Over capacity of shipping - Ships Nostalgia
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Over capacity of shipping

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  #1  
Old 9th April 2012, 22:14
borderreiver borderreiver is offline  
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Over capacity of shipping

See the following from today daily telegrapth = http://www.telegraph.co.uk/finance/n...scrapheap.html

This could cause further problems in employment. particular in view of high fuel costs .
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  #2  
Old 10th April 2012, 14:14
callpor callpor is offline   SN Supporter
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Quote:
Originally Posted by borderreiver View Post
See the following from today daily telegrapth = http://www.telegraph.co.uk/finance/n...scrapheap.html

This could cause further problems in employment. particular in view of high fuel costs .
A well researched article. It’s a very similar situation to the mid 1980’s where VLCC’s ended up with 0, yes zero value. ‘course, many of the brokers, analysts, economists and journalists of today were still in nappies then and haven’t really experienced a shipping slump – many of them, including newer shipowners don’t know how to manage the problem. What she doesn’t mention is the very significant negative equity of many of the major operators, which the banks have yet to seriously challenge. Still many more bankruptcies to come me thinks, some of those will be big “names”. The smart guys who have seen it all before, have got substantial sheet anchor cash piles and have been waiting for this moment in the cycle – watch them replace their fleets with new ships for 30 cents on the $ from distress sales. Glad I'm out of it this time round. Going to be tough, not only for crewing but also training and maintenance.
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Old 10th April 2012, 14:23
McCloggie McCloggie is offline  
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Discussing this today with relation to the FPSO market.

Could be bargains to be had for those operators who want a hull for conversion?

McC
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  #4  
Old 10th April 2012, 19:49
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Andrew Craig-Bennett Andrew Craig-Bennett is offline  
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Anyone want a 15yr old 1,700 TEU boxboat? Yours for US$500K over the demo value.

This isn't a recession.

When scrap prices hit US$ 86/Ldt (taiwan, 1986) THAT's a RECESSION!
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Old 10th April 2012, 19:51
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Andrew Craig-Bennett Andrew Craig-Bennett is offline  
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Bought a VLCC for US$5M in 1983; by the time we reactivated her in 1987 she had cost us US$12.7M, including the purchase price and interest; ran her for ten years, during which she paid back the US$12.3M, and sold her for US$8.7M.
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Old 11th April 2012, 01:25
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Varley Varley is offline   SN Supporter
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Andrew, Between 1981 and 1991 house prices just about doubled. A measure not of house value but of currency value. Not that much less between 87 and 97. Sounds as if that wasn't ace business or was that the point?
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Old 11th April 2012, 11:16
What the Fug What the Fug is offline  
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The Burrell were pretty good at managing the cycle
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Old 13th April 2012, 16:10
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Andrew Craig-Bennett Andrew Craig-Bennett is offline  
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Andrew, Between 1981 and 1991 house prices just about doubled. A measure not of house value but of currency value. Not that much less between 87 and 97. Sounds as if that wasn't ace business or was that the point?
It was; shipowning tends to be a great way to make a small fortune, provided you start with a big one!

A shipbroker, or analyst, unaware of the actual numbers, would have called that ship a "sucessful investment". She was not unsucessful, but as you say, compared to real estate she was a "Shanghai Loss"!

Last edited by Andrew Craig-Bennett : 13th April 2012 at 17:47.
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Old 2nd January 2013, 11:48
dave the wave dave the wave is offline  
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Ships Laid Up In River Fal 1950's

Does anyone have any ideas as to where I can find a list of ships laid up in the Fal in the 1950's. The river was chock a block in those days, especially in Tolverne Reach.

I remember Clyde Ranger, San Antonio and I think San Ambosio being in a trot by the King Harry ferry.

Any help would be welcome.
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