Astounding number of ships around Singapore

Hi there Handy,

Suspicious or connected to the USA and English Reccession? What does it cost to run and staff these ships?

Certainly very interesting.

Husband just got back from a quick stop over in Singapore. Or "Tidy Land" as her refers to it.

Regards Jo
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I know all those guys who are quoted in the article. And yes shipping is in a funny place - remeber all that chat about the Baltic Dry Index. Well thats why the ships are there. The shipowners have taken these ships out of the market in order to limit supply - its called putting a ship into layup! When they do this they hope that the daily price of chartering (hiring' a ship will go up and this upward swing more than matches the cost of laying up a certain percentage of the worlds fleet.

BTW you should see how may ships are waitng of Australian Waters - anyone got a handycam facing dalrymple bay coal terminal will show that there are 50odd ships waiting there too..........
Aren't the ships off Dalrymple Bay Coal Terminal waiting to be loaded? As opposed to those at Singapore that do not have a "job" and are sitting idle until there is sufficient work?

Yes - congestion but still taking supply out of the equation. Once congestion eases and the ships in singers get back in the market there will be a massive over supply and hence more pressure on the markets..

I should add that the ships in Singapore arent just sitting there waiting for a job. They have been actively taken off the market. They are waiting on improved market conditions at which time the onwers will re employ crew etc etc