10- next step was probably inevitable - the development of a backhaul cargo. This, again, has greatly expanded our activities, and our people are now concerned with picking up a cargo of grain in Portland for delivery to Chile, or oil in Sumatra for delivery to California. To put the ocean shipping picture which we manage in proper perspective for you, let me point out that the tonnage that will flow out of San Juan Bay this year will exceed the combined tonnage of foreign imports and exports through the City of San Francisco - that in less than four years the Marcona exports from San Juan Bay now represent substantially over half of the exports from all Peruvian ports. These iron ore exports, if loaded in American railway cars, would require a train greater in length than the distance from San Francisco to Los Angeles. The cargo fleet that we utilize has a total deadweight tonnage greater than all the cargo vessels owned by that fine company, Matson Navigation. Ocean shipping is truly an international business, and, I realized it when I took say wife to Japan to christen the first vessel. Here was a French girl christening a ship built in a Japanese shipyard,