President Donald Trump's administration is considering a proposal to create an international shipping registry in the U.S. Virgin Islands as part of efforts to enlarge the tiny commercial shipping fleet flying the
President Donald Trump's administration is considering a proposal to create an international shipping registry in the U.S. Virgin Islands as part of efforts to enlarge the tiny commercial shipping fleet flying the American flag, according to four sources familiar with the matter.
Increasing the number of U.S.-flagged vessels is important for Trump's administration because it would enhance the ability of the U.S. commercial shipping fleet to provide logistical support for the military in time of war, and ease Washington's dependence on foreign ships to transport supplies and equipment across sea lanes.
The U.S.-flagged fleet currently numbers around 187 vessels, of which only 80 are involved in international trade. This contrasts with at least 5,500 of vessels under China's control, according to industry estimates and assessments from U.S. lawmakers.
The U.S. flag registry has struggled to attract ship owners for decades due to higher costs, a bigger tax burden and multiple requirements such as having a crew of U.S. citizens. China has become the world’s top shipbuilding and shipping nation with 230 times more shipbuilding capacity than the U.S., a congressional report showed last year.
Using the U.S. Virgin Islands (USVI) could be the most efficient way to "strengthen American
Content Original Link:
" target="_blank">
