According to JP Morgan FMG's break even point is now $83/dmt US.
If the Aussie dollar moves past parity with the US as Morgan Stanley are predicting and the Iron Ore price drops another few dollars it might end up being a wise decision to go into the shipping business as they will not be making any money out of the Iron Ore business!
Ann: Agreement for Construction of Very Large Ore Carriers, page-16
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