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/biz/ - Business & Finance

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161857 No.161857[DELETED]  [Reply] [Original]

Let's talk shipping, /biz/ What do you know about it? I've been on board ships on and off for the past three years so I know a few bits and pieces about it.

To start things off, this was my last ship. Guess how much it cost to completely refuel it.

>> No.161858

$250k

>> No.161863

Related question. I'm leaving for the navy come the end of this month. Once I'm out in 4 years would it be particularly difficult to snag a job in the Merchant Marine?

>> No.161864

Well I shipped Katniss and Peeta

>> No.161866

My best friend made millions in import/export when they lived in Egypt. Buying your own ship and starting your own company is damn near impossible to get going these days with all of the laws and regulations. What is your company?

>> No.161870

>>161863

Family friend took your path. He now lives in Hawaii making six figures practically living on cruise ships travelling the globe. I worked in the merchant business when I graduated high school. Get your MMC, TWIC, and Passport. Go to a port and start asking for jobs.

>> No.161877

>>161872

Are you just a deck worker or?

>> No.161872

>>161858
Nope. I'll allow a few more guesses.

>>161863
I can't speak for America, but they're quite different, I went into training for the merchant side of things directly.

>>161866
Sorry, I should clarify I don't own the ships, I just work on board them. Shipping is an insanely profitable industry though.

>> No.161882

Also commercial fishing is profitable. Get you an old 70s/80s cuddy cabin and catch a ton of oysters in the bay. They usually cell 50 cents an oyster. You make $100 a day easy. I used to work for a guy who owned fish farms and he lived very well.

>> No.161884

>>161877
I was a deck cadet, for navigational officer. I've packed it in though for medical reasons, and I'm now moving on shore, doing one year of uni to make my course a full degree.

I'm allowed to pick three of six options to specialise in, though I've not decided which yet:

>Navigation Technology
>Maritime Law and Marine Insurance
>Maritime Economics and Management
>Port Strategy and Development
>Multimodal Transport and Global Logistics
>Applied Marketing and Strategy
>Management of Finance and Investment Appraisal

Not sure what /biz/ thinks is good though.

>> No.161930
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161930

>>161872
>I went into training for the merchant side of things directly.

I could have done that but I was a retard and partially went to college first. So this whole Navy thing is partially to pay back my bloody debts thanks to uncle sam

>>161870

I hear that a lot, Navy dudes seem to usually do pretty well outside of the service. My only issue is the bloody bootcamp coming up lol

>> No.161939

>>161872

3 million?

>> No.161941

>>161930
Well, ships are ships. You shouldn't find it too hard to shift over. Though I was under the impression that there wasn't that much of a merchant shipping industry based in Murrica. I'm a Brit so we've got quite a solid base.

>> No.161949

>>161939
On the nose. Yeah.

It's funny, almost everybody's default answer is $250k, but for a ship of that size it's around $3m. Pretty big money.

Fully laden with cargo the value of the ship was somewhere between $30m and $50m.

>> No.161957

>>161857
Fuck how much it cost to refuel, how much can I make by getting into shipping? Is it lucrative, or shit?

>> No.161972

>>161957
Depends on which are you're getting into. If you're in the business of it, especially shipbroking, maritime law/insurance, and accounting, you can make an absolute killing.

It's a global industry worth insane amounts of money. For example, P&I clubs (opt in sort-of-insurance systems) have a pot of money put aside amounting to somewhere around $1bn dollars. That's just the backup fund for claims.

Bear in mind that everything you own has been shipped, to some degree. Everything.

>> No.161996

>>161949

3 million to refuel that thing? jesus

>> No.162002

>>161996
That's just the basic fuel too, that doesn't take into account the lube oil and other stores.

>> No.162028

>>161972
>shipbroking

Interesting.

I'm currently looking into aircraft leasing, and I hadn't realised an equivalent existed for ships.

Interdasting. Any idea on how to get into it? I have a languages undergrad and business masters (including financial shit) so I'd probably have the right qualifications for it

>> No.162035
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162035

>>161872

>I went into training for the merchant side of things directly.

>> No.162036

>>162028
If anything, I'd imagine the ship side of things is more profitable, given how much more value the cargoes involved hold.

I'm not too sure of the best way into it though, I'll just be going into it via a university course, but I'm not sure for others how it would work. I'd recommend doing the usual thing: Find a company that does it and email them asking what they like potential employees to have.

>> No.162062

>>162035
I don't think ships run entirely by Jews would work very well.

>> No.162070

>>162036
Sounds like a plan. Turns out we have a Chartered Institute of Shipbrokers here too, so that seems like a decent place to start.

Cheers m8, we'll both be sleeping on stacks of cash within the year =|:DDDDDDD

>> No.162077

>>161882
>You make $100 a day easy.
What's it like living in poverty?

>> No.162105

>>162070
We will indeed. Ships are a weird industry in that there's so much money there but nobody ever considers them for working in. I like telling people about it for that reason.

>> No.162128

>>162062

I dunno man, my IDF buddy said Israel's navy is pretty good

>> No.162137

>>162128
Well, you know, they all come together when it comes to killing muslims. As soon as money's involved though...

>> No.162143

>>162137

It's funny, but I'm friends with a lot of Jews and Indians (I live in NYC after all) yet Irish me is the cheapest fuck in my whole friend group

>> No.162319

If one wanted to invest in shipping companies which stocks would be best to buy?

I had thought about this in the past and thought it would be a smart investment because So many profitable companies rely on shipping and it should only grow in the future and since it is they aren't very glamorous or talked about they probably aren't overbought.

>> No.162329

>>162319

There are a lot of great shipping companies, many of them pay good dividends too.

I used to trade options on DRYS but it's kind of a piece of shit now.

Do some digging and you can find some really nice companies. Keep in mind, they're highly dependent on the global economy to do well.

>> No.162465

Remember that shipping companies are queuing up orders for new ships by the dozens while actual demand is not going up, and with America's energy boom and China's soft landing it looks like there won't be any demand in the future either.

Merchant shipping never goes through big crises, it's like a money printing machine that keeps on giving.
But it might slow down from time to time. This is going to be one of those times.

>> No.162489

>>162465
Honestly, shipping has only just recovered from the economic crash. Because it's based a lot on resources like mining and manufacturing it's only now the market is back up again.

Thing is, the new ships are actually a lot to do with the fact that older ones go out of date pretty quickly, so buying new ones is necessary, but has only recently become financially viable.

>> No.162506

>>162036
Air shipping is all about value density. Ships definitely move more, but when you're moving products that a high value-to-weight ratio, air expenses hardly matter.