I know what this is…it is “the Producers” for the maritime world. collect way more money that the ship ever could cost to build, go tits up after her maiden voyage, keep all the extra cash plus the ship and let these “owners” attempt to get anything back with any recoverable assets thousands of miles from where they live and outside the reach of US Courts. Guaranteed, they won’t bother and this merry band sails away into the sunset drinking rum swizzles listening to Crosby, Stills, Nash sing “Southern Cross”. SHEER GENIUS!..but I am effing pissed I didn’t think to do this with my ship when I had her.
while I think this is all hooey, this might work if the vessel stays far away from the US ports and carries low value cargoes like copra which don’t require a time sensitive delivery. Of course, the crew will need to be paid nothing and live on rice, beans and fish.
either that or do a whole lot of smuggling