These ships are going nowhere

It’s easy to play with numbers to make them look good or bad, but some things don’t change. The economy is based on trade, and if the ships aren’t moving we’re not in a good place.

ships These ships are going nowhere

Just off the coast of southern Malaysia there is a ghost fleet forming. Right now there are over 500 freighters there with no cargo and no crews. An Aframax oil tanker that can carry 80,000 tons of cargo would have cost $50,000/day to hire a year ago – today costs just $5,500.

What we see in the physical world is more often an accurate representation of reality than the numbers we read. 12% of the world’s container ships are doing nothing right now, with that number expected to rise to 25% within a few years.

Are we still sitting in the calm before the real economic storm?

By Ross Hill - September 18th, 2009 at 6:52pm with 621 views

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  • Reminds me of an old proposal that it would be more efficient to use tankers to transport water around Australia to where it is needed - when it is needed - rather than build pipelines.
  • Great insight man. There are so many different figures you can quote about how well or poorly the economy is doing. But what's important is finding the real story.

    I think you are probably right. These boats ARE the real story...and like you say, they're not going anywhere.
  • stevesammartino
    This is great example of seeing is believing. The written word is usually the opinion of the writer. The physical world is the reality we face in life and business.

    Steve.
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