Cato Institute‘s Colin Grabow writes:
Earlier this week an unusual event took place: a U.S. shipyard delivered an oceangoing merchant ship. Named the Janet Marie, the vessel will transport goods between Hawaii and the U.S. mainland. Anyone tempted to toast the new ship as a symbol of U.S. shipbuilding prowess, however, should keep the champagne bottle corked. More an embarrassment than cause for celebration, the containership serves as a rich symbol of the heavily protected U.S. shipbuilding industry’s myriad shortcomings.
The most glaring problem with the Janet Marie is its price. Although the exact figure has not been published, its George III sister ship—a vessel delivered last year with the exact same specifications—was revealed to cost “$225 million‐plus.” It’s a safe bet Janet Marie did not cost less. In comparison, two similarly‐sized containerships were ordered from a South Korean shipyard in 2021 for $41 million each. The vast difference ($184 million) is no anomaly, comporting with previous assessments from maritime industry observers that U.S.-built cargo ships are five times the price of those constructed abroad…
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