OP/ED: Marad's Ship Financing Policy

By American Flagship Project
Friday, October 05, 2012

World City America insists Obama Administration Torpedoing U.S. Flag Cruise Industry.

 

As Royal Caribbean Cruises confidently orders its third Finnish-government-financed Oasis-class ship, the Obama Administration slams the door on American competition in this $40 billion-a-year industry supported almost entirely by US passenger revenues. The American Flagship project claims Obama bulldozed its long-planned, private sector funded, job-creating initiative – perhaps to spur already prolific foreign-flag campaign contributions.


According to World City America Inc., the Finnish government has agreed to finance a third Royal Caribbean cruise ship while the Obama Administration dictates that the American economy and American jobs will be preempted from competing in this US-driven market. World City advises that the US Maritime Administration has arbitrarily dictated that the nation’s ship financing program cannot be used to build cruise ships despite the fact that the cruise sector is the only segment of the international shipping industry that has consistently done well, year after year, for decades.
 

Stephanie Gallagher, President of World City America Inc., which company has spent decades and over $60 million trying to capture a fair share of this US-passenger-dependent industry, claims that the Obama Administration has not only “missed the boat” of American opportunity to create and sustain thousands of new jobs and billions in new tax revenues, at no cost to the taxpayer, and with only managed risk, but that President Obama has gone further and dictated that the nations’ ship financing program will not be used to access this huge market.


“It’s a shot in the head,” claims Gallagher. “The Obama Administration, not unlike prior administrations, has enjoyed the foreign-flag cruise lobby largesse and largely ignored the fact that this US-passenger-dependent industry competes with US hotels, resorts, casinos, and other hospitality organizations without having to pay taxes or hire Americans.”

 

“It’s amazing to me,” said Gallagher, “that the President bragged just last week that he ‘walks the talk’ when it comes to a level playing field and giving Americans a fair shot in the global economy.”
 

“In reality,” said Gallagher, “American passengers support a $40 billion-a-year industry that found a way to beat the system — to avoid hiring Americans or paying taxes on their multi-billion-dollar revenues.”
 

“Our organization,” says Gallagher, “found a way to compete by designing a superior product that Royal Caribbean has, in many respects, emulated with their 5,400-passenger Oasis-class ships. But we went further and found an internationally competitive way to build the ship here in America, to fly the Stars & Stripes, to pay taxes, to hire Americans, and to play by the rules.”
 

“Having demonstrated that our plan would be economically sound, would not cost the taxpayers anything, would not increase the debt but would improve the deficit, the only way to push us off the cliff was to enact policy that preempted the nation’s ship financing program from being used to build cruise ships. That’s what the Obama Administration did,” claims Gallagher.
 

“All is fair in love and war,” Gallagher concedes, “but don’t tell the American people that you wake up every day thinking of ways to give the American workers a fair shot in the global economy. Don’t claim to ‘walk the talk’. Just keep talking and getting those foreign-flag campaign contributions into campaign coffers while Finland scurries to save its shipyards and thousands of jobs, fair play or not.”
 

ABOUT THE AMERICAN FLAGSHIP PROJECT
World City America Inc. was formed to design, build and operate a new class of passenger vessel that could be constructed competitively in the United States and compete successfully in the foreign-dominated cruise sector under a US-flag operation. More information about the American Flagship project can be found on its website: www.americanflagship.com
 

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Carrier for Kansai Electric Power Named LNG FUKUROKUJU

Mitsui O.S.K. Lines, Ltd. today took part in a naming ceremony for the newbuilding liquefied natural gas carrier LNG FUKUROKUJU, which is co-owned by MOL and Kansai Electric Power Co.

AAM, UNH in Vessel Design, Construction Pact

All American Marine, Inc.(AAM) together with the University of New Hampshire (UNH) are pleased to announce a contract for the design and construction of a new aluminum catamaran research vessel.

Korean Shipyards in Troubled Water

Struggling with technology and a plunge in oil prices that has discouraged exploration, Korean vessel makers are racking up debt and could show billions of dollars in losses, reports Bloomberg.

Ship Repair & Conversion

Miko Magnetic Patches Pioneer New Repair Technique

BW Offshore has successfully used Miko magnetic patches in a pioneering new repair technique that creates significant time and cost savings. When some cracks

Korean Shipyards in Troubled Water

Struggling with technology and a plunge in oil prices that has discouraged exploration, Korean vessel makers are racking up debt and could show billions of dollars in losses, reports Bloomberg.

Sainty Marine Chairman Resigns

The chairman of Shenzhen-listed Sainty Marine, Wang Shuhua has delivered his resignation amid  the company's deteriorating financial situation, according to an exchange filing.

Cruise Ship Trends

Pearl Seas Cruises Adds Voyages to Cuba

Pearl Seas Cruises plans to launch a series of “cultural voyages” from the United States to Cuba beginning in the spring of 2016, the cruise line announced today.

First Cruise Ship Docks at Teignmouth Port

History was made at ABP’s Port of Teignmouth with the visit of its first ever cruise ship. The Hebridean Princess, a luxury cruise ship, arrived from Dartmouth carrying 50 passengers.

Furuno's Bridge Systems for Holland America Cruise Ships

The extensive global network of Furuno service centers, subsidiaries and distributors was one of the reasons that Holland America Line (HAL) chose Furuno when

Finance

NewLead Holdings Announces Commercial Competency of MT Sofia

NewLead Holdings Ltd.announced today a review of the commercial competency of one of its bitumen tanker vessels, the MT Sofia since the vessel was delivered to NewLead's fleet.

Statoil 2Q 2015 Earnings Slip

Statoil delivered Adjusted earnings of NOK 22.4 billion and adjusted earnings after tax of NOK 7.2 billion in the second quarter. Statoil reported Net income in accordance with IFRS of NOK 10.

MOL's Barge Terminal in Bangkok

Mitsui O.S.K. Lines, Ltd. today announced the signing of a Joint Venture Agreement with SahaThai Terminal Co.,Ltd., a container terminal operation company in Thailand,

Passenger Vessels

Pearl Seas Cruises Adds Voyages to Cuba

Pearl Seas Cruises plans to launch a series of “cultural voyages” from the United States to Cuba beginning in the spring of 2016, the cruise line announced today.

Calais DFDS Ferries to Restart Tuesday; Talks to Reconvene

DFDS Seaways Calais-Dover ferry service, suspended by a workers' blockade of Calais port during the weekend, will resume on Tuesday morning, Transport Minister

Passenger Vessel Runs Aground in Aegean Sea

A passenger vessel (Flying Cat) with a total of 253 persons on board was safely evacuated on Sunday after running aground off Tinos island in the Aegean Sea, Xinhua

Government Update

CMMI’s Maritime Potpourri Focuses on Raising the Bar

The growing popularity of “Maritime Potpourri” Conference organized by the Company of Master Mariners of India (CMMI) was evident yet again on 25th July, 2015

Malaccan Ports to Become Specialised Hubs

Plans are underway to convert seven Malaccan ports into specialized hubs for various sectors to spur the state's economic development, reports the Star.    The

Pearl Seas Cruises Adds Voyages to Cuba

Pearl Seas Cruises plans to launch a series of “cultural voyages” from the United States to Cuba beginning in the spring of 2016, the cruise line announced today.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2679 sec (4 req/sec)