Yes, but MGX didn't use Panamax bulk carriers to ship the ore. The quantities MGX shipped were under 60,000 tonnes so they are using Supramax vessels are at US$31,600/day.
Supermax carries 50,000 to 60,000 tonnes. Therefore the shipping cost per tonne is more.
Ann: GRR - Quarterly Report for 3 months ended 30 September 2021, page-44
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