Welcome, glad to see you having a look in, your critique is appreciated
Regarding shipping rates, Idlewander made a comment on them last November regarding slightly less carrying capacity ships being booked.I have copied his post in entirity and pasted it here . . .
"I'm estimating 439,500 tonnes shipped for this quarter, so we are within about 1%. Let's split the difference. Number of ships loaded and inbound is right up there with the Tasmanian golf ball makers so far this quarter. But for some reason, and I'm sure many have noticed, we are chartering ships with a smaller carrying capacity lately, around 73,000 tonnes, instead of the 80,000 tonners that used to turn up. I'm not sure why and can only think that someone has done a cost benefit analysis to show it is worthwhile, e.g. less tonnage but considerably less to charter. So less costly per tonne? The Baltic Dry Panamax Index, which measures worldwide charter rates for this sized ore and grain carriers, has halved from its very high values of twelve months ago. It is forecast to keep declining into next year"
MGX Price at posting:
49.5¢ Sentiment: Buy Disclosure: Held
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