Anyone want an operator freighter for $1

Sure you can buy one for $1 , It is the attached debts that will make a dent in your bank balance.

I too read about it this morning. The global shipping market really is in the toilet at the moment. A slow down in China and fuel prices rock-bottom, raw material prices bouncing along the baseline. Not looking good.

This situation extends far beyond the US.

I bet, this "Panama Papers" will get one or the other shipping company in even more trouble. And specialized ship operators with only one field of operation like bulker or crude oil transport only are in real trouble at the moment. But with deversived operation and sufficient amount of multi purpose ships, one can survive. I still see "black figures" in my books . The biggest problem of most ship operators at the moment is the far to low equity-to-assets ratio. There are many shipping companies in business, that are of zero net worth.

As an hanseatic merchant I have learned, profit is the result of performance and not to be taken from substance.

"navigare necesse est, vivere non est necesse, sed sine vita non navigamus"

If only we could find such a company to run our local ferry life-line.

Condor was a local, family run business that was profitable and trustworthy. Now we are stuck with a trimaran that can only run in flat calm seas and keeps breaking down. The ship was basically dumped on us for £50mil as no one else in the world wanted the bloody thing. I can see why!

http://www.itv.com/news/channel/sto...erries-knows-it-has-to-improve-the-situation/

https://en.wikipedia.org/wiki/Condor_Ferries

Only surprise here is why they are not offering you twenty bucks to take these boats off their hands...
Gotta go back 30 years to visit numbers such as these.

http://wolfstreet.com/2016/04/17/china-ocean-freight-index-collapses-to-record-low/

http://www.zerohedge.com/news/2016-04-12/about-surge-baltic-dry-index

Interesting links there Loren