Ann: Wellard Successful in International Arbitration, page-36

I very much doubt it has anything to do with contract provisions. Wellard leases the ship from Heytesbury who is also a large shareholder. H acquired the ship from W under a sale and leaseback arrangement to help W through its liquidity issues a few years ago.

Dec-Feb is the wet season in NT and there is very little cattle turnoff over this period. With live cattle prices at record high, oil price at record high, and plenty of ship capacity for the NT-SEA routes, I can understand why it has been dormant.

Cattle prices have been softening in Australia for the past couple of months. With the herd rebuild now complete (post drought), and the wet season over, I reckon prices will come down a long way this year. This will allow live export volumes to SEA rebuild to historic levels, tightening ship capacity, increasing rates…