Steel building house

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TOKYO, Sep 26, 2008 (BUSINESS WIRE) -- Steel Partners Japan Strategic Fund (Offshore), L.P. ('Steel Partners') announced today that it has accepted the request by Noritz Corporation (5943.JP) ('Noritz' or the 'Company') to extend the deadline to respond to Steel Partners' proposal to enter into negotiations to acquire all outstanding shares of the Company until October 17, 2008.

Sept. 26 (Bloomberg) -- Commodity investors' expectations for a rebound in shipping rates are collapsing as Chinese steel mills reduce production and economic growth sputters.
Shipping investors, analysts and brokers from New York to Oslo cut their forecasts for fourth-quarter rates by 17 percent in three days this week, according to data compiled by Bloomberg. The cost to hire a capesize vessel, most commonly used to carry coal and iron ore, will average an estimated $70,000 a day in the period, down from $84,000 forecast at the start of the week