A more thorough explanation:

The Maritime Administration (MARAD) is a unit within the U.S. Department of Transportation that is responsible for several important tasks related to the maritime industry. These tasks include:

• Subsidizing certain costs of operating ships under the U.S. flag
• Constructing or supervising the construction of merchant-type ships for the U.S. government
• Administering the War Risk Insurance Program
• Operating the Merchant Marine Academy, which trains merchant-marine officers

For example, MARAD might provide financial assistance to a shipping company that operates vessels under the U.S. flag, which helps to promote the U.S. maritime industry. Additionally, MARAD might oversee the construction of a new ship for the U.S. government, ensuring that it meets certain standards and specifications. The War Risk Insurance Program provides insurance coverage for ships that are at risk of being damaged or destroyed due to war or other political risks. Finally, the Merchant Marine Academy trains individuals to become officers in the merchant-marine industry, which is an important part of the U.S. economy.