Ann: Voluntary Suspension, page-76

"Not sure anyone foresaw and magnitude of the IO collapse or the determination of the big 2's anti competitive behavior." Actually, quite a few people did. e.g. the guys at Macrobusiness were at pains to point out the looming oversupply coming on to the market.

When you looked deeper and saw the big $$ committed by the iron ore giants to expand supply, you knew there was no turning back.

I always got the sense that Forrest saw it coming though. He seems to be forever in a hurry to cut costs, probably thought he could outrun the tsunami of iron ore that would flood the market. We'll find out soon enough if he can make it.