Thought so rob, this is probably more accurate.... sorry people...
"IF you want to know what the end of a commodities boom looks like, you need only stand on the foreshore at Newcastle.
Just 18 months ago, more than 70 giant coal ships lay anchored, the queue stretching to the horizon and almost 100km south. Yesterday, there were 17. "
"Newcastle port coal exports down by 28% WoW Bloomberg reported that coal exports from Australia’s Newcastle fell 28% last week amid lower prices.
Newcastle Port Corporation said that the volume shipped in the week ended fell to 1.33 million tonnes from 1.86 million tonnes a week earlier. A total of 20 ships, waiting to load 2 million tonnes of coal, were lined up outside the port, unchanged from a week earlier."
