Jones Act Ships Competitive for US Fuel Exports as Freight Soars
The cost to export fuels from the US more than doubled since start of Russia’s war as global demand for American gasoline and diesel surged.
Photographer: Marcelo del Pozo/Bloomberg
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The global search for fuel after Russia’s war has thrust the US Gulf Coast into the role of a main supplier to the world, driving a new surge in demand for tankers to ship gasoline and diesel.
This thirst for US-made fuel is so great that it’s driven the cost of foreign-flagged vessels often used for exports to be on par if not higher than Jones Act ships. The latter typically commands hefty premiums as they exclusively move goods between US ports because they are required to be American-built, -registered and -crewed.