I was on a yacht sailing from Sydney to Newcastle on 28th December (stayed over night in Newcastle harbour). Very interesting to sail through all the bulk coal ships waiting to be loaded.
I counted 33 coal ships from just north of the Entrance to Newcastle. They are very big when you approach them at sea.
I suppose the same thing is happening off Port Kembla.
Newcastle is an interesting harbour to sail into. There was a large ship in floating dry-dock next to where we tied up undergoing repairs well into the night. There was also a massive super-yacht about 140m long tied up nearby.
RIV Price at posting:
$7.13 Sentiment: Buy Disclosure: Held