You are thinking 'greater capacity would mean management can negotiate better cattle prices' . This assertion is only correct if there are lots of cattles supply in the market and WLD can go for what ever they want. But you may know that the fact is that supply is limited and farmers have much more bargining power than the exporters. If WLD could not offer a better price, farmers would not sell the cattles to them.
Did you see WLD already have excess shipping capablity problme at the moment? Shearer is sitting idle at the moment and waiting for the Brazil cattles to come. When Kelpie arrives, there is no more cattle to ship in Australia. And Shearer even could not run in its full capacity due to the logistic problem in Brazil, How would the logistics in Brazil give much job to Kelpie to do?
Kelpie should be arrived at the time when there are more supply in Australia, the closest estimate is two years or until the logistics in Brazil is smooth. Otherwise, it would be only sitting there, incur addtional repair and maitainance cost and most importantly, the hugh interest payment on the vessel loan.
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