Hornbeck Offshore Services (HOS) says it obviously welcomes long-awaited changes to Jones Act interpretation that will keep foreign subsea vessels out of the US Gulf of Mexico (GoM).
But the measure will make no material, short-term improvements to the GoM subsea market, in part because most of the foreign ships have already fled the area due to lack of work.
Foreign subsea vessels, including many expensive Norwegian ships, have been able to carry out work in the GoM, despite their lack of Jones Act status, for the past 40 years, partly because of the way subsea equipment is interpreted.
Although
