Title XI and the Capital Construction fund program have in the past provided the basis for the decade of shipbuilding, following the passage of the 1970 Shipping Act.
However, neither program enjoyed significant use during the past decade. The Bush Administration opposed authorization and funding for the Title XI program during its entire eight years in office, dismissing it as an unnecessary intrusion in an “adequately funded” private sector vessel financing credit market.
The Jones Act and the Title XI and CCF programs are what remain of a comprehensive legislative framework intended to ensure the maintenance of a U.S. owned commercial fleet, and a U.S. based shipbuilding infrastructure, that would support U.S. domestic and international trade in peacetime, and would be available to serve as a military… Continue reading
Shipping, famously said the maritime economist Dr Martin Stopford, “is a branch of the social services”, offering a series of endless and wonderful bargains to the delighted souls who use ships to carry their goods around the world. If you are in the business of shipping goods by sea, you scarcely notice this cost in the total production process, even though shipper bodies get terribly exercised with any attempts of shipping companies to charge a little more. Continue reading
In days of dead reckoning, thick weather and a certain imprecision about where the dickens you were, the occasional grounding was easy to explain and probably attracted a good deal of comment from thoughtful seafarers, who thought “there, but the grace of God, go I”. Continue reading
As Egypt has descended into chaos, it will have been a foolhardy ship operator who will not have considered contingency plans should there be attacks prejudicing the safety of ships in transit through the Suez Canal. Continue reading
Clay spoke to Dave Gardy about the impact of the MLC. Continue reading