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

Shipbuilding

Huntington Ingalls Cites Interest in Building US Icebreakers

Huntington Ingalls Industries Inc, which builds aircraft carriers and U.S. Navy warships, on Tuesday said it was keen to bid to build new icebreakers for the U.

New Tanker Stena Imperial Named in Savannah

A new 50,000 DWT MR chemical and product tanker based on the IMOIIMAX concept, Stena Imperial, was named yesterday in Savannah, Ga.   Built by Chinese shipyard

Bulk Carrier Ship Delivered to Pioneer Marine

Pioneer Marine, a shipowner and drybulk handysize transportation service provider, announced  it has accepted delivery of a 38,464 DWT Green Dolphin eco-design handysize vessel, the M.

Offshore

MODEC FPSO Achieves First off Brazil

MODEC, Inc. announced today that its FPSO Cidade de Itaguai MV26, operating in the Iracema Norte area of Lula field, in the Pre-Salt layer of Santos Basin offshore Brazil,

AFBO to Provide Security in Arctic Waters

State of the Arctic Council to establish a new mechanism to strengthen operational cooperation and coordination of activities at sea. This is dictated by the

First Damen Twin Axe Workboat for Middle East

Damen Shipyards Group has delivered a Damen Fast Crew Supplier (FCS) 2610 workboat, named AOS SWIFT for the Atlantic Maritime Group on 20 August 2015. This is

Tanker Trends

Nigeria Ramps up Push to Eradicate Oil Theft

Nigerian authorities hope to put an end to rampant oil theft in eight months by increasing drone and naval monitoring of territorial waters and working with local communities,

TEN Charters Tanker at 20% Premium

Tsakos Energy Navigation Limited announces two-year charter renewal at a 20 percent premium to prior contract reflecting strong tanker market fundamental, oil price

Brent Crude Falls More than 7 Percent

Brent crude futures tumbled more than 7 percent on Tuesday, falling back below $50 a barrel as data highlighting China's contracting manufacturing sector revived

Finance

TEN Charters Tanker at 20% Premium

Tsakos Energy Navigation Limited announces two-year charter renewal at a 20 percent premium to prior contract reflecting strong tanker market fundamental, oil price

Brent Crude Falls More than 7 Percent

Brent crude futures tumbled more than 7 percent on Tuesday, falling back below $50 a barrel as data highlighting China's contracting manufacturing sector revived

Gunvor Emerges as Winner in Rosneft's Jumbo Oil Tender

Trading house Gunvor, which has been selling assets in Russia, has again emerged as the winner of a semi-annual Rosneft tender, traders said on Tuesday.   They said Gunvor would lift from 200,

People in the News

IMO’s Sekimizu Condemns People Smugglers

Prompted by recent incidents in which hundreds of migrants attempting to cross the Mediterranean to Europe have lost their lives, including dozens found dead in

Obama Pushes for US Icebreakers

President Barack Obama on Tuesday proposed a faster timetable for buying a new heavy icebreaker for the U.S. Arctic, where quickly melting sea ice has spurred more

3 Resuced from Sunken Fishing Vessel

The Coast Guard rescued three individuals from a 75-foot fishing vessel that sank approximately 12 miles southwest of Point Au Fer in the Gulf of Mexico, Monday.

Government Update

Huntington Ingalls Cites Interest in Building US Icebreakers

Huntington Ingalls Industries Inc, which builds aircraft carriers and U.S. Navy warships, on Tuesday said it was keen to bid to build new icebreakers for the U.

Oil Exports Could Push US Gasoline Prices Lower

The price of U.S. gasoline could fall if Washington were to allow crude oil exports, an independent government report on Tuesday concluded, adding political firepower

Migrant Crisis Promts Call to IMRF for Help

Mediterranean Rescue Services are in urgent need of support because they are struggling to keep up with the replacement of equipment being used to rescue the increasing

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Port Authority Ship Electronics 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: 0.4943 sec (2 req/sec)