Forward pricing structure where final price may be delayed by months will negatively influence a quarter when IO price is falling . . . and conversely positively affect the quarter when IO rice is rising.
We saw the influence of such during the rapid cash build which PK acknowledged that the delayed pricing structure helped to contribute.
Now we have seen the effect of a downward movement in IO delayed price had on the most recent quarter, despite having 11 / 12 ships.
Delayed pricing can mislead investors as to whether we have had a good or bad quarter.
MGX Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
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