Upgrading, renewing, and expanding the Jones Act fleet is the next huge ship building opportunity in the world today. It has been more than three decades since America held the number one position in worldwide tonnage production. In the intervening 30+ years, Germany, the Netherlands, Japan, Korea, and now China have ascended to the top of the worldwide shipbuilding industry building large fleets of new marine assets for the global economy. Today foreign yards are sold out thru 2027.
NOW IS THE TIME for United States shipyards to shift into high gear and repeat our unmatched WWII-producing record of more than 5,000 marine assets in just over three years. Today, we estimate that our nation will require over 10,000 new marine assets to fulfill its needs in the next ten years, including hundreds of multipurpose container and offshore wind feeders, cable layers, new barges, thousands of fishing vessels, a fleet of new high powered tugs to handle the new fleet of VLCVs (Very Large Container Vessels) and the list goes on and on.
A few of the benefits of NEW modern marine assets:
- The ability to standardize vessels built in series—lowering construction costs
- New marine assets cost less to operate. New technology is simply more efficient
- Standardized vessels can be and are operated by interchangeable crews, just like airplanes
- New vessels are more fuel efficient and environmentally friendly than old technologies
- New marine assets have lower repair and maintenance costs as standard parts are available
- New vessels will meet recent environmental standards
- Modern vessels are insurable
- New Jones Act assets are subject to ten-year depreciation schedules and are eligible for tax credits
- And the list goes on and on and on…
Meeting our nation’s present and future commercial maritime needs is a Herculean task. We must succeed as renewing and expanding our Jones Act fleets are essential for our nation’s economic future.
History has taught us that with every big idea, there are tremendous opportunities and financial rewards for those willing to take the risk and challenge the status quo.
Check out the video produced by our shipbuilding partner, Green Shipping Line. It is time to stop the happy talk, we need marine assets.