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A Tale Worth Repeating

We have a simple business. We fill empty holds with cargo and move the goods where directed. There is no cheaper alternative to moving raw materials and finished goods globally, leaving shippers at our mercy in what might be considered, in its largest sense, an oligopolistic market. But for the volatility of oil prices, our costs are relatively inexpensive. Operations with foreign crews are cheap and maintenance can always be deferred. A capital market that did not price in risk and insurers who also lost sight of risk while they sought market share. Could there be a more idyllic world?

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Written by: | Categories: Marine Money | January 1st, 2012 |

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