New samsung heavy 21,000 TEU ship

[QUOTE=Mate_Zac;160074]It’s a shame that here in the port of wilmington NC we can’t handle any ships larger than about 4,500 TEUs. So these new ships don’t do us any good[/QUOTE]
The only port on the east coast that can accommodate these behemoths right now is Norfolk. The MLLW for getting into Hampton Roads is 55 ft. New York Harbor is been aggressively blasting rock and working on raising the Bayonne Bridge to the same height as the Verrazano Bridge (215 ft), to compete with Norfolk as the mega hub on the eastern seaboard. The triple E class (the big Maersk ships) are similar in size to this vessel, have a max draft of 55 ft. And this is the ironic part of a ship of this size - the COI for the the triple E class is 16…freaking 16 people!!! Gentlemen, it seems that technology is moving at the speed of light sometimes. Just wondering how far all this automation/technology is going to evolve and possibly replace mariners.

You are right! I know herein Wilmington NC our draft IS 42 feet inner Harbour. I just wrote a report about increasing to 55 feet an overhauling the width to accomDate the larger shipS. we can only handle Panamax vessel and at capacity the triple e handles 18,000 which is more than4 times what we can do now with one ship. If we could take the400 ships a year we did in 2014 and made only 50of those the larger ships we could do way more than the 12.9 billion dollars in output we did last year

[QUOTE=PaddyWest2012;160170]But still they talk of overtonnage. So are they scrapping 4-5,000-TEU ships or 2-10,000-TEU ships for every one of these new suckers they pump out? I haven’t seen any evidence of that. All I’ve seen is a glut of new construction that these self same companies claim they don’t need![/QUOTE]

Everyone talks of overtonnage but it is not their new ships that is causing the problem. It is the other guys newbuildings and failure to scrap ships that is resulting in overtonnage.

[QUOTE=Chief Seadog;160190]Everyone talks of overtonnage but it is not their new ships that is causing the problem. It is the other guys newbuildings and failure to scrap ships that is resulting in overtonnage.[/QUOTE]

Where are these ship owners getting the money to build these things if the market is so over capacity? Are they taking out of their cash or borrowing? If they are borrowing who is lending and why are the lenders lending if indeed the market is over capacity?Surely a lender would not see what everyone else sees, or is there something else at work? In my experience neither ship owners or lenders care much for long term viability of the industry they are only interested in the next quarters up tick in stock price which is how they get their bonuses and cash in their stock options. The decision makers make themselves personally rich, the corporation and stockholders are shills, not to mention the employees. See Frontline’s [ FRO] 10 year stock price and others for how this works. Follow the money…

Companies with the lowest cost per TEU are more likely to survive periods of low rates.

If over capacity drives rates down companies running the big ones will be at an advantage.

[QUOTE=tengineer1;160195]Where are these ship owners getting the money to build these things if the market is so over capacity? [/QUOTE]

Subsidies from governments that are not afraid to support their domestic shipbuilders and ship operators. That is why our economy is tanking and former 3rd world nations are kicking our ass in just about every area where the USA used to be a world leader.

Their political and industrial leaders support their own country, our politicians support themselves and their international handlers while our business leaders look for profit above everything.

Dear god. It’s hideous.