History
When the United States Maritime Commission was abolished on 24 May 1950, its functions were split between the Federal Maritime Board which was responsible for regulating shipping and awarding subsidies for construction and operation of merchant vessels, and Maritime Administration, which was responsible for administering subsidy programs, maintaining the national defense reserve merchant fleet, and operating the United States Merchant Marine Academy.
In 1961, the Federal Maritime Board regulatory functions were assumed by the newly created Federal Maritime Commission, while the subsidy functions were assigned to the Maritime Subsidy Board of the Maritime Administration.
On August 6, 1981, MARAD came under control of the Department of Transportation thereby bringing all transportation programs under one cabinet-level department.
Read more about this topic: United States Maritime Administration
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