Signs of economic doom Govt can't hide

No matter how much effort the government and their media lap dogs invest in distorting, re- framing, and omitting crucial statistical data to conceal the truth, signs abound that reveal the stark truth about the present state of the global economy, signs that also reveal the grim forecast of what lies ahead. Ship after ship in the busiest port in the world are empty and idled; the following BBC excerpt explains why:

Idling ships clog up Singapore shores
By Pauline Mason

Singapore claims to be the busiest port in the world. About 130,000 ships arrive there each year. But these days, the problem is many of those vessels are not putting back out to sea. The usual stay for a cargo carrier is just ten days. That is enough time to offload one set of cargo and take on another load, re-fuel and re-stock supplies. But, of the 220 container ships arriving in Singapore this year, - excluding the tugs, yachts and bunkering vessels which are permanent port residents - more than half have stayed longer than that. Another 44 cargo ships have been in port for more than six months.

It costs about $1,000 (£614) per day to keep a ship at Singapore port. On top of that, most of these ships would have been bought with multi-million dollar loans that need to be serviced. They will have a crew that needs to be paid, fed and watered. Engines and machinery that need to be maintained. All of this is necessary for a ship to maintain its class - the equivalent of an MOT or bill of health. Being taken "out of class" means a ship cannot trade or earn money and cannot be insured for voyage on the open sea.

The sharp downturn in world trade is behind this enforced idleness. And, in the absence of global economic recovery, all firms can do is minimise their costs. A ship owner can save up to 80% of his or her running costs just by laying anchor 45 minutes south of Singapore, off the Indonesia islands of Batam-Rempang-Galang. Earlier this year, Rob Wilkins, general manager, Enviro Force, opened a new anchorage off Galang.

"In Singapore you have to maintain a full crew (25-30 people on average) on-board your vessel," he says. "In Batam you don't. You can save on insurance costs, maintenance costs and crew costs by laying up here instead."

Mr Wilkins and his partner Damian Chapman are serial entrepreneurs. For months, they have noticed more and more vessels idling in ports, running up huge costs. According to AXS Alphaliner, 511 container ships are laid up. That is a tenth of the global fleet.