>> Shipping lines trying to offload vessels to reduce the size of their fleets are finding no buyers, causing prices to tumble.
Wonder if those things make good yachts. Might work OK for a redneck like me.
Bailout bait.
Step 1. Arm yourself (always step 1).
Step 2. Buy container ship.
Step 3. Anchor it just in international waters off LA/NYC/SF/Miami/Houston.
Step 4. Arrange connectivity and power.
Step 5. Rent out empty storage containers.
Step 6. Franchise fishing boats as sea taxis.
Step 7. Profit.
The companies that will really disappear, because their business model has the least flexibility, is the ship leasing companies. They own ships, but only to lease them to other carriers who ship cargo. The carriers are letting the leases expire, and sending the ships back to their owners, in order to reduce their own capacity. It is easier to survive as a carrier with reduced capacity than a owner who can’t lease out the ships, and has no customers of their own.
Well, the good news is that landfills won’t be buried under the crap they would have been carrying.
Yes they may go bankrupt, but in the next few years container ships with a carrying capacity of 15,000 TEU’s will be completed.
Plans are being made to produce container ships by 2020 that will carry 20,000 TEU’s. (TEU-twenty foot equivalent containers).