The ghost fleet of the recession. (Christmas, stats, economy, money)
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The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination - and is why your Christmas stocking may be on the light side this year
I keep hearing about how various economies in the EU and China are getting much better, yet to think of all those ships just sitting there idle seems to indicate to me that things sure aren't rosy yet.
Oh and btw... I looked this up with another ship traffic site and they show nothing. I may be doing something wrong or not checking the right box but this site doesn't show all of them.
Well, well. I follow port traffic numbers and they are down bigtime.
When stocks and such became so manipulated I went hunting for other "fundamentals" to follow to see if and when this recovery was happening. Port traffic numbers and BDI (Baltic Dry Index) are numbers that are not manipulated. Then again, not many people track these numbers. Most look at the DJIA "shooting to the moon" from investment bank trading programs
I worked on merchant tankers for 10 years, and I've been to Singapore about 10 times. There were always about 300 ships sitting there at anchor at any one time because it is one of the most strategic shipping ports in the world. I have video tape shot from the ship I was on in 1991 to prove it. I know merchant shipping is way down--almost 30%. It is really bad, and the guys that ordered the big 12,000 TEU container ships really messed up. But, I wonder how many above 300 are sitting at anchor in Singapore right now? Because 300 is just about normal for Singapore even during boom times for shipping. Everybody wants to take on stores and crew and fuel there.
Well, well. I follow port traffic numbers and they are down bigtime.
When stocks and such became so manipulated I went hunting for other "fundamentals" to follow to see if and when this recovery was happening. Port traffic numbers and BDI (Baltic Dry Index) are numbers that are not manipulated. Then again, not many people track these numbers. Most look at the DJIA "shooting to the moon" from investment bank trading programs
I keep hearing about how various economies in the EU and China are getting much better, yet to think of all those ships just sitting there idle seems to indicate to me that things sure aren't rosy yet.
Surely they would'nt be lying would they? I mean with all those jobs waiting to be filled and the smell of change in the air. Funny how it took how many years of deceit and scandal to ruin it last year, and suddenly exactly one year later they fixed it? But hey, if the economy tanks again now, this time it's the consumers fault because they won't go out and spend money and get into debt like they told us to.
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