$679 million could go to waste? US wind power policy U-turn hammers ports and shipbuilding industry.
During Trump's administration, there was a policy setback for offshore wind energy, which significantly disrupted the U.S. shipbuilding port industries, leading to a loss of expected federal funding of more than $679 million. This policy shift triggered cancellations of ship orders and delays or halts in critical infrastructure projects needed for offshore wind development.
Among the affected companies were A.P. Moller-Maersk, which canceled plans to build specialized vessels, and Blount Boats, which stopped production related to offshore wind.
Ports such as Salem Harbor in Massachusetts and Humboldt Bay in California were dealt setbacks as projects the expansion of the offshore wind industry were postponed or abandoned.
Experts warned that these disruptions could slow the growth of the U.S. offshore wind industry and jeopard broader clean energy and economic goals.
Industry stakeholders called for a reinstatement of policy support to ensure investment stability and infrastructure advancement in the field.
In of this year, Trump signed an executive order aimed at revitalizing the U.S. shipbuilding industry while curbing China's strong position in the global shipping industry.
Recently, A.P. Moller-Maersk and Hapag-Lloyd diverted two container ships flying the U.S. flag from Chinese ports
Last
Over 10 million TEU orders! Chinese shipyards firmly occupy the dominant position in the new container shipbuilding market
Around 98.5 percent of the global containership fleet is built in China, South Korea and Japan, to analysis company Alphaliner. Mo
Next
US media exposes: US port charging plan has a "regulatory blind spot"!
CNBC exposed that there is a "bureaucratic regulatory blind spot" in the U.. Trade Representative's (USTR) port fee plan.The Conta
