Ander's Market Theories

[AnderL]

yeah too bad the credit crunch didn't happen before the overbuild of cargo ships. I think what may happen next is a flood of ships being sent to salvage because the companies are not able to break even on charters.

in regards to crude tankers, there was a serious build up expected for 2009, but a lot of these newbuilds are bought on credit. Its the option to buy that they are purchasing. With the way things are going a lot of companies are walking away from the contracts because their credit lines evaporated.