This is how much the US Jones Act costs offshore service companies

The Jones Act cuts off Danish offshore service companies and suppliers from competing in the US market. This also applies to the offshore wind energy sector, which is currently is the process of establishing itself in the country. The OECD has now calculated the cost of the controversial regulation.

Photo: Deepwater Wind

It will soon turn 100 years old and is highly unlikely to to be repealed any time soon during the current presidential administration's term.

We are talking about the Jones Act, officially titled The Merchant Marine Act of 1920. The act's formal purpose is to protect US national security interests, however, in reality it has the inherent effect of insulating the US shipping industry against foreign competition.

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