US shipyards look to Washington to revive their fortunes

The impetus that reignites US shipbuilding might not come from the yards themselves, but from Washington DC.

There is a movement in the nation’s capital to impose that certain percentages of US LNG and crude oil exports be carried on US-flagged ships — a move that would effectively force shipowners to commission newbuildings from domestic shipyards.

The bill proposing the Energizing American Shipbuilding Act, is the second attempt in as many sessions to enshrine the concept in law.