Containers

Episode 5: The America-First Ships

5 snips
Mar 28, 2017
Ask episode
AI Snips
Chapters
Transcript
Episode notes
ANECDOTE

El Faro Tragedy

  • The El Faro sank in 2015 during Hurricane Joaquin, resulting in the loss of all 33 crew members.
  • The captain chose a faster route despite warnings, highlighting the pressures within the American shipping industry.
INSIGHT

Outdated American Fleet

  • The sinking of El Faro exposed the outdated state of the American fleet, with ships significantly older than the global average.
  • This is a structural problem due to the tiny market and high cost of new American-made vessels.
INSIGHT

Jones Act Paradox

  • The Jones Act creates a costly paradox: high shipping costs for Americans but insufficient funds for fleet modernization.
  • Despite this, many American maritime workers support the Jones Act, viewing a merchant marine as a national necessity.
Get the Snipd Podcast app to discover more snips from this episode
Get the app