You are absolutely correct. While it was publicized that ASC intended to sail all of their vessels this year, losing one hull from their available options will not be a dealbreaker. They will find a way to make it work, whether floating more cargo themselves and/or outsourcing to other carriers. Their contracts/charterparties likely contain force majeure or other incapacitation clauses as well.Guest wrote:Opening locks early? "Fast-tracking" the Anderson's return? Re-flagging the Valor (which would, quite literally, require Congressional approval)? These are fanciful notions from a small and devoted group of boat watching hobbyists. Here's what's going to happen, short term. Nothing, other than perhaps ASC fitting some boats out a week or two earlier than planned and the dispatchers getting creative and trying to squeeze in a extra trip here or there, either with their own equipment or seeing if a competitor has an opening for a load. My guess is this vessel will not be replaced (on a one to one basis) this season.
It's human nature to have wishful hopes and dreams, and that can make for interesting conversation, as long as all understand it is simply "what-if" talk. There absolutely has been no calls by their team to other companies, asking to charter or purchase an outside vessel.
With the softening of the coal market there is no pressing need to replace lost capacity in the near future. While 2019 may show high utilization rates of available tonnage, the national and global economy is a fluid, changing force. In 2020 we have the new ATB from VanEnkevort coming online, further adding capacity.
Also, depending on the P&I Club policy, ASC may be directed to repair/rebuild the St Clair if the claim is paid. In other words, they may propose alternatives to the P&I Club (scrapping, converting in some form, etc), but they likely will not be able to take the settlement and not repair the vessel. The settlement amount will be based on the cost to repair the vessel, and if the intention is to recycle the entire ship, then the settlement will be paid at a lower amount (if at all). As an analogy, if your personal automobile is damaged in a fender bender, and your insurance agrees to pay out X amount of dollars for the repairs, you are legally obligated to complete those repairs. While some will pocket the money, the contract you have with the insurance provider (as dictated in your policy declarations) stipulate that funds received must be used to repair the vehicle to the original condition. They are insuring a vehicle in a known condition, and as the policyholder, you are obligated to maintain that condition.