by Leo » December 8, 2010, 9:53 pm
Guest wrote:I get the feeling she will be scrapped soon. As the company continues to try to improve it's bottom line, the cost of keeping an idle ship is a drain. Plus the last year it ran, it lost a lot of money due to the economic crash, so they will never fit it out again without a contract with guaranteed tonnage and risk losing money like that again.
A couple of obvious reasons why it is very unlikely she will sail again anytime soon, if ever at all.
1) She's steam. Hard to find engineers, expensive to power up again, etc, etc..
2) There are self unloaders (even a couple of ASC diesel ones, if I remember correctly) that would certainly see work first, I would presume.
It's a shame, but we have to remember that as pretty as she is, she was built to haul ore; to do a job. Unfortunately, she's worth more as scrap.[/quote]
I really doubt you're right. For starters, several steamers have been repowered on the US side over the past 5 years and several more are now idle. I doubt there is a shortage of qualified sailors familiar with steam plants. If anything, there is now an excess.
If anything, the situation is brighter now for the Ryerson. The company was reminded just how potentially valuable this asset can be after being idle for a decade or so. I doubt her reactivation lost money, or she'd of gone to the wall rather then sailing for several seasons. Cargos are rising and the economy is improving. She's their insurance policy for the future and is more valuable in that role then as scrap. I doubt we've seen the last of her suddenly as 2010 comes to a close.
[quote="Guest"]I get the feeling she will be scrapped soon. As the company continues to try to improve it's bottom line, the cost of keeping an idle ship is a drain. Plus the last year it ran, it lost a lot of money due to the economic crash, so they will never fit it out again without a contract with guaranteed tonnage and risk losing money like that again.[/quote]
A couple of obvious reasons why it is very unlikely she will sail again anytime soon, if ever at all.
1) She's steam. Hard to find engineers, expensive to power up again, etc, etc..
2) There are self unloaders (even a couple of ASC diesel ones, if I remember correctly) that would certainly see work first, I would presume.
It's a shame, but we have to remember that as pretty as she is, she was built to haul ore; to do a job. Unfortunately, she's worth more as scrap.[/quote]
I really doubt you're right. For starters, several steamers have been repowered on the US side over the past 5 years and several more are now idle. I doubt there is a shortage of qualified sailors familiar with steam plants. If anything, there is now an excess.
If anything, the situation is brighter now for the Ryerson. The company was reminded just how potentially valuable this asset can be after being idle for a decade or so. I doubt her reactivation lost money, or she'd of gone to the wall rather then sailing for several seasons. Cargos are rising and the economy is improving. She's their insurance policy for the future and is more valuable in that role then as scrap. I doubt we've seen the last of her suddenly as 2010 comes to a close.