"Toll is much the same but only better because it can have the...

"Toll is much the same but only better because it can have the port - road - rail link for customers in and out of Australia"


Its all a result of globalisation.
Transcontinental rail fits the model.
In Australia for instance, very few ships call into Adelaide. Patricks use to operate Adelaide as an inland post, ship unloads containers in Melbourne and the Adelaide part railed overnight. Similarly with Perth. Not all ships from say Singapore circumnavigate Australia and call into every port. Sailing schedules are complex and affected by container flows volumes, sailing times demurrage times etc.

Similarly in the USA. An importer will receive a consignment from say, China, either on the East Coast or the West Coast and distribute the cargo inland across the country.

If we can see those things, Buffett can see those things.

Anyway, as far as Australia is concerned Toll owns all the good stuff and we own Toll.
What do we do next? Who owns the ships ?
Buy Maersk ?
Lets get global folks.