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Idled Charter Box Ships Hit Record [Container Shipping]
The Journal of Commerce Online ^ | Sep 29, 2009 6:32PM GMT | Bruce Barnard

Posted on 09/29/2009 4:37:01 PM PDT by Vince Ferrer

Exceeding unemployed carrier controlled fleet for first time

The fleet of idled container ships controlled by charter ship-owners reached a record high in September and exceeds the number of unemployed vessels controlled and operated by ocean carriers for the first time.

The non-operating owner fleet without work has risen to 654,000 20-foot equivalent units as ocean carriers shrink their capacity and return chartered ships to their owners when they come off hire, according to Alphaliner, the Paris-based container shipping consultancy.

The carrier-controlled idle fleet stood at 643,000 TEUs and has fallen below the non-operating owners unemployed fleet for the first time since Alphaliner started tracking the jobless container fleet last October.

The total idle container fleet stood at 548 ships of 1.3 million TEUs on Sept. 28, representing 10 percent of total capacity measured in TEUs or 11.6 percent of the total number of cellular ships.

There are 379 non-operating owner ships without work compared to 169 idle vessels controlled by ocean carriers -- both owned and chartered -- according to Alphaliner.


TOPICS: Business/Economy; News/Current Events
KEYWORDS: globaleconomy; shipping
If there are going to be bankruptcies in the shipping industry, it will be the charter ship owners first. Carriers can reduce their fleets by allowing their charters to expire and returning the ships.
1 posted on 09/29/2009 4:37:01 PM PDT by Vince Ferrer
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To: Vince Ferrer

The next generation of public housing


2 posted on 09/29/2009 4:39:24 PM PDT by GeronL
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To: Vince Ferrer

Question: why are so many ships registered in Panama?


3 posted on 09/29/2009 4:39:29 PM PDT by tired1 (When the Devil eats you there's only one way out.)
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To: tired1
Question: why are so many ships registered in Panama?

Answer: Because when Samalli pirates capture them, the Panamanian Navy along with their special forces snipers make short work of the pirates.

4 posted on 09/29/2009 4:42:15 PM PDT by YankeeReb
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To: tired1

Tax breaks, I think.


5 posted on 09/29/2009 4:42:54 PM PDT by Vince Ferrer
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To: Vince Ferrer
"Tax breaks, I think."

And union avoidance.

6 posted on 09/29/2009 4:52:08 PM PDT by blam
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To: Vince Ferrer
Idled Charter Box Ships Hit Record

That's an "Eats, shoots and leaves" headline if I ever saw one. I wonder how many hit records Idled Charter Box shipped!

7 posted on 09/29/2009 4:52:44 PM PDT by Jagman (They comport, We deride!)
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To: Vince Ferrer

8 posted on 09/29/2009 4:53:20 PM PDT by blam
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To: Vince Ferrer
Idle container ships off Singapore...


9 posted on 09/29/2009 5:02:32 PM PDT by kanawa
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To: kanawa
It occurs to me that the best thing that could happen to many of these owner would be a tsunami
10 posted on 09/29/2009 5:46:54 PM PDT by Jagman (They comport, We deride!)
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To: tired1

Taxes.


11 posted on 09/29/2009 5:51:53 PM PDT by dools007
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To: Vince Ferrer
Your Ministry of Truth reminds you that the economy is recovering. We repeat: the economy is recovering. All hail Obama. That is all.

12 posted on 09/29/2009 6:03:29 PM PDT by Nick Danger (Free cheese is found only in mousetraps)
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To: Vince Ferrer

What this really means is that Imports and Exports are not happening and all world markets are in massive decline. Goods from China are not being shipped to the US. So the Chinese are suffering from or lack of spending too.

We worry all the time about the Chinese overtaking our economy but it can’t happen when we are not buying their goods and the rest of the isn’t buying too.


13 posted on 09/29/2009 6:07:19 PM PDT by ncfool (Cash for Clunkers - A big failure and Obama and rats want us to trust them with our healthcare!)
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To: GeronL

No joke. Some crafty folks have insulated, plumbed, electrified and decorated these boxes and made some very handsome backyard cottages. Stack them up and you’ve got multiple floors. I saw some examples in a magazine, and they look cool.

Why not low-income housing?


14 posted on 09/29/2009 7:11:19 PM PDT by lurk
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To: lurk

We use containers for housing in Afghanistan. Beats living in tent.


15 posted on 09/29/2009 9:01:29 PM PDT by IDontLikeToPayTaxes
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To: lurk

yes, why not? Doesn’t the military do something like that in Iraq?


16 posted on 09/30/2009 6:11:09 AM PDT by GeronL
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