http://business-times.asiaone.com/shippingtimes/0,4565,,00.html? The Business Times Online Edition - Singapore en-us Copyright 2007 Business Times Online. 7 Jan 2009 SGT 7 Jan 2009 SGT 60 http://business-times.asiaone.com/mnt/static/image/images/topmastheadsmall.gif http://business-times.asiaone.com http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/shippingtimes/story/0,4574,312970,00.html? THE year ahead for shipping is bleak but most industry players have seen it all before and are prepared to deal with the downturn while staying hopeful that a recovery will come by year-end. Shipping Times 07 Jan 2009 04:00 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/shippingtimes/story/0,4574,312946,00.html? (LONDON) The Baltic Dry Index, a measure of shipping costs for commodities, fell for a seventh consecutive session on weaker demand for steel and iron ore. Shipping Times 07 Jan 2009 04:00 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/shippingtimes/story/0,4574,312949,00.html? (NEW YORK) The cost to transport crude oil from the Caribbean on Aframax tankers may fall after little change last week, amid weak demand from refiners, a broker said. Shipping Times 07 Jan 2009 04:00 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/shippingtimes/story/0,4574,312957,00.html? (LONDON) The cost of delivering Middle East crude to Asia, the world's busiest route for supertankers, may extend its steepest annual drop in at least a decade, with few signs of accelerating demand. Shipping Times 07 Jan 2009 04:00 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/shippingtimes/story/0,4574,312966,00.html? (CAIRO) The Suez Canal, the waterway that carried a tenth of global seaborne trade in 2007, will keep transit fees unchanged this year and expects 7 per cent fewer ships as world economic growth stalls. Shipping Times 07 Jan 2009 04:00 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/shippingtimes/story/0,4574,313002,00.html? ALTHOUGH events have escalated since the collapse of Lehman Brothers in September last year, financial markets have been turbulent since the sub-prime crisis started to rear its head in the first half of 2007. As far back as the third quarter of 2007, there was considerable speculation about possible bank losses, mainly stemming from the sub-prime crisis. Shipping Times 07 Jan 2009 04:00 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/shippingtimes/story/0,4574,313004,00.html? (HOUSTON) Fog delayed ships on Monday afternoon along the central US Gulf Coast, including the big port of Houston, officials said. Shipping Times 07 Jan 2009 04:00 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/shippingtimes/story/0,4574,313012,00.html? (KUALA LUMPUR) Northport and Westports have decided to defer the reduction of free storage days for import and export containers by another six months to July 1, even though the Port Klang Authority had earlier set Jan 1 as the deadline. Shipping Times 07 Jan 2009 04:00 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/shippingtimes/story/0,4574,313018,00.html? (NEW YORK) Nordic American Tanker Shipping Ltd, a transporter of oil, said that it bought a Suezmax-class double-hull tanker for US$56.7 million to expand its fleet. Shipping Times 07 Jan 2009 04:00 SGT http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/shippingtimes/story/0,4574,313001,00.html? THE connection between shipping and recycling waste paper may not be immediately apparent, but there certainly is one. Until recently, paper recycling was a booming business in Britain. European Union rules dictate that local councils must recycle more household waste, particularly paper. Shipping Times 07 Jan 2009 04:00 SGT