SAILING'VOLVO OCEAN RACE:  AS THE countdown clock to the resumption of competition in the Volvo Ocean Race begins ticking in earnest this weekend, immediate prospects for a transformation in standings for Ireland's Green Dragon team are unlikely to begin the New Year significantly better than 2008 ended.

Tomorrow week sees the second of six "in-port" series staged off Singapore and like the first of these in Alicante almost three months ago, light airs tactics will be the order of the day.

And so we can expect the Telefonica twins to excel once again if the Spanish races were any measure of performance.

For fifth place overall Green Dragon, this isn't altogether bad news as the Alicante results for the Galway boat were far from disappointing.

With the halfway stage still months away, we are either witnessing defeat by a thousand cuts or the slow drip-feed recovery from a low ebb that has seen skipper Ian Walker plummet from, in sailing parlance, "the penthouse to the crap-house" in the space of one month.

The bottom line for Walker and his men is that their goal of achieving a podium place during the race and preferably in the overall stakes remains entirely possible but is increasingly reliant on their pre-construction strategy that has already been publicly acknowledged as conservative.

That approach recognised the toll the race places on build standards, as witnessed in the last edition of the event when three boats failed to sail the entire course, another was lost before the end of the race and almost every boat had significant technical problems during the nine months.

And in keeping with recent history, the fleet has lost one of its number as Team Russia suspended racing upon arrival in Singapore last week because of lack of sponsorship.

Although not unexpected, the announcement was a significant blow for the crew including Kinsale's Jeremy Elliott who was the project sail co-ordinator.

As with Australian Grant Wharrington in 2006, continued participation in the Atlantic stages of race in the spring remains a possibility - subject to funding.

Ironically, two of the boats that didn't sail the entire course placed second and third overall by the finish in Gothenburg, suggesting that victory of sorts can be reclaimed despite apparent disaster.

In that event, five-times Olympic medallist Torben Grael on Brasil 1 took that third place and with lessons learned has returned in this edition with the best prepared (and funded) team of the eight-boat fleet.

His Ericsson 4 has set a world speed sailing record as well as opening a firm overall lead.

But that dominant position is under threat following a light-airs stage from India to Singapore just before Christmas and a repeat of the Alicante in-port series results could erode a comfortable 4.5 points advantage further.

Telefonica Blue skipper Bouwe Bekking is not only a five-times race veteran but also an accomplished in-shore racing skipper and well-matched against Grael for the two races next Saturday.

His edge in light winds will certainly be delivered by the light construction of his boat and of stable-mate Telefonica Black who produced clean 1-2 results in Spain.

Grael, on the other hand, failed to make the podium in either race and, if that is repeated next week, could see his lead weaken to just three points.

In contrast to previous editions of the race where clear leaders were clocking up large point leads, Grael is far from assured of overall victory.

For Walker, also a proven in-shore specialist, who scored a third in Alicante, now has an even better practised team on board.

A mid-fleet or better result next week is feasible as well as essential although the team will be braced for slippage from fifth overall to sixth as Telefonica Black lurks just one point behind.

Where Walker and his team-mates will be hoping for some traction is in legs four and five where their more robust construction is likely to be tested and could deliver an advantage over the teams that have pushed limits to the maximum.

Although leg four covers 2,500 miles from Singapore to China, all or most of this is expected to be upwind in fresh to strong conditions that will certainly deliver a pounding to the fleet.

Both the Telefonicas have been revealed as susceptible in even moderate conditions while Puma Ocean Racing had serious structural issues in leg two that are claimed to have been resolved.

If next Saturday's in-port race doesn't deliver a turnaround in fortunes for Walker's team, the remainder of the New Year is almost certain to provide opportunities aplenty.