American Mariners Protest Chinese Vessel Operating Under Jones Act Waiver in Louisiana

RegulationGeopolitics
โดย GlobeNewswire·Read original
Summary · why it matters

Members of the Seafarers International Union protested outside Marathon Petroleum's refinery in Garyville, Louisiana, against the Chinese-flagged vessel Jin Zhou Wan, which has completed at least three domestic coastwise voyages under a temporary Jones Act waiver. The Jones Act requires cargo transported between U.S. ports to move on U.S.-built, U.S.-owned, U.S.-flagged, and primarily U.S.-crewed vessels. The Jin Zhou Wan is owned and operated by a subsidiary of COSCO Shipping, designated by the U.S. Department of War as a Chinese Military Company. The waiver was issued during the conflict with Iran to stabilize domestic fuel supplies and lower gasoline prices, but analysis by Navigistics Consulting and Reuters found it did not significantly increase fuel supplies or measurably reduce gasoline prices. The initial 60-day waiver was later extended for another 90 days, and Louisiana's congressional leadership, including Speaker Mike Johnson and Majority Leader Steve Scalise, recently joined dozens of House Republicans in urging President Donald Trump to allow the waiver to expire.

Impact on stocks 3

Aerospace & Aviation▼ · 1 stocks
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Marathon Petroleum Corp
MPC
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Protest at Marathon refinery over Jones Act waiver for Chinese vessel; waiver may affect fuel supply but impact on Marathon unclear.

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