jones act

Hanwha's U.S. Shipyard Orders Highlight Cost Gap as EV Shift Looms for Oil Demand

Hanwha's Philadelphia shipyard is central to Washington's commercial shipbuilding revival, but its orderbook relies largely on its own shipping affiliates rather than independent owners. New Jones Act tankers cost over $240 million against charter rates near $90,000 a day, while the IEA sees EVs displacing 1.7 million barrels of oil per day in 2025 and about 5 million by 2030.