Hi Westcott,
from stephen bartholomeusz article today re FMG
"What may have been underestimated are the offsetting benefits Fortescue and other commodity producers are experiencing as a result of the collapse in commodity prices.
The Australian dollar, oil prices and shipping costs have all also tumbled in response to the abrupt and quite savage implosion of the commodity price bubble."
he goes on to say 40% reduction in shipping costs....
Ann: Dec 2014 Quarterly Activities Report, page-85
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