No cargo ships? | Page 2 | Emergency Preparedness | Forums

Still not a whole heck of a lot of movement, an article from the Maersk CEO

http://www.businessi.....ade-2016-2

not looking good, just realized something today, I have been waiting on a piece from smithy that they get from china, they tell me they expect it next week, they have been saying that for 4 weeks

Goldenport, one of the last shipping companies left on the London Stock Exchange, has delisted from the market and sold off six of its remaining eight vessels for $1 (69p) each.

The giveaway reflects the most dismal shipping conditions in decades, caused by economic slowdown in China combined with an oversupply of vessels due to a building spree during a previous boom.

The Greek owners are looking for buyers for two remaining vessels and are taking Goldenport off the stock market, saying it no longer makes sense to list shares which have dropped from highs of £50 in 2007 to less than 1.5p.

John Dragnis, the chief executive of Goldenport, said the company’s lenders and shareholders had agreed to the fleet sell-off at a time when the company had debts of more than £100m to RBS and other banks. “The value of the vessels is less than the value of the loans due to extreme market conditions.”

more http://www.theguardi.....ious-owner

Talked to Smithy yesterday, the product I was waiting for hasn't even left china yet, they said it would be a minimum of 8 weeks till they received them