Shipbroker Notes : Jones Act

In order to be Jones Act, a ship must be U.S. built, owned, crewed, classed and flagged. The cost to build vessels in the U.S. is 3-4 times more than Korean or Japanese yards, due primarily to higher labor costs. Additionally, Jones Act vessels operate in a protected market so they generally experience much more stable and higher freight rates.
Second hand - and obviously newbuild - values of Jones Act vessels being substantially higher than for non-Jones Act vessels of the same type, size, age. There are no U.S. built VLCCs and the newest U.S. built Suezmax is from 2006, hence the most valuable tanker is the MT Liberty Bay (115,000-deadweight-ton Liberty Bay is 820 feet long and has capacity to carry 800,000 barrels of oil.  )- the 2014 Aker-built Aframax.