With the markets still at historical lows (despite the occasional upward flutter) shipowners and shipyards continue to struggle, some even going out of business.
So what happens to those ships when the companies controlling them go belly up?
They can be scrapped (if they are old), sold if the market permits or ownership is transferred to the financiers who then have the headaches of working out how to generate income with these behemoths of the sea.
The net result is that prices for ships drop (sale prices) and the markets consolidate. Once again the reputable larger companies are picking up bargains left right and center. Reputable shipping pools are being inundated with poorly clients desperate for help..
Interesting to see that TMT (today makes tomorrow) head honcho Nobu Su is stepping down after what can only be described as an incredible career. i can remember 10-15 years ago when his name first emerged linked to deals that seemed unbelievable in timing, scale and audacity. What a ride it has been.
And let me be the first to quash those rumours that the Virtual Shipbroker has been personally handpicked by Nabu himself to take over at TMT...
I asked my tarot card guru and he said - "VS my son keepeth doing not much as not much is plenty under the sun"
- The Virtual Shipbroker
- Hi. I am a shipping company director, transport academic, author, family man and all round nice guy. I have worked as shipbroker, shipowner, freight trader and bulk charterer, in senior positions, with some of the largest and most disrespected (joke) companies in the world. Ask my advice on all things shipping and you will receive my blunt and always honest answer. Hang around to learn more about chartering and ship broker salaries, chartering and ship broker jobs, chartering and shipbroker recruitment agencies, cheap freight, maritime education, chartering and ship broker qualifications, become a ship broker, tips on how to be a successful bulk shipping executive, philosophy, Zen and the art of shipbroking, and much more. Yours The Virtual Shipbroker (recently proclaimed the guru of shipbroking) Copyright © 2009-17 by Virtualshipbroker