Very often the issue with regulatory traps like this is nobody will risk the massive investment, when their entire business could be wiped out by the repeal of a little known law. Without the dredge act the investors on such a project would be out hundreds of millions, and left with a completely uncompetitive business. Who would risk that when there are people actively lobbying for repeal and doing so is such an obviously good idea?
Meanwhile the current US dredging companies are raking in fat profits from operating cheap low capacity ships, so they have no incentive. If you want to get in on the business the low risk high reward approach is to build a low capacity dredger, or adapt an existing vessel, so that’s what people do.
Meanwhile the current US dredging companies are raking in fat profits from operating cheap low capacity ships, so they have no incentive. If you want to get in on the business the low risk high reward approach is to build a low capacity dredger, or adapt an existing vessel, so that’s what people do.