[Cydayshosse]

Australian State Seeks A$15 Billion for Ports, Rail

By Jesse Riseborough

June 2 (Bloomberg) -- Australia’s Queensland state is seeking to raise A$15 billion ($12 billion) selling its entire coal railroad network and two export ports to make up an expected revenue shortfall.
The Abbot Point coal terminal, the Port of Brisbane, the state’s coal railroad business and other assets are for sale, Premier Anna Bligh told state parliament today, according to a copy of the speech on the government’s Web site. The sales are to be completed over the next three to five years, she said.
The worst recession since World War II has also prompted Babcock & Brown Infrastructure Group to consider bids for Queensland’s Dalrymple Bay port, the nation’s second-biggest coal export terminal. BHP Billiton Ltd. and Xstrata Plc are among producers in Australia’s biggest coal shipping state.
“This global financial crisis has caused us to examine our asset base in light of current challenges and modern priorities,” Bligh said. “The challenges of this century demand we subsidize public transport, not the freight transport requirements of coal companies.”
Queensland, the nation’s third-most populous state, needs to sell the assets to help fill an estimated A$14 billion slump in revenue over the next four years as the recession crimps government earnings. Selling the assets means the state will avoid a further A$12 billion of required investment over the next five years, Bligh said.
Coal Prices
The sale of coal assets in the state comes amid a 57 percent slump in prices for coking coal this year as global demand for the steelmaking raw material plummeted.
Queensland Rail is Australia’s largest coal transporter and the sale of its non-passenger assets could fetch A$7 billion, Bligh said. Queensland Rail operates 550 coal services a week from 56 mines in two states and also runs Queensland’s passenger train network. In the 2008 fiscal year, Queensland Rail hauled 184 million metric tons of coal.
Abbot Point, Australia’s most northerly coal port, is located 25 kilometers (16 miles) north of Bowen and has an annual capacity of 25 million tons. The terminal is operated by the Australian coal unit of Xstrata, the world’s biggest exporter of power station coal. Abbot Point shipped 12.5 million tons of coal and handled 169 ships in the 2008 fiscal year, according to the Ports Corp. of Queensland.
The Port of Brisbane is the nation’s biggest exporter of beef and cotton, handling about half of the country’s exports for both commodities, according to the port’s Web site.
The state is also seeking to sell Queensland Motorways Ltd. and Forest Plantations Queensland, Bligh said.

http://www.bloomberg.com/apps/news?p...0_0&refer=asia

[Extipletape]

So you're not isolated, you're China's *****.

[gMUVgw71]

So you're not isolated, you're China's *****.

Are you trying to turn trev into Dale 2.0?

[warrgazur]

Yes, backwater colonies of the United Kingdom, like Australia and Canada, do have their good points, believe it or not. It's not all kissing the queen's lily white bulging ass.

Check your jealousy at the door.

[Pasy]

Yes, backwater colonies of the United Kingdom, like Australia and Canada, do have their good points, believe it or not. It's not all kissing the queen's lily white bulging ass. Better the Queens ass then the alternative.

[Loonerisav]

sounds nice. The recession is hitting my area very hard.

So would they let an American immigrate to Australia? I suppose I'd have to learn the language first. It seems like American lets everyone in, but other countries don't let americans in. I hate living in a screwed up country. I want to live somewhere without rampant violent crime.

p.s. I was kidding about the language bit

[sportbos]

Sad fact; You're still Australian.

[favwebbb]

Norway has oil, and I guess that's why we are better off today than when the so called (here) crisis came.

If Scandinavia was a family, Norway would be the retarded younger brother that everyone smiles and nods at when he talks.

[dremucha]

You are selling OUR oil - renegades

Actually, Iceland, Greenland and other islands with oil near them historically belonged to the Norwegian crown. Be glad Sweden and GB was stupid enough to believe you back in 1814.

[majestictwelve]

trev just jinxed it

[Bbjhjxfy]

It seems like American lets everyone in, but other countries don't let americans in

The US has the most restrictive immigration laws in the English-speaking developed world, outside of possibly New Zealand.
Sadly, it's true. I have looked into immigrating to America just for the hell of it, but even with my skills, it's a major chore, which I can't be assed to do.

New Zealand can afford to be picky.

[F1grandprix]

My skills are far more fun and cooler than yours.

[cefunonge]

dp

[lipitrRrxX]

Development is faster with cheap labour, look at China, India, Dubai.... You should be thankful you have an overwhelming population of Hispanics willing to build your country for a few dollars.

New Zealand was first (or first western country?) to open free trade agreement with China. Australia, stealing our ideas as usual, soon followed suit.

Reaping the benefits from the NWO first.