While you would think the cash on hand should help, its quite possible for a company for MC to trade below that for an extended period. Mt Gibson did it for what seemed like an eternity.
its what they do with that cash in these times thats important. Be seen to piss it up against the wall and the MC will keep tumbling.
IMO getting USD is going to become more difficult now so the shipping of all companies will be worth keeping an eye on again, if cant get an LC cant book ships.
I would be quite happy if closes above 1.16 i must be honest.
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