JONES ACT CRUDE CARRIERS:

The first chart shows that the Jones Act crude carrier operators have completed the renewal of their fleets, settling at a new level that is about one third of the 1990 level of capacity, a reduction that reflects the reduction in output from the North Slope.

JONES ACT PRODUCT CARRIERS:

The second chart shows that the Jones Act product carrier operators were slow to renew their fleets but have now adding a significant amount of capacity.  Even so, the new level will only be about 40% of the 1990 level of capacity.  These figures should, however, be viewed in conjunction with those on the next two charts.

JONES ACT TANK BARGES (>5000 GT):

The third chart shows that the Jones Act tank barge operators have been systematically renewing their fleets ever since the passage of OPA 90 and are heading for a significant increase in its total capacity, about 75% above the 1990 level, with the obvious goal of taking market share from the product carriers.

JONES ACT PRODUCTS FLEET AS A WHOLE:

The final chart combines the gross numbers from the second and third charts to show the size of the products fleet as a whole, ships and barges.  The low point in capacity was reached in 2005: total capacity then began to increase, but recent cancellations of orders for both ships and barges have resulted in a new turn downwards, encouraged by the retirement of the remaining single-side, double-bottom ships and barges.  It looks as though the fleet will level off at about 80% of the 1990 level.  Since the Jones Act products trade has been remarkably steady for at least the past 20 years, it might be thought that some more new tonnage will be needed, but it should be remembered that this new fleet is a whole lot more efficient than the pre-1990 fleet.