Comments on: Ghost Fleet of the Recession

By: leftback

leftback — Mon, 14 Sep 2009 17:57:17 +0000

Barry, that’s where they are keeping all The Cash on the Sidelines.

By: quantacide

quantacide — Mon, 14 Sep 2009 16:43:37 +0000

Idling empty ships are better than idling full ships off the coast of Cali, waiting for their goods to have a market — and waiting for those goods to go on a companies books.

By: TheTradingReport » Blog Archive » links for 2009-09-14

TheTradingReport » Blog Archive » links for 2009-09-14 — Mon, 14 Sep 2009 13:21:32 +0000

[...] Barry Ritholtz Sends Us to Simon Parry: Ghost Fleet of the Recession 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. [...]

By: PrahaPartizan

PrahaPartizan — Mon, 14 Sep 2009 12:52:38 +0000

Of course, if the global economy rebounds the way these vessels’ owners hope, then the price of crude resumes its ascent to triple digit figures and they won’t be able to operate them anyway. That would be the ultimate irony.

By: bobthegoblin

bobthegoblin — Mon, 14 Sep 2009 09:54:57 +0000

I live in Singapore, and for the last three years have owned a property overlooking the scene you have described and pictured. I can confirm that there has been little apparent change in activity in ships coming and going from the harbour, or the number of boats parked at any one time. I’m afraid Mr Parry’s original story appears to be somewhat speculative.

By: godly

godly — Mon, 14 Sep 2009 07:19:17 +0000

amazing pictures though. Telegraph Picked on the next world crisis. The next world crisis

By: bangkokobserver

bangkokobserver — Mon, 14 Sep 2009 05:44:42 +0000

If you looked out of the windows of offices in the financial centre of Singapore at any time in the last two years, you’ve been seeing a growing flotilla of empty ships. No place else for them to go but Johor. I don’t see any conspiracy here, just another Daily Mail journo with a good line in spin.

By: How the Common Man Sees It

How the Common Man Sees It — Mon, 14 Sep 2009 03:33:48 +0000

“There is some talk, of course, of yet another stimulus plan, but this would be like laying a fresh band-aid over a growing infection.”

I pity the sucker that will eventually have to pull that thing off

By: How the Common Man Sees It

How the Common Man Sees It — Mon, 14 Sep 2009 03:31:29 +0000

I keep hearing the range of 12% – 15% in the various article I read. So is the depth of the revenue correction 15%? How much of that is profit after all expenses are paid? Is that why Maudlin talks about us muddling through because we now have a bunch of zombie companies that have had their profit margins stripped from them and are now just wandering along waiting to get to the day when their revenue models start turning out profits again?

By: Onlooker from Troy

Onlooker from Troy — Mon, 14 Sep 2009 03:17:55 +0000

Best line from Hussman’s letter this week:

“There is some talk, of course, of yet another stimulus plan, but this would be like laying a fresh band-aid over a growing infection.”