The Metals Company Inc (TMC)

[uber darthium]

The ship was classed by ABS in October 2021, according to press releases.

According to ABS, the ship must be drydocked twice in a 5 year period and cannot be more than a 36 month interval.

They haven’t done this…

“ABS (American Bureau of Shipping) classed ships generally undergo drydock inspections twice within a five-year period, with the interval between drydockings not exceeding 36 months, according to the Coast Guard. This includes a full drydock and internal structural examination.”

The boat sat off the west coast of Mexico at anchorage for well over a year and then sat parked at a scrap yard dock in South Korea for several months.

So before they get everyone all excited, at some point the bad news will be released about the ship being stuck in dry dock for an extended period and ungodly huge costs to reclaim their certification. Deferred maintenance is orders of magnitude greater than required scheduled maintenance.

Without ABS, the boat doesn’t get insured and likely gets locked out of ports. Getting a crew for an unclassed ship will also be very difficult

BE IMFORMED ABOUT YOUR INVESTMENT