shipping news, page-8

Yeah I would rather take a wait and see approach to this allegation as well bottomup than read the spin and hype in this type of industry specific media. If you found a resource website I am sure they will put a completely different spin on it as well. Why? Because its industry specific that's why and that is exactly why I don't consult them either. I wonder where the journalist concerned gets his information? That's right off the shippers and we know that will be an unbiased source eh? So far only 1.5 million US has been frozen and was contemplated by the company. Why? because it was contemplated and that is all that FMG had in its US accounts before the order was made. LOL That's a long way off hundreds of millions isn't it? Who told the journo hundreds of millions? yeah you guessed it some little media contact at the shippers before the event who hasn't got access to FMG's accounts or bank balance in the US accounts. That might have been what the shipper thought they would have frozen on the order but they didn't eh? I note the date of the article in this context too which is also a red flag. The disclosure to the market by FMG states that the amounts are not expected to be material and it is business as usual. How does the company know it will not be material? Because no money will be going into them. Why? Because the freeze was contemplated.

The suggestion that maritime lawyers engaged by FMG didn't know of the possibility of the orders I find to be an amazing allegation if true. Why? It is a very complex jurisdiction and lawyers who practice in it in my experience are to put it simply not stupid people. There would have been a lot more money in the accounts than that if they didn't know about it I would have thought.

I notice as always the people posting these articles don't have a stake in FMG. It's not just on the FMG thread either but across any thread on any stock forum. I know that and accept it. We all do it from time to time that is for sure and I know people do it for very ligitimate reasons at times on some stocks in particular where they don't have a stake. But objectively speaking I find some posters passionate embrace for the welfare of others trading on the stock market as always an enigma. So what is their motivation in trying to convince everyone that the sky is falling on the stocks they post on when they don't have a stake?

Mmmmm Play some thinking music for me Bottomup but keep it short mate will you. To answer that question it is always best in my experience to apply the explanation that requires the fewest assumptions and that will most likely be a pretty accurate answer. Having said that post away I say but don't try and conceal the real motivation you do it.

Will the sky fall down on fmg? Honestly! I don't know until I have more information as its released in the proper fashion on the proper forum ie the ASX ie not Bob Rust in Stamford on www.tradewinds.no.

Cheers all ,Merry Christmas and a very safe New Year