The Singaporean economy is stuffed. Exports are collapsing, but the SGD keeps strengthening. House prices are off 20%. Bad debts are on the rise.
But don’t worry, says Pravda – the price of a cup of kopi (the horrible local coffee made with condensed milk) is still just 80 cents! Unchanged from February! Nothing to worry about! EVERYTHING IS OK!
THE Maritime and Port Authority of Singapore (MPA) has asserted that there are no lay-ups in local port waters, in response to The New York Times (NYT) claiming that there are 735 ships idling just outside our port.
According to Captain M Segar, group director (Hub Port) of MPA, there have been no lay-ups in the port and that port dues are structured to actively discourage laying-up.