The ships of Hanjin six months after it went bankrupt
Real news: Six months ago the shipping company Hanjin went bankrupt, stranding its 96 container ships worldwide. This article takes a detailed look not only on what happened to those ships since, but also at the state of the entire shipping industry.
There was a time when Hanjin’s collapse in August and this follow-up story would have been major news stories, covered by all the leading mainstream press outlets. No more. Even though it indicates significant financial and economic trends that should concern anyone who is serious about being an educated citizen, the press doesn’t cover it, and the public today really doesn’t care.
Just another indicator that a new dark age is looming.
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Real news: Six months ago the shipping company Hanjin went bankrupt, stranding its 96 container ships worldwide. This article takes a detailed look not only on what happened to those ships since, but also at the state of the entire shipping industry.
There was a time when Hanjin’s collapse in August and this follow-up story would have been major news stories, covered by all the leading mainstream press outlets. No more. Even though it indicates significant financial and economic trends that should concern anyone who is serious about being an educated citizen, the press doesn’t cover it, and the public today really doesn’t care.
Just another indicator that a new dark age is looming.
Readers!
My annual February birthday fund-raising drive for Behind the Black is now over. Thank you to everyone who donated or subscribed. While not a record-setter, the donations were more than sufficient and slightly above average.
As I have said many times before, I can’t express what it means to me to get such support, especially as no one is required to pay anything to read my work. Thank you all again!
For those readers who like my work here at Behind the Black and haven't contributed so far, please consider donating or subscribing. My analysis of space, politics, and culture, taken from the perspective of an historian, is almost always on the money and ahead of the game. For example, in 2020 I correctly predicted that the COVID panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Every one of those 2020 conclusions has turned out right.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
This is what is supposed to happen. It sounds like a success story to me.
Too big to fail is the error.
I don’t understand what is significant with the article. A company went bankrupt and its assets are partially taken over by others, partially idle. And shipping is the Wild West, very high risk business on the margin, there’s no trending there.
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If you wanna see the state of the shipping industry, seek out this view.
Go to Google Maps. Zoom in on the City of Singapore. Very closely examine the area along the coast east of the city and see all the idle container ships and tankers rusting from non use. Miles of them. Following the shiney oil slicks.
Many old and inefficient ships, true but a valid indicator of the situation.
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Michael Miller:
Wow, that’s a lot of ships. Hope they don’t have a big storm hit anytime soon, they’ll have a real mess on their hands….
Lack of imagination. Use them to sell excess California water to the Saudis.
Michael Miller,
This reminds me of San Francisco during the gold rush:
http://www.sfgate.com/news/article/SHIPS-UNDER-SAN-FRANCISCO-There-was-a-Gold-Rush-3774242.php