We were shown an interesting article recently regarding the parking of ships in shipping lanes.
As we understand it these tankers are either transferring cargo, waiting, at sea rather than paying port taxes, for work to come in or waiting for the price of their cargo of crude oil to rise in the world markets.
Some local traders are happy because they’re trading with the ships. The speculators are presumably happy to wait for price hikes. The ship owners should be happy as they’re being paid for storage. The sailors are getting their wages and no doubt are happy for that.
So why, if everyone is happy, does this have a sensation of not being right.
Could this be reflective of the juncture of our economy? You don’t have to be an economist to question that this ‘offshore trading’ somehow gives off a feeling that our economy is genuinely ‘stuck in the mud’ especially when liquidity is being sought – or is it that it’s what is being traded that feels uncomfortable.
(Image and Article credit: Copyright SUF)