Now that former US President Donald Trump has virtually cemented his return to the White House, his focus will turn to building a team to lead his administration.
His last presidency had figures that were well respected in shipping circles.
They included commerce secretary Wilbur Ross, a billionaire whose private equity empire has invested in ships; transportation secretary Elaine Chao, a former US Maritime Administration official who is the daughter of New York shipowner James Chao; and maritime administrator Mark “Buz” Buzby, a rear admiral who had commanded the US Navy’s shipping arm — the Military Sealift Command.
None have been named as candidates for a return. Chao and Buzby resigned after Trump supporters stormed the US Capitol to block certification of the last presidential election.
Ross, who is 86, stuck with Trump until the end of his presidency and has been reported to be involved in fundraising for his latest campaign.
Here are some potential candidates for key posts this time around who are familiar to the shipping industry:
Mike Waltz
Few members of Congress have US shipping on their minds more than Florida representative Mike Waltz, who has long been considered a candidate for Trump’s defence secretary.
Politico also reported that he may be a candidate for secretary of state, the US government’s key foreign policy position.
A strong advocate for Trump who was re-elected on Tuesday, the Republican Waltz has been working with Democratic senator Mark Kelly on the Ships for America Act, which aims to revitalise both US-flag shipping and shipbuilding.
His concerns over the economic and security vulnerabilities facing the US because of the minuscule shipping fleet under its flag and its small shipbuilding capacity relative to China is seen as positive in domestic maritime circles.
Trump’s view on the Ships for America Act is not clear, but some shipping experts in Washington believe the administration may be swayed by its goal of competing with China’s maritime strengths.
Waltz’s support of Ukraine in its war with Russia could temper the views of the administration, as it contrasts Trump’s stance.
The president-elect has expressed views that favour ending the conflict — which could mean cutting off military aid for Ukraine and rolling back sanctions against Russia that have reshaped energy trades.
Brent Sadler
One shipping lobbyist in Washington told TradeWinds that the Heritage Foundation’s Brent Sadler may be a candidate for US maritime administrator. And if he is not, he may have a say in who is.
A senior research fellow at the foundation who is a veteran of the Navy, Sadler has advocated for a “revolution in American shipping” so that there are enough US-flag vessels to support the military and stand up to China.
The Jones Act, he argued in a 2023 report, has failed to do that. The cabotage law requires US-built ships controlled and crewed by Americans to carry domestic cargoes, and the Heritage Foundation is a well-known opponent of the law.
The foundation is also seen as a key guide into a future Trump administration, as its Project 2025 project involved several members of the president-elect’s previous government.
The project proposes transferring the US Maritime Administration, known as MARAD, to the Department of Homeland Security and repealing the Jones Act, although Sadler has said that a full repeal is not necessary.
Howard Lutnick
Two leaders of the financial world who have dabbled in shipping are reported to be on Trump’s list of candidates to lead the Treasury Department, which manages federal finances, sets economic policy and is in charge of sanctions.
Politico reported that one of those candidates is Howard Lutnick, who leads Cantor Fitzgerald and BGC Group.
New York investment bank Cantor Fitzgerald was once heavily involved when shipping companies began storming US stock exchanges.
BGC Group will also be familiar in shipping circles because of its ownership of Poten & Partners, a ship and energy commodities broker, and its recent takeover of OTC Global Holdings.
Lutnick is already playing a key role in setting the pieces of the future Trump administration, as he serves as co-chair of the transition team.
John Paulson
Bloomberg reported in March that Trump has floated hedge fund titan John Paulson as a treasury secretary candidate.
Paulson is best known in shipping circles for his role in the Overseas Shipholding Group bankruptcy.
His Paulson & Co pumped $200m into the tanker owner in a 2014 recapitalisation deal, allowing it to re-emerge from Chapter 11 bankruptcy protection.
John McCown, a shipping industry veteran who was a senior vice president at Paulson at the time of the deal, told TradeWinds in July of this year that the firm saw value in OSG’s position in the Jones Act market.
The company was split into two, hiving off the foreign-flag tanker fleet as International Seaways.
Garret Graves
Among candidates thought to be in the running for transportation secretary is congressman Garret Graves, according to Politico.
The post would put him in charge of ports and of overseeing MARAD.
The Republican is looking for a new job after the lines of his district were redrawn and he decided not to run for re-election.
He serves on the House of Representatives’ Transportation and Infrastructure Committee, although not on its maritime-focused subcommittee.
Representing Louisiana, he has voiced support for the Jones Act.
“Is it a protectionist measure?” he told the Washington Examiner in 2018. “Absolutely. It protects our national security, it protects our families, it protects our economy.”
Sam Graves
The other Graves on the same committee is also seen as in the running for the transportation secretary job, according to Politico.
Sam Graves, who represents Missouri, is chairman of the House Transportation and Infrastructure Committee.
Earlier this year, Graves was among a bipartisan group of congressmen who called on the Federal Maritime Commission, which oversees international shipping, to regulate global shipping exchanges.
They took particular aim at the Shanghai Shipping Exchange.
“It currently has a stranglehold on rate indexes to and from the China region, presumably intending to become the industry benchmark. This would be a troubling outcome for American shippers and global commerce,” they wrote.
He has also voiced support for the Jones Act.
