31–40 of 224 posts
Amazing that this happens on top of such low prices for crude oil. What's going on? EDIT: Yes I read the article. Seriously, oil is so cheap and this still happened? It's just mind boggling to me.
This bankruptcy means that companies shipping goods are no longer going to be able to treat shipping as a fungible commodity and instead are going to have to price in a risk component as well. That suggests that the largest and best financed players are likely to be able to command a premium which will accelerate losses at smaller players. This would increase the spreads further and create a viscous loop. Does anybod…
They will just buy insurance, and the insurance companies will figure it out.
Earlier quoted context omitted.
Wonder if it'd be feasible and/or make sense for the owners of the goods to pool their money together in order to pay the docking fees so they could receive their goods.
It'd be a neat resolution, but that's basically telling one set of creditors to make a second set of creditors whole out of their own pockets. And there's likely thousands of them with multiple layers: eg, your new iPhone 7 is stuck on one of these ships. Are you the owner, or is Apple? or Foxconn? etc.
Amazing that this happens on top of such low prices for crude oil. What's going on? EDIT: Yes I read the article. Seriously, oil is so cheap and this still happened? It's just mind boggling to me.
This seems like a really good sign. We can only hope global shipping continues to shrink until we can get down to a level of consumer purchasing that is sustainable for the ecology of the planet.
So your solution to sustainability is for everyone to just accept a lower quality of life? Yea, good luck with that.
I think the entire point of sustainability is to avoid the much lower quality of life that would come with climate change and resource depletion.
This bankruptcy means that companies shipping goods are no longer going to be able to treat shipping as a fungible commodity and instead are going to have to price in a risk component as well. That suggests that the largest and best financed players are likely to be able to command a premium which will accelerate losses at smaller players. This would increase the spreads further and create a viscous loop. Does anybod…
This will undoubtedly have some effect, but I doubt anyone on Hackernews can reliably predict it.
Also of interest, they also did a game theory analysis of ocean liners: https://www.flexport.com/blog/game-theory-ocean-carrier-comp...
This seems like a really good sign. We can only hope global shipping continues to shrink until we can get down to a level of consumer purchasing that is sustainable for the ecology of the planet.
That's one way of looking at it. Of course, the more expensive shipping is, the less likely it is to ship inexpensive items, like food.
This seems like a really good sign. We can only hope global shipping continues to shrink until we can get down to a level of consumer purchasing that is sustainable for the ecology of the planet.
So your solution to sustainability is for everyone to just accept a lower quality of life? Yea, good luck with that.
Oh, yea, we would have to get used to paying more for some things, get used to paying Americans a decent wage, get used not being able to manufacture in the cheapest countries, get used to the poor having better opportunities to join the middle class, and probally a lot of more get's.
And yes--I know--our reliance on manufacturing in the cheapest country helps those poor people live better lives. Those people at Foxcon, and other Chinese/whatever countries workers seem like they are treated so well. These foreign countries care so much about the enviorment. Some of these countries have become so rich they built up their military--like China. Some foreign enterprising individuals become rich, and buy American houses, even though they don't live here. That last one is great.
At one time, we got along fine without the cheap goods from other countries--with the exception of one commodity--oil. Oh yea, the cheap cost of goods at Apple don't seem to be passed on to consumers?
Earlier quoted context omitted.
yes but that is the major fear the docks have. No debt holder is going to repossess a ship at sea they are going to wait for them to dock then file a court order to prevent them from undocking until the repossession proceedings finish. This means they are stuck at the dock taking up space the dock owners want to use to unload other ships so they just ban these ships from their docks letting another dock deal with it…
I don't understand how they can legally do that. When you repossess a truck you don't get to leave it at someone else's loading dock for free. Wouldn't it be the creditor's obligation to pay the fees or move it somewhere else to be moored?
Also, the ports don't want the money from extended docking fees, they want a flow of ships. Docking fees alone won't compensate all of the teamsters, longshoremen, etc. idled while the berth is blocked.