Finance News

USA Fleet 4th Most Valuable in the World

The Amercian owned fleet is worth $47 billion and currently ranks the 4th most valuable fleet in the world. US shipping interests are focused heavily on the offshore industry, tankers, and container industry.

A significant of this value is generated by the steep prices for US built units able to work in domestic trade. Foreign flag vessels cannot move cargoes from one US port to another due to Jones Act restrictions. The concentration in tanker ownership is not as negative as it is for internationally flagged units. The Jones Act tanker market has rebounded from the high $20k/day range in 2017 to its current market levels around $50k/day.

603fc7 f99b9cc3a2e54795903713bf28185a33 mv2Offshore units should rebound in value over the next several years as oil price increases are expected. This will lead to more employment opportunities in the US Gulf and off the coast of Mexico. Bulker and container valuations should boost States based owners as the year progresses.

Source: VesselsValue

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