NASSCO and The Jones Act
Foreign countries subsidize their shipbuilding operations up to 30% of construction costs, where as the United States does not. As a result the American ship building industry relies on Jones Act to produce ships in a subsidized market. The Jones Act states, that all goods transported by water between U.S. ports be carried in U.S.-flag ships, constructed in the United States, owned by U.S. citizens, and crewed by U.S. citizens and U.S. permanent residents. NASSCO, as of 2006, has built and delivered more Jones Act ships than any other shipyards in the United States. NASSCO was awarded a $1 billion contract in 2006 with U.S. Shipping Partners L.P. to build nine product carrier tankers. This contract was made as a result of the Jones Act requirement, that stops foreign ships from traveling to a US port form another. NASSCO and other shipyards rely on the Jones Act to maintain Businesses in an unfair market.
Read more about this topic: National Steel And Shipbuilding Company
Famous quotes containing the words jones and/or act:
“Strange goings on! Jones did it slowly, deliberately, in the bathroom, with a knife, at midnight. What he did was butter a piece of toast. We are too familiar with the language of action to notice at first an anomaly: the ‘it’ of ‘Jones did it slowly, deliberately,...’ seems to refer to some entity, presumably an action, that is then characterized in a number of ways.”
—Donald Davidson (b. 1917)
“Every day begins with an act of courage and hope: getting out of bed.”
—Mason Cooley (b. 1927)