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07-11-2014, 10:17 PM
A bit more reporting here.
http://www.hellenicshippingnews.com/ship...ankruptcy/
The article mentions most shippers only pay when the fuel is delievered, shielding them from potential losses.
Hmm...
Assume the worst, what domino are we looking at?
Weaker shippers do not get their oil, or lost money and become bankrupt??
Cannot quite understand, the supplier lost money due to wrong side of hedging, sum involved is 150 mio. Do not seem like a lot of money that will bring shippers down. Assume a few shippers go down, there is already excess supply, what can shippers bring down with them? Bulk rates and freight rate is low, the big players will boy be affected,maybe some smaller player of transshipment?
Can't understand where is the domino?
Maybe buddies can enlighten?
http://www.hellenicshippingnews.com/ship...ankruptcy/
The article mentions most shippers only pay when the fuel is delievered, shielding them from potential losses.
Hmm...
Assume the worst, what domino are we looking at?
Weaker shippers do not get their oil, or lost money and become bankrupt??
Cannot quite understand, the supplier lost money due to wrong side of hedging, sum involved is 150 mio. Do not seem like a lot of money that will bring shippers down. Assume a few shippers go down, there is already excess supply, what can shippers bring down with them? Bulk rates and freight rate is low, the big players will boy be affected,maybe some smaller player of transshipment?
Can't understand where is the domino?
Maybe buddies can enlighten?
life goes in cycles, predictable yet uncontrollable; just like the markets, but markets give you a second chance