Jones Act Fleet a Catalyst for Growth Says Jaenichen

MarineLink.com
Monday, September 30, 2013
Paul 'Chip' Jaenichen: Photo credit MARAD

At the inaugural recent Tradewinds Jones Act Forum, MARAD Acting Administrator Paul 'Chip'  Jaenichen discussed the changes affecting the coastwise U.S.-flag maritime industry -- also known as the Jones Act fleet. Extracts follow:

Since its enactment, the Jones Act continues to ensure a level playing field for U.S. vessels moving cargo within the nation. The Act keeps skilled American mariners employed aboard American ships by requiring that products moved between U.S. ports be carried by U.S. vessels manned by U.S. crews.  More recently, the Jones Act has been a catalyst for growth in the maritime industry and also our economy.

Supply boats, large tankers, and barge vessels are in high demand to support the production and movement of shale oil, a new, more abundant cargo source, between American coastwise ports. Currently 12 new self-propelled product and crude tankers are on order from American shipyards, with options to build more.  In addition, more than 100 offshore vessels are on order at Gulf Coast shipyards, with the number of deep water rigs available in the Gulf of Mexico expected to increase by 25 percent by 2015.

That’s why this Administration has invested more than $150 million to boost U.S. shipyards that support production upgrades to increase capacity and competitiveness as well as shipyard efficiency.

It’s a wise investment. Since 2008, U.S. oil and natural gas production has increased overall and net imports of foreign oil and petroleum fell to their lowest level in nearly 20 years. We are now less reliant on oil imports than any time since 1993 with the U.S. on track to become the world’s largest oil producer by 2020.

And of course, increased production at our shipyards means middle-class jobs for Americans who not only build, but also operate these vessels. Additionally, the shipbuilding industry contributes more than $36 billion to our national economy.

The Obama Administration remains committed to our shipping industry and to the policies that sustain domestic trade. This productive industry has helped grow America’s economy.


 

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

Shipbuilding

Fincantieri Invests In Camper & Nicholsons

Fincantieri has signed an agreement for the acquisition of a minority stake via capital injection in Camper & Nicholsons International (Camper & Nicholsons), the

ERMA Bullish on Ballast Water Treatment

After having delivered several BWTS systems in Kita Nihon shipyard in Japan, one more ERMA FIRST BWTS was successfully installed onboard the Bulk Carrier M/V SCARABÉ(DWT: 60,

USS Freedom (LCS 1) Completes Rough Water Trials

The littoral combat ship USS Freedom (LCS 1) completed Seakeeping and Structural Loads Trials, commonly referred to as Rough Water Trials (RWT) in late March the Navy reported May 21.

Offshore

Mobil Says Oil Discovery off Guyana is 'Significant'

Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast.

US Oil Platform on Fire in Gulf Of Mexico

An oil platform caught fire and was evacuated in the U.S. Gulf of Mexico offshore Louisiana in the early hours of Friday, though no injuries were reported, the U.

IMO Adopts Polar Code Environmental Provisions

United Nations' International Maritime Organization (IMO) has adopted the environmental part of the Polar Code. Hereby, internationally binding regulations on

Finance

Fincantieri Invests In Camper & Nicholsons

Fincantieri has signed an agreement for the acquisition of a minority stake via capital injection in Camper & Nicholsons International (Camper & Nicholsons), the

Tsakos Energy Navigation Reports 156% Increase in Q1 Profits

Greece-based Tsakos Energy Navigation Ltd (TEN) has reported first-quarter profit of $37.3 million from $14.6 million in Q1 2014 - a 156% Increase. On a per-share basis it has profit of 42 cents.

Egypt's $3 Bln LNG tender in June

Egypt is reportedly to issue a tender in early June to buy up to $3 billion of liquefied natural gas over 2016 and 2017, Reuters reports.   The country recently

People in the News

2 Americans Rescued North of Cuba

A Coast Guard MH-60 helicopter crew rescued two American sailors whose vessel ran aground approximately 25 miles north of Gibara, Cuba, Friday. Watchstanders

U.S. Senators Urge Obama to Block Arctic Oil Drilling

A group of 18 mostly Democratic U.S. senators on Friday urged the Obama administration to stop Royal Dutch Shell's preparations for oil exploration in the Arctic,

Mayor Garcetti on Ratification of Port Labor Contract

International Longshore and Warehouse Union members have ratified a five-year contract governing pay and work rules at 29 West Coast ports, including those of Los Angeles and Long Beach.

Government Update

U.S. Senators Urge Obama to Block Arctic Oil Drilling

A group of 18 mostly Democratic U.S. senators on Friday urged the Obama administration to stop Royal Dutch Shell's preparations for oil exploration in the Arctic,

Mayor Garcetti on Ratification of Port Labor Contract

International Longshore and Warehouse Union members have ratified a five-year contract governing pay and work rules at 29 West Coast ports, including those of Los Angeles and Long Beach.

US Funding for Air Emissions/Alternative Energy Projects

The U.S. Maritime Administration (MARAD) announced that up to $1.3 million in Federal funding is now available through cooperative agreements for projects supporting

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1824 sec (5 req/sec)