Just Another Day in the Life of the Jones Act

When we began our career in ship finance many years ago, the busi­ness manager determined that we would avoid financing US Flag vessels because decision-making there was politically motivated, capricious and generally had nothing to do with economics. The one exception, and we are dating ourselves, was the financing of the Alaskan North Slope tanker fleet since they were bareboat chartered to the major oil companies which assumed the “political risk.”

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