This year’s International WorkBoat Show (IWBS) will feature the Jones Act breakfast, where industry experts will discuss the history of the Jones Act, its current state, the challenges it faces today, and the opportunities it presents for the future.
For over a century, the Jones Act has been the backbone of American maritime policy. By requiring that goods transported between U.S. ports be carried on ships that are built, owned, and operated by Americans, the Jones Act has helped establish the maritime industry as a crucial part of the nation’s economic framework.
As we move through 2024, the Jones Act is once again under the spotlight. Of particular concern is the threat of foreign competition and its impact on U.S. shipbuilding. American shipbuilding companies face stricter regulations than most of their international counterparts.
During the breakfast session, panelists will tackle key issues, such as:
- Preventing Exploitation and Ensuring Fair Competition: How can the Jones Act be updated to close loopholes that foreign companies might exploit and ensure fair competition for domestic operators?
- Navigating Hybrid Vessel Construction: How does a shipyard’s project management adapt when constructing a hybrid vessel with European-made engines? Hybrid technology is not yet prevalent in the U.S., and with 70 percent of the vessel’s weight needing to be American-made, a European-made propulsion system can exceed 20 to 25 percent of the weight, challenging compliance with the Jones Act. How are shipyards navigating these builds?
- Growth and Sustainability: Can the Jones Act support further growth and sustainability within the sector?
- Global Competition and Strategic Positioning: With increasing competition from China, how does the Jones Act affect U.S. maritime capabilities and global strategic positioning?
The session will also explore opportunities to leverage the Jones Act for the industry's benefit, addressing:
- Modernization and Innovation: How can the Jones Act evolve to meet modern demands while continuing to protect and promote the U.S. maritime sector?
- Regulatory Adjustments and Industry Innovation: Strategies to enhance the American shipbuilding industry to ensure competitiveness and meet future demands.
- Investments in Technology and Workforce Development: Emphasizing policy support and the role of the Jones Act in boosting U.S. maritime security amid global geopolitical shifts.
Attendees of the Jones Act breakfast will gain a comprehensive understanding of the current Jones Act landscape and its implications for the maritime industry. They will learn practical strategies for navigating regulatory conditions, optimizing operations within the Jones Act framework, and developing business strategies in response to the evolving maritime environment.
Planning to attend this year's International WorkBoat Show? Click here to register today!
