Hi RDD , I suppose if are able to procure some more Tugboats and a fleet of floating barges and a barge with a stacker/reclaimer on it they’ll be back in business at a reduced rate at least. However , S32 has only informed the market that the wharf was damaged during the cyclone but critically the ship loader conveyor is out of action too. The wharf pylons underneath the gantry frame that hoists the conveyor up/down, in/out and has the operations cabin attached to it, have been damaged and the the whole thing is leaning over like the tower of Pisa. “Groote” is correct, the pylons have been piled directly into the seabed , there’s no concrete foundations or headstocks. I’m assuming no one will want to claim responsibility/liabilty and the legal eagles from all sides (Gemco/Ships owner/Ships Captain/Pilot/Harbourmaster) will be dotting their i’s and crossing their t’s while I assume the Maritime Safety Authority are investigating how the ship came to be moored to the wharf during a cyclone. The whole situation is messy , I’m no expert at law but in my opinion it can’t be classed as an accident or damage caused by a natural disaster but rather more its negligence. At the end of the day , the port facility is Gemco’s asset, which they’re responsible for , that’s why they’d have Cyclone procedures to follow to protect their asset.
S32 Price at posting:
$2.93 Sentiment: None Disclosure: Not Held
(20min delay)