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Reprinted with permission ColRetJohn Substack
What does Force Majeure mean? It means something extraordinary beyond your control has happened and you can dump your cargo at the first sign of an Imperial Cruiser and not pay your customers for loss of their cargo.
In current times it means you can make a quick assessment of the best managed loss (or possible profit) and race to unload your ship at the closest port and re-set the ship for its next cargo.
Because of the Baltimore Bridge Disaster, multiple shippers have declared Force Majeure. Two lessons learned out of this episode? First - having an American Flag Merchant Fleet would provide much better ability to give legal direction and guidance on a large scale in such circumstances. The second lesson? Slow speed diesels have become the operating norm for 50 years with merchant vessels. Sprinting to a new harbor to dump your cargo or outrun a Chinese submarine are much better with an ability to sprint the merchant vessel at 25 plus knots when an In Extremis event happens.
We are now descending into a new worldwide supply chain shock - get ready.
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i dont understand this, possibly be good to have a more comprehensive explanation?
Excuse to phuk us even more, I'm guessing.