Interesting as you probably know, the Arizona desert provides parking space for hundreds of jetliners that have not outlived their usefulness – they are still useful and can still fly. But their owners are unable to turn a profit on them if and when they fly, at least not in today’s economic climate. But when the time comes, they will be put back to work again, in a seasonal revival just like the salagubangs and salaguintos that we used to catch in Malate during the June-July summer days.
Boat parking spaces in Subic Bay
So too with ships. Yes,the Philippines is making money on the recession by offering boat parking spaces. Subic Bay, for example, has increased its revenue by more than 120% this year, more than what it lost in freight handling fees and other income. There are at least 20 empty tankers, container vessels and bare car carriers parked in Subic. After unloading their cargo in South Asian ports, at least 3 more empty ships are steaming to Subic in order to park. More than half of these big ships weigh more than 151,000 dead weight tons. The owners have to pay the Philippines 17 cents a ton per day in order to park there. You can figure out how much is the total cost. In addition, the crews of these vessels add to the local economy because they have to buy food and other services from Subic every day.
There are four such ports with parked ships in the Philippines. The government is considering opening 2 more, If the recession continues, thousands of more ships will need parking spaces. Today at least 1,000 ships are laid up and inactive, they have nothing to carry. Shipping companies are unhappy, but it is a winner for the Philippines, with its dozens of good ports in thousands of islands. Even Singapore, with its one port, is turning away empty ships. And Hong Kong is always full whether it’s recession or not. So the nearest port is somewhere in the Philippines.
On Philippine Politics
I can never understand Philippine politics. Your enemy today is your friend tomorrow and vice versa. It’s amazing how the barkadas of yesterday are attacking each other today. Arroyo has apparently forgiven the Marcos family and they are emerging into the sunlight again. The most charismatic of them is of course Bong Bong Marcos, in whom the New York Times calls “the power of celebrity overwhelms common sense in Philippine politics.” Of course it takes money to rise to power, like anywhere else, and to achieve this, the Marcoses have turned against their erstwhile friend and power broker Lucio Tan.
Marcos heirs versus Lucio Tan
According to reports, the Marcoses’ biggest ongoing legal battle is with ethnic Chinese tycoon Lucio Tan, ranked by Forbes Magazine last year as the Philippines‘ richest person with an estimated US$1.5 billion net worth. The Marcoses claim they have legal documents showing that the late president owned 60% of Tan’s diversified businesses, ranging from tobacco to brewery assets, hotels, real estate, airlines, banks, office buildings and other holdings.
They have contended with apparent documentary evidence that the family’s ownership was held in trust by Tan under a joint venture arrangement with the late president. The Marcos heirs say they have demanded a share of the revenues from Tan ever since the late dictator’s death while on forced exile in Hawaii in 1989, but were rebuffed, prompting them to sue him. Well, let’s see whom Tan will turn to for help. It goes without saying that if your enemy is also my enemy, hey, we are friends. So gimme a high 5 dude! – ?