It Is Now Cheaper To Rent A Dry Bulk Tanker Than A Ferrari

Tyler Durden's picture

China’s slowing growth has crushed shipping rates to such an extent that hiring a 1,100-foot merchant vessel would set you back less than the price of renting a Ferrari for a day.



As Bloomberg reports,

Rates for Capesize-class ships plummeted 92 percent since August to $1,563 a day amid slowing growth in China. That’s less than a third of the daily rate of 3,950 pounds ($5,597) to rent a Ferrari F40, the price of which has also fallen slightly in the past few years, according to Nick Hardwick, founder of


The Baltic Exchange’s rates reflect the cost of hiring the vessel but not fuel costs. Ships burn about 35 metric tons a day, implying a cost of about $4,000 at present prices, data compiled by Bloomberg show.

Of course, it is hard to drive a 1,100-foot dry bulk tanker down The Vegas Strip or through midtown, although there is always a first time...

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F0ster's picture

I could sink a metric fuckton of silver in that thing

thesonandheir's picture

Can you imagine pulling up at a dates house in that thing?

NoDebt's picture

"Yeah, babe, I picked this one up at auction for almost nothing.  It's got 150,000 horsepower.  You wanna drive it?"

thesonandheir's picture

'Fancy a swim in the crude pool?'

Newsboy's picture

The tanker has beds and a shower.

ParkAveFlasher's picture

Does it come with Somali mercenaries?  Chicks dig mercenaries.

Shocker's picture

This says alot about the economy and where its heading

Layoff / Closing List:


Save_America1st's picture

Not sure if this Ben Fulford dude is for real or not in most of the things he says.  But here's something from yesterday that he always, hard to verify...but it could be very plausible to some extent too.

Benjamin Fulford 1-19-16… “The revolution continues with shipping freeze, stock plunge, US dollar dumping, $20 oil, attacks on gold mines and more”

“Perhaps the most dramatic, and under-reported, new aspect of this ongoing struggle has been the freeze on global shipping. To confirm reports on the internet of a shipping freeze, this writer called NYK lines, a major international shipping firm, and was told “we cannot speak for the whole world but, as far as our company is concerned, with current shipping prices we will lose money every time we send a ship so we have stopped.”

"Chinese government sources told this newsletter shipping companies are now demanding to be paid in Chinese yuan and not dollars and that is a major reason for the freeze in shipping worldwide. If this continues, it will lead to empty super-market shelves and social unrest, especially in the US. The announcement last week by Walmart that it is closing 269 stores is just the beginning."

SheepRevolution's picture

Why drive the boat into Las Vegas when you can drive in straight into lower Manhattan?

mt paul's picture


terrorists will be driving tankers
into large buildings soon...

Pairadimes's picture

Can I get mine with Dennis Hopper in an eye patch?

Father Thyme's picture

Kid Rock just purchased it.

? Buy a yacht tanker with a flag sayin' 'Chilling the Most.'

Then rock that bitch up and down the coast. ?

Whalley World's picture

The idea of a party barge at large sounds like a fun and profitable business.

NotApplicable's picture

Fulford is the same fool who tried to convince everyone that the Yakuza was going to make Bush the 2nd step down in order to save the world from the likes of David Rockefeller.

I'll admit it was an interesting tale. However, Fulford went full-retard when he said that the Yakuza had picked Al Gore as his replacement.

Many LOLs were had.

Gordon Freeman's picture

Uh, Ben, why would the companies want to be paid in a depreciating curency vs. the world's reserve currency, which is currently stronger than ever?


Careful, your bullshit is showing...

svayambhu108's picture

Whatever hurts oil makes me happy.

Save_America1st's picture

thanks to oil, your dumb ass was able to post such a short-sighted, ignorant fucking comment. 


TerminalDebt's picture

he's probably one of those alternative fuel nuts that believe you should pedal a generator for 19hrs a day to use your phone for 20 minutes.

svayambhu108's picture

Why should I put the /sarc to that obviously sarcastic comment.

Father Thyme's picture

Remember, every day is opposites day with progressives.


Miles Ahead's picture

short-sighted, ignorant fucking comment. 

Huh???  Well for one, not one drop of oil is being used for me posting this comment - from fingers to the server in Cyberspace; all synthetic from where I sit.

On the serious side, many good, great things are developing with the collapse of Oil and Baltic Dry in general.  Great fucking things. In fact from where I sit, I see no downside except Vlad and bros having to tighten belts and wait until all good things come to an end.

You're entitled to your ignorant fucking view and others, theirs.

Lore's picture

Turn off the TV and set aside the programmed jingoism.  This isn't about "Vlad." It's about overreach by a deeply corrupt, bloated and vulnerable western energy sector. 

America's Cash Flow Negative Energy Companies Have $325 Billion In Debt Among Them (ZH, 18-Jan)

"None of these companies are bankrupt, yet. As a reminder, putting as many of these companies out of business, and thus slashing non-OPEC oil production (as OPEC forecasted in its latest bulletin earlier today), is the primary motive behind Saudi Arabia's relentless pumping spree."

Oil credit crunch could be worse than the housing crisis (CNBC, 14-Jan)

Billions of Barrels of Oil Vanish in a Puff of Accounting Smoke (Bloomberg, 10-Dec)

Miles Ahead's picture

What are those links for?

TV.  I do have one.  But it's reserved only for Manchester United broadcasts.  Trust me.

My jingoism is hardly programmed.  This ain't about Vlad; it's about me.  As I said, many great things happen as Oil, Baltic Dry, and a whole host of other things collapse, IMHO. 

And I threw Vladimir and Co. in as, their concern and pain would be the only downside to this state of affairs, again IMHO.

The collapse of oil is great in case I did not make that entirely clear.  I haven't had a good laugh since 2008.

Lore's picture

That seems shortsighted, like masturbating to spoonfed "Green" rhetoric. This is the worst possible thing to happen at the worst possible time. Think broadly about the consequences.

Miles Ahead's picture

Ahhhh, OK.  I see where the discrepancy is.

I HAVE thought about the standard of living in the N. American thing, whatever it is.  You have just made some assummptions about me that perhaps you should revisit.  I really don't want to spoil a peaceful day we're having here...  but assumptions are dangerous friend.

Down, with freaking oil, shipping, equities, housing.  If I've missed anything, please add it to my list.  I'm serious.  Outta beer, outta here.

Lore's picture

Fair point.  I think we agree to a large extent about widespread misallocation of resources in a society twisted by con men, but you seem to go further, embracing a kind of all-encompassing destructive nihilism. What do you value?  I have to leave.  Peace. 

P.S. I totally misread your comment about "Vlad." Sorry.

WOAR's picture

My brother is in the oil and gas industry. He's a smart man, with a degree in Nuclear Engineering.

If very, VERY smart people are suddenly put out of work, and can't find anything...

What do you think they're going to do?

Miles Ahead's picture

as Robert Downey Jr. said in "One Night Stand"; I haven't the slightest fucking clue.  And won't lose a moment's sleep trying to figure out.

Anyway, very, VERY, smart is all relative.  The smartest guy I ever knew used to deliver newspapers, make 7,000$ per month off the grid, and his work day ended at 6AM.  Probably pronounced Nuclear a bit like Jimmy Carter - another smart, smart, nuclear engineer.

Lore's picture

Is he smart, or just intelligent?  If he's smart, he'll reposition.  If he's merely intelligent, then he'll dwell bitterly on victimhood, stifling opportunities and poisoning relationships.

Encourage him to keep fighting the good fight.  There will always be opportunities to make some kind of a living.  It takes creativity and humility and perseverance.  Everyone is about to experience a fall in their standard of living.  He needs to accept that and get on with it. 

Most importantly, he needs to focus on eliminating debt (if he has any, as he probably made good money) and living within his means.  For a lot of people, that and the pursuit of opportunity can mean relocation, a dominant theme during the Depression. 

He needs to preserve his health.  Encourage him to eat well and stay active.  A job is just a job, not the end of the world.  Does he have personal interests outside the workplace? If not, help him find one.  (You are a probably an important part of his support net.)  For a lot of people, simply following current affairs is a hobby in itself.  God knows enough is happening. 

On that note, help him keep his faith.  There's a purpose for everything.  "This too shall pass." 

Baby Bladeface's picture


Huh???  Well for one, not one drop of oil is being used for me posting this comment - from fingers to the server in Cyberspace; all synthetic from where I sit."

And synthetic is what? You think plastics resin is tapped from polymer tree like maple syrup? Is from oil, many drops.

So you are stoned ignorant and clinical moron, or just inadequate troll?

Boris Alatovkrap's picture

Yes, but good luck for find parking space.

El Vaquero's picture

And I thought parking a Super Duty downtown was bad.

Manthong's picture

You could probably buy one of those things for what its footprint would cost in downtown parking spaces for a day.

eatthebanksters's picture

Modify it and turn it into low cost cold saltwater showers!

chubbar's picture

Modify it and park it down in the carribean. Fill it with women, booze and music then run snorkel and fishing chartes off of it. $1563/day, can't get much cheaper than that and it's a hell of a doomsday bugout rig.

Father Thyme's picture

I spend most of my money on women and booze.

The rest of it, I just waste.


Conax's picture

Yeah, like Dennis Hopper on Waterworld.

His gang (eevil Smokers) lived on the Exxon Valdez (the ol' 'Deez) until kevin Kostner dropped a road flare in the crude. Like a dick.

gimme soma dat's picture

Don't modify it all and put the god damned "refugees" in there. 

nohomehere's picture

How do you think all those crasy people got stuck on the oil tanker in waterworld?

  That expplains all the cigaretts and boose the had !

 Captain , I mean st. joe was running a party when the shtf and the world was turned upside down!

  They know it's commin !

Sanity Bear's picture

beach that sucker on the San Fran coast and you've hit the jackpot!

True Blue's picture

Hell, let's rent it and anchor the thing in San Francisco Bay, then sublet rooms through Air B&B at $2 per sq. ft. Water Taxi service included.

If it works, lets invest in a second one as a parking garage.

What do you guys think?

(not sure if this is sarc or not.... honestly)

El Vaquero's picture

How about renting two.  One that is close to the shore and one that is 12 miles off the coast so that people can do things that they cannot in the US.  I'm sure that setting up a hydroponics area to grow weed would be a big draw. 

seek's picture

I have a very strong sense that weed is going to be legal in a large portion of the US within two years, and probably nationwide in five, save for a few bible-belt holdouts. So that part of the plan probably isn't ideal.

But there's a bunch of other fun activities and chemicals you could still use to make your plan work.

Mr. Cynic's picture

You guys are on to something here.  But don't rent the damn thing, wait another month and pick one up at a scrap sale for a couple grand.

Id fight Gandhi's picture

Rent it out as housing? Fuckin genius. Plus cross into international waters and anything goes.


True Blue's picture

I've actually been expecting someone to do something like this with a retired Carnival or Princess job for some time, a long term rental Queen Mary kind of deal in San Fran, but wtf do I know. Maybe smart techies are onto something choosing to rent crawl spaces in an earthquake zone...

Stackers's picture

I'm on a mother F'kn Boat !