What can GRR do with its excess cash, page-34

Not sure why u think its such a stupid idea for buying some ships.

GRR are aiming for 3m tonnes a year which will cost around $60m to shop at current $20 a tonne shipping cost. Currently using 80000t ships which equates to 38 shipments. Takes around 2.5 months for ship to return so 1 ship can do aroung 5 shipments a year which means total ships needed about 7 ships. Each ship costs to buy about 15mil each from what I know. So total cost upfront of $105m to buy 7 ships. In 2 year GRR would have paid for the 7 ships. After 2 yeas it would be an extra minimum 50m a year saved.
So it would cost 105m to buy ships which is just this qtrs profit and in 2 years we would have an extra 50m a year to invest or give as dividend.
Show me a bad investment that returns %50.