To authorize appropriations for fiscal year 1992 for the Maritime Administration, and for other purposes.

Authorizes appropriations for the Maritime Administration for: (1) operating-differential subsidies; (2) manpower, education, and training; (3) operating programs; and (4) national security support capabilities, including the Ready Reserve Force.

Amends the Merchant Ship Sales Act of 1946 to require the Secretary of Transportation to acquire vessels for the Ready Reserve Force (RRF) component of the National Defense Reserve Fleet in the following order: (1) U.S.-flag/U.S.-built vessels; (2) U.S.-flag/U.S.-rebuilt vessels; and (3) U.S.-flag vessels documented for at least one year.

Requires the Secretary to ensure the readiness of vessels in the RRF by: (1) maintaining all vessels in a manner that will enable each vessel to be activated within a period specified in plans for mobilization; (2) activating and conducting sea trials on each vessel at least once every 24 months; (3) maintaining, in an enhanced activation status, those vessels that are scheduled to be activated within five days; (4) locating those vessels that are scheduled to be activated within five days near embarkation ports specified for those vessels; and (5) having each vessel inspected by the Secretary of the department in which the Coast Guard is operating to determine if the vessel meets certain safety standards.

Sets forth eligibility requirements and contract requirements for vessel managers.

Requires all repairs (except emergency repairs) and alterations to a vessel in the National Defense Reserve Fleet to be made in a privately owned shipyard in the United States.

Grants reemployment rights to merchant seamen who are employed in the activation and operation of a vessel used by the United States for a war, including participants in the Desert Shield/Desert Storm sealift operation.

Provides that the Secretary may enter into a contract for the maintenance of the National Defense Reserve Fleet only for non-routine maintenance work.

Eliminates the cap on grants to Maritime Enhancement Institutes.

Requires that a vessel engaged in dredging in the navigable waters of the United States or the Exclusive Economic Zone be a documented U.S.-flag vessel with a coastwise endorsement, and if a chartered vessel, be chartered by a person who is a U.S. citizen for purposes of engaging in the coastwise trade. Makes vessels operating in knowing violation of such requirement subject to seizure by, and forfeiture to, the U.S. Government. Specifies exceptions to such requirement. Makes Federal, State, and local merchandise subject to coastwise trade laws.

Excludes a certain vessel transporting valueless material or valueless dredged material from a specified law governing the transportation of sewage sludge.

Provides for the replacement of outported vessels.