Reeve & Associates and Estudios Técnicos, Inc. have released a new fact-based study, the first such report since Hurricane Maria, which sets the record straight on the economic impact of the Jones Act in Puerto Rico and the importance of the dedicated closed-loop service that state-of-the-art Jones Act carriers of the American maritime industry provide to the island. A few of the key findings in the report are the following:
- The Jones Act has NO impact on either retail prices or the cost of living in Puerto Rico.
- Foreign vessels can deliver directly to Puerto Rico from foreign countries.
- There is NO Jones Act freight rate premium for ocean transport.
- Southbound service is vital to Puerto Rico consumers, while the northbound service is a key contributor to economic development on the island.
- Carriers provide highly effective logistics systems, including economical and environmentally friendly vessels, that ensure a high level of supply chain efficiency.
The full report can be found here: https://www.americanmaritimepartnership.com/puerto-rico-economy/