"It's Bordering Chaos": $14 Billion In Cargo Stranded At Sea, Crews "Go Crazy" On Hanjin Ghost Ships

Zero Hedge ^ | 9-8-16 | Tyler Durden

[dynachrome]

Sheesh. Even if the crews get a bit mutinous, sail to ???

Or maybe they'll be taking a look-see at what's in the containers?

[E. Pluribus Unum]

I see the storyline for a pretty good horror movie.

[Pearls Before Swine]

What will this do to the BDI? (Baltic Dry Shipping Index)

[CivilWarBrewing]

"His ship was carrying lubricants and.."

"WAS"?

[MichaelCorleone]

Dropping off at LA probably means Christmas shopping will go on as usual. At least in the lower 48.

[ptsal]

go to port.... nothing the locals can do about it

[dirtboy]

This could have some serious ripple effects.

[hadaclueonce]

Paging Tom Hanks...

[Wilderness Conservative]

This is actually a pretty big deal. A major indicator of the world economic health. Freight volume is way down all over.

[Alas Babylon!]

Maybe they slipped out of the hold. I hear lubricants can be pretty dang slick!

[lafroste]

Doesn't the Law of the Sea, which applies to ships in Intl waters, say that any derelict (defined as no crew on board) becomes the sole property of whoever finds her, boards her and wants her, including everything on board?

Sounds like there are major league pirate opportunities to plunder all that cargo legally. Once the ship is derelict and commandeered, it's your ship now. Screw the owners of the vessel or cargo.

[PAR35]

Los Angeles, Singapore and Hamburg

None in Korea, I notice.

[PAR35]

go to port.... nothing the locals can do about it

Except seize the ship.

[HANG THE EXPENSE]

I believe according to maritime salvagers law that is correct

[Tilted Irish Kilt]

Ping

[butlerweave]

I ordered 2 watches in May and now I know where they are

[Diana in Wisconsin]

[mrsmith]

JIT: Just In Time (ordering)
What a great business idea that was!

[exit82]

Baltic Dry Index was 792.00 today.

Lowest was 290 on 2/10/16.

[Alberta's Child]

Sure there is. The authorities can seize the ships to ensure that the creditors in their own countries get paid. That’s the whole point of the news story.