possible scenario, page-9

PGamble - get your facts right. No such thing as a "capex" size ship. You may find this relates to 'Capital Expenditure'.
I believe you may be referring to 'Cape' size shpis.
These were also being touted by management years ago, but as this management has failed to provide in the past, how can they provide in the future.
I again refer you to history.

26/09/2007 Admiralty Resources announced that it is conducting negotiations with various iron and steel mills to finalise the sale contracts for its budgeted production during 2008 to 2011. It is the intention of the Board to sign a three year contract on a Free on Board basis rather than the Cost and Freight basis currently employed. The Company expects to enter a Heads of Agreement for supply of iron ore from 2010/11 to 2018 to be shipped from its proposed Punta Alcalde Capesize port conditional on the ports completion date. The iron ore contract discussions include a new 2007 benchmark price, funding options and a change to free-on-board delivery basis.

regards.