OUT OF MIND
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» UFO NEWS ~ Strange cigar shaped objects flying through our sky plus MORE
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptyYesterday at 9:50 am by PurpleSkyz

» Spaceships Landed On The Moon Captured By Nikon Coolpix P1000, Real or Fake?
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptyYesterday at 9:37 am by PurpleSkyz

» Liquid water discovered inside a meteorite
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptyYesterday at 9:21 am by PurpleSkyz

» Clif High – The Woo Deal
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptyYesterday at 9:17 am by PurpleSkyz

» Self-Spreading Insanity: The Age of Contagious Vaccines
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptyYesterday at 9:08 am by PurpleSkyz

» The People Are Rising: Melbourne, Australia Freedom Rally May 15, 2021
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptyYesterday at 9:01 am by PurpleSkyz

» Biodigital Convergence: Bombshell Document Reveals the True Agenda
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptyYesterday at 8:57 am by PurpleSkyz

» Benjamin bla bla blah Fulford - 5/17/2021 - Human Sacrifice on Temple Mount Won’t Save Satanists
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptyYesterday at 8:53 am by PurpleSkyz

» My Thoughts on the ArVee by Anna Von Reitz
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptyYesterday at 8:49 am by PurpleSkyz

» FBI releases documents on Seth Rich’s murder
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptyYesterday at 8:37 am by PurpleSkyz

» The CDC is Suppressing Data?
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptyYesterday at 8:29 am by PurpleSkyz

» Princess of Kent Reportedly Develops Blood Clots After Getting AstraZeneca’s Covid Jab
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptySun May 16, 2021 4:17 pm by PurpleSkyz

» Charles Unleashed - ROSWELL DISCLOSURE - THE WHOLE TRUTH
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptySun May 16, 2021 10:27 am by PurpleSkyz

» Bad-clown Rising - Hologram Repair Inc
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptySun May 16, 2021 10:23 am by PurpleSkyz

» Flight crews saw UFOs 'every day for two years'
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptySun May 16, 2021 9:39 am by PurpleSkyz

» Vaccine Virtue Signaling And The Cult Of Woke
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptySun May 16, 2021 9:33 am by PurpleSkyz

» In Dracula’s Castle Vaccination Is Rewarded by Access to the Torture Chamber. What’s Plunging With the Needle?
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptySun May 16, 2021 9:17 am by PurpleSkyz

» ‘Look at These French Fries’ – their Bullshit Scamdemic rolls on
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptySun May 16, 2021 9:13 am by PurpleSkyz

» BBC Reporter Liz MacKean Who Sought To Expose BBC Pedophilia Ring Found Dead
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptySun May 16, 2021 9:08 am by PurpleSkyz

» Switzerland Cancels it Currency
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptySun May 16, 2021 9:03 am by PurpleSkyz

» ‘The Age Of Fear’, A Graduation Message For Terrifying Times
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptySun May 16, 2021 8:58 am by PurpleSkyz

» The Beasts Smell Blood
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!) EmptySun May 16, 2021 8:38 am by PurpleSkyz

You are not connected. Please login or register

OUT OF MIND » THE INSANITY OF REALITY » GOVERNMENT & THE NEW WORLD ORDER » Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!)

Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!)

Go down  Message [Page 1 of 1]

PurpleSkyz

PurpleSkyz
Admin
Lack of Shipping Demand Sends Big Ships to Scrap Heap (Trucking Next!)
Posted By: RumorMail [Send E-Mail]
Date: Tuesday, 16-Aug-2016 21:55:12
In Response To:  Mitch McConnell’s Freighted Ties to a Shadowy Shipping Company (RumorMail)



The Wall Street Journal reports that about 1,000 ships that have the combined capacity to haul 52 million metric tons of cargo will be dragged onto beaches, cut into pieces and sold for scrap metal this year. This is second only to the record amount of capacity of 61 million so-called dead weight tons that were scrapped and recycled in 2012.

The global economic slowdown is putting shipping through its most bruising period since the 2008 financial crisis. Companies including Maersk Line, a unit of Danish conglomerate A.P. Møller Maersk A/S, Germany’s Hapag-Lloyd AG and China Cosco Bulk Shipping Co. have 30% more capacity in the water than cargo. As the companies, mostly based in Europe and Asia, fight for bigger shares of the global market, freight rates have dropped so low they barely cover fuel costs.

In the five years through 2015, owners ordered an average of 1,450 ships annually. This year orders through July fell to 293 vessels, or 11.6 million tons, according to U.K. marine data provider Vessels Value.

“Freight rates are dismal,” says Anil Sharma, president and chief executive of U.S.-based Global Marketing Systems, the world’s largest cash buyer of ships for recycling. “So you either idle ships, if you can afford it, or recycle.”

Mr. Sharma said the typical age for recycling a ship is 30 years. This year the average age of ships getting scrapped is about 15 years.

The overcapacity problem has been exacerbated by China’s slowing economy and anemic growth in Europe. Last year, Chinese imports from the European Union fell nearly 14%; Chinese exports to Europe were down 3% in the period. In this year’s first quarter, Chinese imports from the EU fell 7% from a year earlier, a decline matched by exports to Europe.

In the past, recycling a ship has typically generated about one-quarter of the price of a new vessel of the same type and size. But owners say a sharp drop in the price of steel has cut the rate of return to an average of 10% to 15% of the price of a new ship.

Two years ago, in India, Pakistan and Bangladesh were paying about $460 a ton of steel. Last year it was $300 and it is now roughly $250, shipowners say. Officials at the Alang scrapyard—one of the world’s biggest, on India’s West Coast—said prices were likely to stay low through the rest of the year, as China is flooding the market with recycled steel.

Braemar ACM expects about 550 dry-bulk ships to be recycled this year, 29% more than last year and 48% more than in 2014. About 170 container ships are likely to be scrapped this year, compared with 85 last year and 164 in 2014. The scrapping of other ship types, such tankers, car carriers, general cargo ships and fishing boats, bring the year’s total to about 1,000 vessels.

Thanks to: http://www.rumormillnews.com



  

topspin2


Now this is a telling tale.....

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum