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Hanjin doesn't really qualify as a "smaller player", do they? So, it seems to indicate any shipping company could end up in trouble, if the sixth largest in the
by SwellJoe 10y ago
Hanjin doesn't really qualify as a "smaller player", do they? So, it seems to indicate any shipping company could end up in trouble, if the sixth largest in the world can fail so catastrophically in such a short time. Given the size of the expenses involved, and how thin the margins are (particularly in a market that has more capacity than cargo), it seems like it's not easy to predict who will be solvent six months or two years out; I imagine the contracts are negotiated on a relatively long time-scale, since these voyages take weeks in the best of cases.
- dmoy 10y ago7th largest, like a couple percent of all shipping. Idk what your definition of small player is.
- SwellJoe 10y agoI don't either. I have no familiarity with the industry. Are there only eight companies doing it? I guess it's just that there's no such thing as a small company operating in this business. The scale just seems massive, to me; a single ship costs millions in operations alone.