Linker, Sorry. In response to your query to my post, I did tell you that I was told by ADY that they had 48kt of iron ore at the port awaiting shipment (ie a full stockpile). I also said since a ship had just arrived I assume ADY must have sold the shipment. That's a fair enough assumption since I was told it was ADY's 48kt stockpile. Again sorry. I admit I was surprised to see the ship appear so quickly.
So how about filling us in on what Maria just told you? Namely:
"Santa Fe has never stopped shipping. They owe ADY 410,000 tonnes of iron ore for the WISCO contract."
That sounds to me like Santa Fe owe ADY US$90m (spot price) worth of iron ore? I have not heard that before.
I assume Santa Fe will replenish the stockpile for ADY's shipment asap. What about the rest that is owed to ADY?
kacy
demerger, page-16
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