Word: shippings
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...rises over the Singapore Strait another long day for Arnold Lee begins. On a launch chugging out of Singapore harbor, the shipping agent's job that morning is to smooth the immigration process for three anxious-looking seamen, from Greece, Ukraine and Romania, who are joining the crew of a 200-m-long bulk carrier anchored an hour southeast of Singapore. As the Greek chief engineer sits in the launch, nervously fingering a string of black prayer beads, Lee clambers aboard the ship, the Anaisa Ionna, from a rope ladder dangling from its side. Forty-five minutes later the Singapore...
...complaint of overwork sounds dissonant during a global recession, but it is precisely because of the plunge in global trade that Lee, who works for a ship-supply company, is clocking up so much overtime. The World Trade Organization predicts the volume of global trade will shrink by 9% in 2009, the worst fall since the Great Depression. As a result, a fleet of empty ships lie idly at anchor just outside the territorial waters of Singapore, the world's busiest port. "The pile up of ships in the Straits is a reflection of the collapse in trade until...
...Though maritime trade has been picking up recently due to a resumption in Chinese commodity imports, pushing up the Baltic Dry Index from its lows, the Maritime and Port Authority of Singapore estimates there are about 150 ships in the vicinity of the island-state, although the number of vessels could be significantly higher than the official figures. That's in addition to 400 to 500 ships that are using Singapore's port at any given time. Most of the vessels outside Singapore are idle and have been stripped to skeleton crews of three or four in contrast...
...York City, and a bleary-eyed community of foreign laborers hammers away at building sites daily. That's quite a change. Not long ago, Malé was a sleepy fishing island with sand-packed streets and pens for livestock, only reachable after a perilous weeklong journey by ship from Colombo. Now, most people there sport flashy cell phones; at night, a few Porsches and Maseratis rev their engines impotently around the 500-acre (2 sq km) capital's congested roads...
...combined spending of countries in NATO, excluding the U.S. Apart from China, the top Asian spenders include Japan and South Korea, nations that over the past 40 years relied on American military support to deter the communist states to their west. Now, Japan is due to launch its largest ship since World War II, a "Hyuga" class helicopter carrier - Japan's pacifist constitution forbids the use of carriers with more offensive aircraft - that is designed chiefly for anti-submarine warfare. Seoul paraded a similar 14,000 ton vessel at Qingdao...