http://www.msnbc.msn.com/id/5026647/NEWCASTLE, Australia - Four miles off Nobbys Head, a spit of land jutting into the Pacific like a beckoning finger, 34 bulk freight ships sit anchored in involuntary vigil, pounded by ceaseless wind. They are waiting their turn to proceed to the wharf and load coal for power plants in northeast Asia. Waiting for at least two weeks.
At its worst in March, the queue stretched to 56 ships. People on land took to driving to a lookout point for amusement, counting the hulks marooned off their shores by the vagaries of global trade.
The immediate reason for the seagoing traffic jam is that the rail system cannot handle the demand at the world's largest coal port. The more meaningful explanation goes far beyond Newcastle: What is happening is a ripple effect from the ascendant economic force of China, whose seemingly insatiable demand for raw materials is reshaping commodities markets worldwide and straining the systems that move....more...
And just imagine what will happen when China oil needs start to
butt heads with the US's oil grab.... :eyes:
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