Singapore: Outlook for 2016 - ah neh says gahment very supportive

[krafty]

Offshore vessel operators in Singapore are basically in survival mode.

Sabnis says the government is very supportive. “It really has great sympathy and understanding with the shipping industry, and I believe that will continue over the long term because the government here understands the maritime sector’s health is vital to the overall health of the Singapore economy”

http://maritime-executive.com/features/singapore-outlook-for-2016

 

[krafty]

for some reason, i chose to believe that this ah neh sound sarcastic, with him saying that gahment sympathise with the maritime industry.

 

[Poomer]

Shipping is the backbone of the Singapore economy, especially after they tore down all the factories to build office buildings.

Lets not forget the small sleepy shipping village had one of the world's most strategic location, if we were someone in the middle of the Indian Ocean like Reunion Island or Christmas Island, nobody would give a shit, nobody would build a factory nor would anyone bring in investment. LKY's legacy had all these to thanks them.

Just imagine, he had the same team in reunion island, and he tried to bring in foreign investments to build factories, the investors would tell him to bugger off as no ships called there, unemployment would be 40% and the commies would have taken over.

 

[krafty]

my friend, they already sold off NOL, maybe they should reconsider buying back in a short while. haha...lol...

looks to me more like a mis-management rather than bleeding due to downturn. s'pore has the best viable strategic port location, doesn't make sense that it will lose money in the long run.

Shipping is the backbone of the Singapore economy, especially after they tore down all the factories to build office buildings.

Lets not forget the small sleepy shipping village had one of the world's most strategic location, if we were someone in the middle of the Indian Ocean like Reunion Island or Christmas Island, nobody would give a shit, nobody would build a factory nor would anyone bring in investment. LKY's legacy had all these to thanks them.

Just imagine, he had the same team in reunion island, and he tried to bring in foreign investments to build factories, the investors would tell him to bugger off as no ships called there, unemployment would be 40% and the commies would have taken over.

 

[Poomer]

my friend, they already sold off NOL, maybe they should reconsider buying back in a short while. haha...lol...

looks to me more like a mis-management rather than bleeding due to downturn. s'pore has the best viable strategic port location, doesn't make sense that it will lose money in the long run.

Nah, no point keeping a bleeding liability. The entire shipping industry is loss making due to overcapacity. Just put 20 year exclusive rights at PSA in the agreement, then they are all set.

Shipping industry is loss making in general, but their expenditure is quite sizable and their supporting industries are doing pretty well rain or shine. Ship spare parts, chandlers, even their sailors on shore leave all these contribute to the economy. Look at all the small companies in Tuas that nobody heard of, but their boss driving Mercedes (i know Mercedes is not really top end these days, but it's still the favourtie car for 40-60s towkays...).

The key word is unique location, Singapore location is comparable with the Suez and panama canal, the point where Australia, China and India meet. That's why the SG govt will spend what is necessary to ensure the Kra Canal will never see the light of day.