View Full Version : The ghost fleet of the recession


k-arbogast
09-14-2009, 08:32 AM
Yup things are on the upswing....cough....cough.....:rolleyes:

Here, on a sleepy stretch of shoreline at the far end of Asia, is surely the biggest and most secretive gathering of ships in maritime history. Their numbers are equivalent to the entire British and American navies combined; their tonnage is far greater. Container ships, bulk carriers, oil tankers - all should be steaming fully laden between China, Britain, Europe and the US, stocking camera shops, PC Worlds and Argos depots ahead of the retail pandemonium of 2009. But their water has been stolen.

They are a powerful and tangible representation of the hurricanes that have been wrought by the global economic crisis; an iron curtain drawn along the coastline of the southern edge of Malaysia's rural Johor state, 50 miles east of Singapore harbour.

'We don't understand why they are here. There are so many ships but no one seems to be on board,' said local fisherman Ah Wat

It is so far off the beaten track that nobody ever really comes close, which is why these ships are here. The world's ship owners and government economists would prefer you not to see this symbol of the depths of the plague still crippling the world's economies.

So they have been quietly retired to this equatorial backwater, to be maintained only by a handful of bored sailors. The skeleton crews are left alone to fend off the ever-present threats of piracy and collisions in the congested waters as the hulls gather rust and seaweed at what should be their busiest time of year.

FULL STORY:
http://www.dailymail.co.uk/home/moslive/article-1212013/Revealed-The-ghost-fleet-recession.html#ixzz0R04TnM2N

k-arbogast
09-14-2009, 09:02 AM
Related to the above story:

Green Shoots? WHERE IS GLOBAL TRADE? - by Karl Denninger
12 percent of all global ships?

Decreases from 850 pounds to 180 (pound sterling) to move a container from China to the UK?

Bulk freighter charter costs going from $300,000 to $10,000 earlier this year?

Remember, this is the time when Christmas goods are on the way. You can't order something from China, have it produced, and then have it sent in a ship in a week. Uh uh. Those goods have been ordered now, they are in the pipeline for delivery now, or they're not coming.

They're not coming.

I know I keep harping on debt ratios, GDP and bailouts.

But what we really need to harp on is the LIES.

Lies told in 2007, 2008 and now, in 2009. Claims of "green shoots" by the media, by politicians, by industry.

Lies intended to get you to sink yourself further into debt peonage and slavery.

Full ticker:
http://market-ticker.org/archives/1428-Green-Shoots-WHERE-IS-GLOBAL-TRADE.html

I strongly suggest checking this out. Karl has a way of breaking down these issues in very logical terms.