I was about 12 YO ( about 60yrs ago ) when I watched workers blow up a big tree stump as part of a residential development. I asked someone what they used to split the stump and they told me Ammonium Nitrate and diesel oil. They towed a woven rubber mat weighing a couple of tons over the stump before pushing the button. Not good if a pile of wood, rocks, and dirt was to shower the neighborhood! About twenty four years ago port authorities in Beirut confiscated 2700 tonnes of Ammonium Nitrate bound for Mozambique because the Russian ship could not pay the port 'fees' at the time. It was this same AN that went KABOOM when the fireworks stored nearby caught fire a couple of years ago. I went on the web and looked up "Apartments for sale in Beirut". Some had Italian marble tiles and were priced up to $2M USD. The view from a few of them actually showed the wharves where the big bang occurred.
Corruption abounds on the wharves in places like Beirut and here as well. However if ever you look up "Port Efficiency Worldwide" you will find that 8 out of the top ten wharves in the world are in the Middle East. The best Australian port was in Adelaide I think. It came in at about No. 180 with the rest of our capitals way behind.
ORI Price at posting:
$15.10 Sentiment: Hold Disclosure: Held
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