08:12 AM
Updated 12/10/2021, 08:15 AM
© Reuters. FILE PHOTO: U.S. Secretary of Transportation Pete Buttigieg speaks during the UN Climate Change Conference (COP26), in Glasgow, Scotland, Britain, November 10, 2021. REUTERS/Yves Herman

By David Shepardson

WASHINGTON (Reuters) - The U.S. Transportation Department on Friday said it is awarding $12.6 million in grants for nine marine highway projects as part of ongoing efforts to improve ports and address supply chain issues.

Transportation Secretary Pete Buttigieg said in a statement the funds "will help us move more goods, more quickly and more efficiently" and ease the movement of goods along navigable waterways.

The $1 trillion infrastructure law signed last month by President Joe Biden provides an additional $25 million to support marine highway projects beyond Friday's awards.

In total, Congress approved $17 billion to revamp U.S. ports.

Many U.S. ports have bridge or depth limitations that restrict their ability to receive larger vessels, while a surge of cargo is straining land operations at some ports.

The marine highway program " encourages  the use of America’s navigable waterways for the movement of freight and people as an alternative to land-based  transportation,” said Acting Maritime Administrator Lucinda Lessley.

The new awards include $1.4 million to help fund a new bridge crane in Kentucky to transport steel products by inland river barge from the Ports of Cincinnati, Northern Kentucky and Indiana.

A $1 million grant for a North Carolina container on barge shuttle operation  which will eliminate some truck traffic. Currently containerized cargo bound for the Port of Virginia from Edenton, N.C. must reach its destination via trucks.  

A project to modify a deck barge for deliveries in New York Harbor between New York and New Jersey is receiving $1.5 million. The project will allow for deliveries of up to 36 trailers between Brooklyn and Newark  on  one daily round trip, 260 days per year.

© Reuters. FILE PHOTO: U.S. Secretary of Transportation Pete Buttigieg speaks during the UN Climate Change Conference (COP26), in Glasgow, Scotland, Britain, November 10, 2021. REUTERS/Yves Herman

A Houston, Texas area project is getting $3 million to help fund two purpose-built barges to transport up to 56,000 containers annually to and from surrounding ports.  

The Virginia Port Authority is getting $3 million to  improve lighting within the Richmond Marine Terminal perimeter  allowing for barge operations beyond daylight hours.  

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.