Released April 25, 2019 | SUGAR LAND
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President Donald Trump is looking into waiving the requirement that only U.S.-flagged vessels can move goods from American ports to Puerto Rico or energy-starved areas of the Northeast, according to Bloomberg News.
The Jones Act is a 1920 law that requires vessels moving cargo between two U.S. ports be U.S.-built, -owned and -crewed. It was designed to protect the domestic shipping industry.
Waiving the requirement is expected to lower the cost of energy in Puerto Rico and ease the flow of American natural gas to the U.S. Northeast, where there aren't enough pipelines to deliver the product from Pennsylvania. Puerto Rico is seeking a 10-year waiver to allow LNG to be delivered to the island on foreign-flagged vessels.
The Jones Act is a 1920 law that requires vessels moving cargo between two U.S. ports be U.S.-built, -owned and -crewed. It was designed to protect the domestic shipping industry.
Waiving the requirement is expected to lower the cost of energy in Puerto Rico and ease the flow of American natural gas to the U.S. Northeast, where there aren't enough pipelines to deliver the product from Pennsylvania. Puerto Rico is seeking a 10-year waiver to allow LNG to be delivered to the island on foreign-flagged vessels.
