What a ship....no wonder 'Made in China' is displacing North American made goods big time. This monster transports goods across the Pacific in just 5 days!! Another two will soon be commissioned..
These ships were commissioned by Wal-Mart to get their imported goods from China ... They hold an incredible 15,000 containers and have a 207 foot deck beam!! The full crew is just 13 people on a ship longer than a US Aircraft Carrier which has a crew of 5,000. With its 207' beam it is too big to fit through the Panama or Suez Canals. It is strictly transpacific. Cruise speed: 31 knots. The goods arrive four days before the typical container ship (18-20 knots) on a China-to-California run. 91% of Wal-Mart products are made in China. So this behemoth is hugely competitive even when carrying perishable goods. The ship was built in five sections.
Country of origin - Denmark
Length - 1,302 ft
Width - 207 ft
Net cargo - 123,200 tons
Engine - 14 cylinders in-line diesel engine (110,000 BHP)
Cruise Speed - 31 knots
Cargo capacity - 15,000 TEU (1 TEU = 20 cubic feet)
Crew - 13 people!
First trip - Sept. 08, 2006
Construction cost - US $145,000,000+
Silicone painting applied to the ship bottom reduces water resistance and saves 317,000 gallons of diesel per year.
A recent documentary in late March, 2010 on the History Channel noted that all of these containers are shipped back to China, EMPTY! Yep, that's right.
We send nothing back on these ships. What does that tell you about the current financial state of the west in crisis? So folks, just keep on buying those imported goods (mostly gadgets) until you run out of money. Then you may wonder what the cause of unemployment (maybe even your job) in the U..S, UK, Canada and even in Australia????
|SO ... WHAT DO I HAVE TO LOOK FORWARD TO?|
While China’s sales of Treasuries have slowed, its holdings of U.S. equities are now showing steep declines.
"China’s U.S. portfolio doesn’t just consist of Treasuries,” said Brad Setser, a senior fellow at Council on Foreign Relations in New York. “To gauge China’s activity in the market it’s increasingly important to look beyond the Treasury market.”
The liquidation of shares suggests China’s central bank was still under pressure to raise dollars and smooth the yuan’s depreciation even though Treasuries selling abated, including through suspected custodial accounts in Belgium. The equities reduction reminds investors that while China’s $1.4 trillion trove of Treasuries dwarfs its other foreign assets, it has accumulated enough U.S. stocks to influence global markets.
The PBOC’s press office directed questions to the State Administration of Foreign Exchange, the arm of the central bank that manages the nation’s reserves. Officials at SAFE didn’t respond to a request for comment.
The Treasury doesn’t break down its data into private and official holdings. Yet China’s capital controls limit the candidates capable of amassing such a hoard of U.S. equities. Also, private Chinese ownership of foreign stocks remained stable in 2015, signaling that the selling originated from an official source, SAFE data on international investments indicate.
Given that China’s private holdings of equities abroad are smaller than the nation’s U.S. holdings as reflected in the Treasury tally, “one can reasonably infer that SAFE, whose reserve assets are not included separately in the net international investment position, holds many of the equities," Setser said.
Switching to selling stocks allows the PBOC to retain safer, more liquid assets such as Treasuries that it can unload easily in times of turmoil. Two rounds of declines in the yuan in the last 10 months spurred market volatility worldwide and led investors to monitor China’s reserves as a measure of how much of its war chest the country was burning through to combat capital flight.Dumping equities may prove to be a savvy move, considering that the S&P 500 Index has gone 13 months without a new high on a closing basis. China, which more than doubled its holdings of U.S. stocks during the bull market that began in 2009, wouldn’t be alone among government-affiliated sellers of investments abroad. Sovereign funds from Qatar to the United Arab Emirates and Russia have been liquidating assets since crude began tumbling in 2014.
|LIFE IN CHINA IS NOT GOING TO BE PRETTY|