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ASX spikes as Rio and BHP unite in Pilbara
Shares in Pilbara mining group Fortescue jumped 14% this morning on news of an alliance between rivals Rio Tinto and BHP Billiton.
Albanese pledges overhaul of Navigation Act
The Federal Government will re-write Australia's maritime law, the Navigation Act 1912, infrastructure and transport minister Anthony Albanese said today.
Australian hubs a threat to NZ's liner services
New Zealand is in danger of losing direct liner services to transhipments from Australia, Ports of Auckland managing director Jens Madsen told the Transport New Zealand Summit yesterday.
Slumping commodity prices lead to Australian trade deficit
Australia posted an unexpected trade deficit in April as a slump in commodity prices caused export values to plunge.
Freight, roads the big winners in SA Budget
Road freight and traffic amelioration were major beneficiaries of yesterday's South Australian Budget.
Dry bulk recovery depends on cheap ore prices
The dry bulk boom, particularly for capesize bulk carriers, will continue only if the cost, insurance and freight rate for iron ore from Australia to China remains below US$70 per tonne, a leading commodities executive said yesterday.
