In the beginning of june the Sächsische Dampfschifffahrtsgesellschaft Dresden (Saxon Steamship Company Dresden) got insolvent.

The steamship company is the owner of 9 steam driven paddlers and 2 or 3 diesel motorships. The historic paddlers are built from 1882 to 1929 and with one boat, which remained coal fired, are all oil fired with automatic boiler firing. The condition of all boats is excellent.

The reasons of insolvence are the last dry summers with low water level and special the corona crisis this year. In the moment it`s uncertain, what will be the next future.

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That's Saddening.

Yes Thomas........this World wide pandemic has created many $$ financial insolvencies that we are not aware of to date

The Worlds financial system has for the past 50 years balanced returns to shareholders when minimising equity held

The Laws of Economics taught in Universities throughout the World until last year as "JIT" will be challenged

[JIT = just in time which relates to both capital and stock held............... ]

One would hope that a new financial Cortsium will form to save Saxon Steamship Company Dresden.......but still it will depend on the past financial performance to balance it if $ financial backing will be made

The unpleasant ugliness is these vessels may be sold as scrap.

Derek

Yes Derek....'Just in Time' is a curse of our modern age!

Stepping backwards.
190728Su-Melbourne'HeraldSun'-paddleboats-Dresden
190728Su-Melbourne'HeraldSun'-paddleboats-Dresden [also Mississippi and Murray]

Roderick

As I know, they got a new investor from Munich/Bavaria.
Andreas