Click for MotorCheck Click for Abeking Click for Westport Click for Comfort Click for Mulder

Anyone want an operator freighter for $1

Discussion in 'General Yachting Discussion' started by Capt J, Apr 23, 2016.

You need to be registered and signed in to view this content.
  1. Capt J

    Capt J Senior Member

    Joined:
    Jul 11, 2005
    Messages:
    14,432
    Location:
    Fort Lauderdale
  2. K1W1

    K1W1 Senior Member

    Joined:
    Sep 30, 2005
    Messages:
    7,388
    Location:
    My Office
    Sure you can buy one for $1 , It is the attached debts that will make a dent in your bank balance.
  3. Fishtigua

    Fishtigua Senior Member

    Joined:
    Jul 20, 2007
    Messages:
    2,937
    Location:
    Guernsey/Antigua
    I too read about it this morning. The global shipping market really is in the toilet at the moment. A slow down in China and fuel prices rock-bottom, raw material prices bouncing along the baseline. Not looking good.
  4. Capt J

    Capt J Senior Member

    Joined:
    Jul 11, 2005
    Messages:
    14,432
    Location:
    Fort Lauderdale
    Here in the U.S., whenever fuel prices are down so are all your scrap metal prices such as scrap aluminum, copper, steel, etc.
  5. K1W1

    K1W1 Senior Member

    Joined:
    Sep 30, 2005
    Messages:
    7,388
    Location:
    My Office
    This situation extends far beyond the US.
  6. HTMO9

    HTMO9 Senior Member

    Joined:
    Jan 13, 2009
    Messages:
    1,670
    Location:
    Germany
    I bet, this "Panama Papers" will get one or the other shipping company in even more trouble. And specialized ship operators with only one field of operation like bulker or crude oil transport only are in real trouble at the moment. But with deversived operation and sufficient amount of multi purpose ships, one can survive. I still see "black figures" in my books :). The biggest problem of most ship operators at the moment is the far to low equity-to-assets ratio. There are many shipping companies in business, that are of zero net worth.

    As an hanseatic merchant I have learned, profit is the result of performance and not to be taken from substance.

    "navigare necesse est, vivere non est necesse, sed sine vita non navigamus"
  7. Fishtigua

    Fishtigua Senior Member

    Joined:
    Jul 20, 2007
    Messages:
    2,937
    Location:
    Guernsey/Antigua
    If only we could find such a company to run our local ferry life-line.

    Condor was a local, family run business that was profitable and trustworthy. Now we are stuck with a trimaran that can only run in flat calm seas and keeps breaking down. The ship was basically dumped on us for £50mil as no one else in the world wanted the bloody thing. I can see why!

    http://www.itv.com/news/channel/sto...erries-knows-it-has-to-improve-the-situation/

    https://en.wikipedia.org/wiki/Condor_Ferries
  8. Rodger

    Rodger Senior Member

    Joined:
    Mar 23, 2005
    Messages:
    832
    Location:
    St.Catharines
    Shipping through the St. Lawrence Seaway is slow this year. Two Canadian shipping companies Algoma Shipping and Canada Steamship have only one third of their boats out this year. Lower Lakes Shipping looks like it may close. Algoma and CSL have built twelve new boats over the past four years in China and getting ready to scrap the old ones, but scrap steel is at an all time low so they will hold on to them foe awhile.
  9. Loren Schweizer

    Loren Schweizer YF Associate Writer

    Joined:
    Apr 20, 2004
    Messages:
    1,352
    Location:
    Coral Gables/Ft. Laud., FL
  10. K1W1

    K1W1 Senior Member

    Joined:
    Sep 30, 2005
    Messages:
    7,388
    Location:
    My Office
    Interesting links there Loren