New Swedish Hydrofoil boat

https://www.tradeonlytoday.com/industry-news/candela-raises-additional-14-million?



The article says they are going to use this as a passenger ferry on Lake Tahoe. That's a Federal Waterway. I want to know how they are going to comply with the Jones Act?

Ike said:

https://www.tradeonlytoday.com/industry-news/candela-raises-additional-14-million?


The article says they are going to use this as a passenger ferry on Lake Tahoe. That's a Federal Waterway. I want to know how they are going to comply with the Jones Act?

Click to expand...

I thought the Jones Act says that the keel has to be laid in the USA. I believe that parts and assemblies may be imported.

Enforcement is fairly selective and congressional exemptions seem readily available for the right folks. I say this as mundane as possible, but a 40 million dollar project has gotta have a congressman that can be "encouraged" to help it through the Jones act exemption process.

I'm sure. The equity company, SEB Private Equity Group, is a Scandinavian company but they have offices in the US. Lots of money involved.

gonzo said:

I thought the Jones Act says that the keel has to be laid in the USA

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It looks like the whole boat is built in Sweden though, so it will be 'interesting' to see how they get around this - money talks (as always).

More info on the P-12 here. including the hydrofoil technology -
P-12 – The Fastest Electric Ferry https://candela.com/p-12-shuttle/

got to thinking about it. In the 70's the Coast Guard classified some passenger hydrofoils on the Hudson in NYC as experimental. But they were operated only for a short time. On the Great Salt lake 1979 or 80, they had hydrofoil tourist boats classed as experimental, but the salinity ate the engines. Both of those were made overseas.

Ike said:

I want to know how they are going to comply with the Jones Act?

Click to expand...

Same way Uber/Lyft rolled right over EVERY city's Taxi Commission that previously not even big city Mafia or street gangs would mess with, due to ability of TC to levy insane fines without any courts or judges involved.
Same way Paypal just kinda "popped up" as a rogue "bank" disregarding Secret Service, Dept of Treasury and EVERY US States various banking laws.
BTW, every nerd or High School or college club had those same ideas at least in late 1970s, but were told of most dire consequences including decades in Fed Prison (in the case of Paypal type ideas). "Gee, you kids are so smart! Why don't you call the Chairman of Chase and tell him they don't need to pay attention to all those silly banking laws, and save money firing his Legal Dept."

IIRC Uber/Lyft "on paper" are some sort of ride SHARING thingy. You aren't HIRING a driver or car, you are just chipping in for gas for a trip he decided to make on his own, or something.

So my question regarding BOATING is why can't Uber/Lyft model work? I'm thinking "legally maybe similar, but in reality having 'pirate' boat taxi service would entail a completely different level of life threatening situations requiring USCG and other government rescue it wouldn't be given the same sort of 'pass' as just cars". Also, legal Taxi service really sucks, and Uber/Lyft was a boon to a YUGE sector of society including pretty darn wealthy and influential individuals. Pretty much anyone who doesn't have a private limo on 24/7 standby, and even then many ultra-wealthy will want to go Low Profile and LARP as one of the peasants. That wouldn't apply to water going Uber/Lyft, which even if popular would be much more niche.

You had me at Mafia.

Dunno if it's all that complex, money gets donated to a congressman through some form of indirect donation for campaign or familial consulting fee. Congressman greenwashes it's virtue and asks for a congressional exemption to the Jones act. Both sides of the aisle approve since it's one big back scratch with public theater only on issues that effect the absolute minority.

Only person effected is a local yard that may or may not vote for the congressman and the fact it runs on unicorn farts and fairy dust means be can probably gain more voters with a single press release than he loses. They then push for appropriation for more of said items and it becomes the 6plus trillion omnibus that we have today.

Not positive the going rate for a congressman adjusted for 2024 dollars, but I'd guess it's a tiny percentage of 40 mil.