Of shipowners and taxes | 75 comments (75 topical, editorial, 0 hidden)

Re: Of shipowners and taxes (4.00 / 5)

There is no such thing as long-term shipping for Greek ship-owners now. The Chinese are preparing to squeeze them out and they really know it. So they are going for the short-term bonanza to move to some new business.That's part of what is currently happening in Greece behind the screens.

"Eurozone leaders have turned a €50bn Greek solvency problem into a €1,000bn existential crisis for the European Union." David Miliband

by Kostis Papadimitriou on Sat Jun 16th, 2012 at 11:38:01 AM EST
[ Parent ]

Re: Of shipowners and taxes (none / 0)

Furthermore, shipping rates are very, very weak, at least tanker rates. Many companies have lost 80% or more of their market values in the last year alone. Even the ones who have strong balance sheets and lots of long-term fixed-price contracts are down about a third (to my sorrow, as I have a small (now even smaller :p ) position in one of them).

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Sun Jun 17th, 2012 at 05:21:55 AM EST
[ Parent ]

Of shipowners and taxes | 75 comments (75 topical, 0 editorial, 0 hidden)

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