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Ghostfleet Of The Recession

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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

http://www.dailymail.co.uk/home/moslive/ar...-Singapore.html

article-1212013-06435781000005DC-710_634x403.jpg

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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

http://www.dailymail.co.uk/home/moslive/ar...-Singapore.html

article-1212013-06435781000005DC-710_634x403.jpg

I thinking of the BTL opportunities!

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The biggest and most secretive gathering of ships in maritime history

What hyperbole! That "historic maritime gathering" is about as secret as a not very secret thing.

Unless they were referring to the inevitable secretions from the bilge tanks - no swimming at Sentosa for me, no Sir!

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It's OK. The recession is over, the stock market is rocketing upwards, house prices are recovering, bonuses are back, the world has a rosy future. These ships are just resting while their crews are on holiday getting blitzed out of their brains in Ibiza. The world's awash with money. Gordon will confirm what I say.

- eric c******l, harrogate, 13/9/2009 16:28

This comment at the bottom of the article must surely be from an HPCer!

Edited by M21er

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A very restrained article for the Mail-not once did they suggest housing criminals on board

no mention of immigrants, chavs or single mothers either.

something's not right.

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I grew up in Singapore and I used to windsurf past this ghost fleet every weekend.

It's a part of the way the Port of Singapore Authority manages the traffic in and out of the wharfs. However, when I was there working in July, the PSA guys said that volumes were way down...

GT

Edited by General Tapioca

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As the shipping industry teeters on the brink of collapse, the activity at boatyards like Mokpo and Ulsan in South Korea all looks like a sick joke. But the workers in these bustling shipyards, who teem around giant tankers and mega-vessels the length of several football pitches and capable of carrying 10,000 or more containers each, have no choice; they are trapped in a cruel time warp.

There have hardly been any new orders. In 2011 the shipyards will simply run out of ships to build

A decade ago, South Korean President Kim Dae-jung (who died last month) issued a decree to his industrial captains: he wished to make his nation the market leader in shipbuilding. He knew the market intimately. Before entering politics, he studied economics and worked for a Japanese-owned freight-shipping business. Within a few years he was heading his own business, starting out with a fleet of nine ships.

Thus, by 2004, Kim Dae-jung's presidential vision was made real. His country's low-cost yards were winning 40 per cent of world orders, with Japan second with 24 per cent and China way behind on 14 per cent.

But shipbuilding is a horrendously hard market to plan. There is a three-year lag between the placing of an order and the delivery of a ship. With contracts signed, down-payments made and work under way, stopping work on a new ship is the economic equivalent of trying to change direction in an ocean liner travelling at full speed towards an iceberg.

Thus the labours of today's Korean shipbuilders merely represent the completion of contracts ordered in the fat years of 2006 and 2007. Those ships will now sail out into a global economy that no longer wants them.

More jobs to add to the cost of the jobless recovery. I doubt ship orders will suddenly spring up over the coming couple of years.

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do you think there is noise pollution issues from these empty ships?

At least they are almost carbon neutral whilst anchored up.

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