- Despite Recent Waivers, Jones Act Will Weather the Storm
- October 27, 2017 | Authors: Susan G. Lafferty; David M. McCullough
- Law Firm: Eversheds Sutherland (US) LLP - Washington Office
The Jones Act, which requires the use of a US-built, -crewed and -owned vessel to ship cargo between two US ports, is a much beleaguered or much heralded law depending on who you ask. It is one of the most strictly enforced and rigidly interpreted laws on the books, and is hardly ever waived despite the protests of many commodity merchants who, in order to charter a Jones Act-qualified vessel, often have to pay rates two or three times as much as those of a foreign vessel.
That is why the unprecedented waiver of the law on three separate occasions last month in response to the wave of hurricanes hitting the US raised renewed questions about whether the law was outdated and should even be repealed. The waivers also provide important insights into how the Administration operates and their impact on oil and commodity markets.In their article for Globe Trade, Eversheds Sutherland attorneys Susan Lafferty and David McCullough discuss the waivers, lessons learned and impact of the waivers, and the future of the Jones Act.