Word: ores
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Dates: during 1970-1979
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...international shipping business is inextricably tied to the fortunes of Japan, which now faces a slowdown in its economic boom. At the heart of the problem are the Japanese steel mills. Japan is the world's third largest producer of steel, but virtually all of its iron ore and coal must be shipped in from mineral-rich countries abroad...
Since 1965, Japanese steel production and the corresponding coal and iron-ore imports have grown at an average 11% per year. Unable to meet the coal and ore import needs of the mills, Japanese steamship companies began chartering extra tonnage from foreign shipowners. As a result, almost all freight rates were pushed skyward. At the peak of the boom in 1969, the steamship companies were chartering Greek and Norwegian vessels to haul coal from Hampton Roads, Va., to Japan for the hungry steel mills at rates that gave the shipowners profits of as much...
...Eugene, Ore. June 1971. Meriwether, improbably garbed in gold swim trunks, a white hospital shirt and gold-and-white-striped suspenders, steps into the starting blocks for the 100-yd. dash in the A.A.U. championships. The gun sounds. Meriwether streaks for the tape with great, loping strides and wins, in the astonishing time of 9 sec. flat, a mark equaled by only one other man in history, the U.S.'s John Carlos...
Baby-Bottle Boil. There may be less to the soft revolution than meets the eye. Bausch & Lomb began marketing its Softens on a limited basis last week in Portland, Ore., but so far soft lenses are virtually unavailable elsewhere in the U.S., and company officers say they will not be sold nationwide until next year. One potential competitor, Griffin Laboratories of Buffalo, only last month received Food and Drug Administration approval to begin testing its product. Another manufacturer, Union Corp. of New York City, has not even applied for approval...
...Pilbara supplied a quarter of Japan's needs of 82 million tons of iron ore. By 1975, Japan will be using 175 million tons, and Western Australia will be providing 70 million. Some Australians have grumbled that the Pilbara will simply become "a quarry for Japan." The best answer is provided by Charles Court, who set the great iron ball rolling in the Pilbara seven years ago: "A quarry has no soul, no permanence. Next we have to develop industries in the north. I think the great task for Australia is to develop new northern cities, and not simply...