MAERSK cuts 4000 jobs !!!!

[Captain Ted]

It will be interesting to see how far they go down.
AS often,, seemingly invincible companies falling the deepest when the fall comes.

below from the Maritime Connector

The world

[Phil K]

We have seen it all before with the VLCC's, and look what happened then!  New builds were straight out of the shipyards and into lay up, so will it be the Fjords again, but probably more towards China where the next cargo will come from.
I also predict that cruise ships will be next to look for work, how soon before a 150,000 gross size, or larger vessel gets laid up?

[Captain Ted]

As young sailor a old Capt told me: ordering ships in good times is the easy part, running them in bad is the virtue !!!!    How true !!!
Now it seems they got the bad time with the crisis and during the crisis they thought they can fix the problem by expanding the crisis through more and bigger ships. No idea where that mathematics comes from,, such behavior usually is only seen in governments and we know all how that works !!