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NagsHeadLocal's avatar

Interesting and informative article - thanks for the maps, which I have not been able to find elsewhere.

Ruv Draba's avatar

Thanks to Matt for posting this thoughtful explanation, and to Peter for hosting.

These routes may be physically practical for some cargo vessels, yet still be commercially uninsurable. Insurance rates have risen from a floor of 1% of hull price to a ceiling of 10%, which changes the commercial calculus -- and you can't dock what isn't insured.

Owners of stranded shipping may be willing to take risks to get them out and we have seen some evidence of that; it doesn't mean they'll bring them back.

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