A bill to clarify the Merchant Marine Act, 1936, and for other purposes.

Amends provisions of the Merchant Marine Act, 1936 which require that 50 percent of the gross income tonnage of cargoes procured, furnished, or financed, directly or indirectly, by the United States be transported on privately owned United States-flag commercial ocean vessels, to include components (whether or not in finished form) among the cargoes to which the 50-percent requirement must apply.

Makes similar changes regarding the nature of cargoes in providing preference to U.S. vessels for military transportation by sea. Includes within such preferential requirement any goods contracted or subcontracted for on behalf of the military, regardless of when title passes to the Government, and including items accorded duty-free treatment under the Tariff Schedules of the U.S.