It looks like I’ll be able to stay here a little longer. Yeah! I need all the work I can get after the last 3 years of having so little of it. It’s been rough, tho I managed to survive. Many of my friends have not. People who’ve been working in the maritime industry for decades and who’ve worked their way up to the highest levels have lost their licenses and so their livelihoods. It’s such a waste!
Same as the ships they’ve been scrapping lately (and for the last few decades). There’s really nothing at all wrong with them. In the case of the tankers, the IMO ruled that they must be double hulled. Perfecly good ships, thrown out like yesterdays’ garbage. Driven up on the beach in Alang to be torn apart by miserably low paid peons who have no better options and are happy to have the work.
Lately, they’ve started scrapping the semisubmersibles and drillships. Yes, some of them are (a little bit) outdated- but still perfectly capable of doing the job they were designed for. Even some of the latest 6th generation drillships, barely out of the yard are being scrapped. We’re talking multiple hundreds of millions of dollars for each vessel- wasted!
I’m docked here in Las Palmas looking over at least 11 of them right now. I’m pretty sure there are at least that many parked over on Tenerife. I know there are more in Trinidad, and sitting in the Graveyard off Southwest Pass.
How many billions of dollars are going to be wasted before this downturn is over and we can go back to work? How many thousands of highly skilled people will be kicked to the curb with no other job prospects but a possible managers’ job at McDonalds?
I consider myself one of the lucky ones. I’ve been through these downturns before, so I knew what was coming. I survived the early ‘80’s, the early 2000’s. I even managed to work through the Macondo moratorium. I saved everything I could. I constantly put as much as I could into my savings account. I bought rental property and spent any spare time and money fixing them up so I could get them rented out and paying for themselves ASAP.
Thank goodness I did that. Those rental properties have been my saving grace. The rents have been practically my only income for the last 3 ½ years. I’ve managed to find a boat job every few months which allowed me to stock up my savings a little bit and take the edge off, but not nearly enough work to keep from sucking up my savings and stressing me out.
I put my best (and most expensive) property up for sale when it became clear I wasn’t going to get any kind of regular work for a while. It still hasn’t sold. I still can’t afford it.
Still, I’m one of the lucky ones. I had enough DP time to renew my DP certificate. I had enough sea time to renew my US Coast Guard license. I had enough money in the bank to (re) take the required classes we have to take in order to go to work. I know so many people who were not able to do those things. They’re not going to be able to go back to work even when things do eventually pick up.
It’s hard to go from a lifestyle of earning over $100,000/year for only 6 months of work. I went from close to double that as a SDPO (senior dynamic positioning operator) to only earning $3000/month MAX from my rentals. I usually had expenses to pay out of the rents, so my take was less than $1000/month. Sometimes I didn’t have anything left and had to live off my savings. It was hard, really hard, to adjust…