Jones Act Tanker Market to Grow with Oil Production Boom
The Jones Act has been blamed for everything from higher prices of goods and oil to a shortage of rock salt supply in the Northeast during the past winter, but the 94-year-old U.S. federal statute governing the U.S. coastal shipping trades will not be going away anytime soon. The solid status of this deeply entrenched U.S. federal maritime law is reflected in heavy investments by oil, logistics and shipping companies in this lucrative domestic shipping sector.