Ann: Aurizon secures major national freight contract, page-176

I sold at about $3.88 if I recall.

I am concerned that the intermodal contract (i.e. the 30 per cent of wagon space that needs to be filled, although breakeven may be if 10-20 per cent of this is conveying containers) will see AZJ lose millions per annum, especially north-south i.e. Brisbane-Sydney-Melbourne. East-west to Perth seems to be doing better as WA consumer spending may be higher per capita than in NSW and Victoria.

AZJ has to compete with road transport, especially noth-south while other rail operators SCT and Pacific National also have intermodal trains (and SCT its large wagons conveying palletised loads). Rail supplies WA with groceries, hardware - you name it - anything manufactured in or imported into the eastern states.

Against this, coal looks to be doing well. It has a future as one broker suggested.