Shipowners fear US protectionism

The decision from the US to promote LNG transport on US-flagged vessels could constitute an unfortunate precedent. It could potentially impact the export of shale oil and shale gas if the country lifts its ban on the export of crude oil, warns the International Chamber of Shipping.

Photo: Chesapeake

The shipowner association, International Chamber of Shipping (ICS), fears the US efforts to promote the use of US-flagged vessels for the country's LNG transport, could have unfortunate consequences for a potential future export of US oil and shale gas, if the current export ban is lifted.

This is made clear in a press release from the association, Monday, where ICS refers to US President Barack Obama signing a law in 2014, which is intended to promote the use of US-flagged tankers. This legislation is expected to speed up the processing of new licenses for LNG exporters who plan to use US-flagged gas-vessels instead of ships operated by foreign shipping companies.

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