Due to the price of oil and COVID-19, there are vessels in lay up all over the world. Taking a vessel out of service can be both a short term and long term decision. The short-term call is usually the simple – it will cost more money to run than it will make.

Due to the price of oil and COVID-19, there are vessels in lay up all over the world. Taking a vessel out of service can be both a short term and long term decision. The short-term call is usually the simple – it will cost more money to run than it will make.

DLS Marine surveyors and appraisers have always been current with what has been going on in the marine industry. As members of the National Association of Marine Surveyors (NAMS) and the American Society of Appraisers (ASA), it is necessary for all of us to learn and amass continuing education hours in order to renew our certifications.

On an adjusted dollar value basis oil hasn’t been this cheap in over thirty years. Fuel is the biggest single expense for vessel operators so this should be a blessing. Even the shock of IMO 2020 low sulfur fuel regulations have been greatly softened with the difference between high sulfur and low sulfur fuels dropping to a small gap. Only in today’s economic climate it is not the blessing it could be.

“It’s the economy, stupid.” James Carville coined this very famous and often quoted remark in 1992 when he pointed out during an election year that it was the economy that was most important to voters.

Bedlam is defined as a scene of uproar and confusion. The term comes from the St. Mary Bethlehem Hospital in England which long after its beginning became an asylum to treat the mentally ill.