Figure IV-l-Merchant Fleets of the world 



FLEET SIZE 



Number of Vessel 



2,500 



DEADWEIGHT TONNAGE 



Millions of Tons 

 40 



1 Oceangoing s 



1964 1967 1969 



(June) 



r ships of 1000 gross tons or more Excludes shif 

 los are included U S governmeni ships, exclodi 

 sWorld, 1961. 1964, 1967, l969.Mar iiime Adm 



1967 1969 



(June) 



on. US Oepaf 1 



annual "mix" of ships may vary. These ships, added to 150 already under 

 construction or planned, will provide an overall increase of 450, and will 

 exceed the capacity of the present merchant fleet. The total of $3.8 billion 

 of Federal subsidies over the decade will be matched by $4 billion from in- 

 dustry. Supporting this investment program, it is proposed that the ceiling 

 on federally insured mortgages be increased from $1 billion to $3 billion. 

 Construction differential subsidies will be extended to bulk carriers, which 

 are not now covered, and construction subsidies paid directly to shipyards. 

 In operational support for the merchant marine, differential subsidies will 

 be continued only for the higher U.S. wage and insurance costs. Under the 

 plan, it is proposed that the "recapture" provisions of earlier legislation 

 which required that a portion of profits be returned to the Government 

 would be eliminated, as would the statutory requirement that certain Gov- 



52 



