“That confidence should be sustained this year, building on the general forbearance shown by the banks in 2010 when assessing non-performing shipping loans. But we can expect to see the banks commission more independent business reviews to assess the future viability of poor performers.”
Wilkinson adds, “Crew costs will continue to rise. They were the only operating costs going up in 2009, will have done likewise in 2010 and will continue to do so in 2011. An executive at a leading shipping line recently welcomed a strong increase in revenue for the first nine months of last year and urged his crews to celebrate by eating cream cake. This didn’t go down well with the unions, who claimed that the results had been achieved through job cutbacks. You can’t eat your cake and have it.”
- Shipping sector faces a challenging year, MooreStephens.co.uk, January, 2011.
2. Recently I read a column about the origin of the phrase “You can’t have your cake and eat it, too.” Apparently the phrase originated with the eat before the have — “You can’t eat your cake and have it, too.” While you might debate the best order, the point is that sometimes you have to make a choice between two options, each of which excludes the other.
This might often be true, particularly as regards to cake, but it is not always true of natural systems. Take a look at a forest ecosystem. Managed well, forests are more like the fairy tale pot of porridge that never gets empty.
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