SP3,Yes port congestion is a big problem-a direct result of the...

SP3,

Yes port congestion is a big problem-a direct result of the strong demand for coal from Asia.

Here's an interesting article below relating to this congestion.The number of ships waiting each day is quite staggering...

http://www.iht.com/articles/2007/08/14/business/sxport.php#end_main

The Chinese (main consumer) are doing everything they can to minimise their exposure to a semi monopolistic resource supply market. The last thing they want to see is a rise in resource prices as they continue their impressive growth. As a result we see each day mitigation strategies with Chinese involvement in buy ins, JVs, supply off-take agreements, exploration partnerships, etc etc

With consideration to the above I suspect the visit by the Chinese last August to see ESI technology won't be the last. It was a 'scouting' excercise.


Cheers,