[B]A Commodity Boom Gets Stuck In the Harbor[B]
The Wall Street Journal, July 7, 2005 by Patrick Barta
Gridlock Down Under
Australia has lots of coal, but has trouble exporting it efficiently. Ships are sometimes anchored for days waiting for a docking berth, and coal may come from mines that are hours away from the port.
Nearly 20 ships were anchored in the Coral Sea on a recent morning, waiting to be loaded with coal to fuel Asia's voracious steel mills.
Queensland, Australia, has some of the most prolific coal mines in the world. But Dalrymple Bay, a key port located just outside this city, isn't big enough to meet the demand. So the ships continue to idle--many will be anchored for days--and the coal mines can't expand....
Any comments, and further info from all you Queensland planners? Why isn't Australia investing a few billion dollars in its harbor infrastructure?