This book reviews the long history of U.S. shipping policy, and explains the present challenges (including the increasing use of open register arrangements). U.S. labor problems, tort and liability risks, environmental and safety regulations, and coastal and harbor security issues receive heavy emphasis. Options for reviving U.S. shipbuilding are analayzed, along with balance of payments implications, and sealift and national security requirements. The book offers a detailed program for American maritime renewal. It is intended for maritime, national security, international trade, and foreign policy audiences. Extensive data and tables allow for a comprehensive assessment of the U.S. merchant marine and the global shipping industry, with substantial historical background. Nearly two thirds of world shipping is done under flags of convenience. The significant over-tonnaging, subsidies and/or restrictions, and shipping friendly policies present in many countries create strong competitive pressures. Unfortunately, the U.S. and British merchant marines are in serious decline. But the Japanese, Chinese, Greeks, and Scandinavians are thriving at sea. And many European Union, Asian, and former Eastern bloc nations are likely to remain determined competitors. U.S. maritime policies need overhaul and a more realistic outlook. This book reviews the long history of U.S. shipping policy, and explains the present challenges (including the increasing use of open register arrangements). U.S. labor problems, tort and liability risks, environmental and safety regulations, and coastal and harbor security issues receive heavy emphasis. Options for reviving U.S. shipbuilding are analayzed, along with balance of payments implications, and sealift and national security requirements. The book offers a detailed program for American maritime renewal. It is intended for maritime, national security, international trade, and foreign policy audiences. Extensive data and tables allow for a comprehensive assessment of the U.S. merchant marine and the global shipping industry, with substantial historical background.