Jones Act says any ship going from America to America
Mainland, HI, Guam, Alaska, Puerto Rico, etc must be American company, American made ship, and American crew.
"American ship is the kicker"
you can get a ship built in many other places for 1/20 the price that it costs to have them made in the U.S.
This act prevents foreign vessels from handling any domestic shipping.
Maersk ships can come from China to here but then they have to leave. They cant go from China to Alaska to Tacoma, etc
It is cheaper to ship a container from the Us to china than it is to ship it from Tacoma to Anchorage because of the high prices associated with American vessel costs.
As a result all the foreign carriers are building these massive boats that are 5-10 knots faster, burn less fuel and carry more freight.
Our ships were still the old ones left over from the 50s because we couldn't afford to get new American made ships.
That has very little to do with why my company is going out of business.
There was some illegal crap going on and its all public:
http://www.justice.gov/opa/pr/horiz...fixing-coastal-water-freight-services-between
A lot of lawsuits came out of that.
Additionally the company was artificially inflated to double its price and sold twice in a year
With a value of 150 mil, it was sold for 300 mil and 9 months later sold again for 600 mil
When the dust settled this company had 450 mil in debt now and then the illegal stuff started and we were up to 750 mil in debt at one point. Around then, we got kicked off the NYSE and the spiral continued.
The IT job there was awesome but the folks at the top effed it up for everyone. A few guys went to jail but no worries, the CEO got let go and was given something like a 90k per month pension. They showed him!