Given the margin Core has, shipping costs are only a very small portion of the US$951/t sale cost. Shipping costs become a lot more important issue when selling product lower priced bulk ore products like Iron Ore, Coal and Managanese and the larger sizes noted below become important. For those interested in how shipping costs have changed over time, google "Baltic Dry Index" and one of the first hits will be trading economics. While Core has been constructing its mine, shipping costs have bounced all around the place and caused grief for those caught with lower value bulk products at times when shipping prices were high.
Core's July 2021 fines scoping study noted in the fine print that a shipping cost of US$20/t cost was estimated. This shipment is therefore likely to be somewhere around this amount. At a price point of $951/t Shipping cost are only a couple of percent so it doesn't alter the margins much. It would if DSO was at a $85/t price point assumed in the fines case (although that was a lower grade DSO fines product).
The main bulk carrier sizes are below. Within Handysize, its further broken down to Small Handy (10,000-24,999), Mid-size Handy (25,000-34,999) and large Handy (35,000-39,999). Rossana happens to be a large handy at 39,935 DWT capacity but they would have been the cheapest bid, located in the right area of the world with availability at the right time.
If Core is producing 180kt/year (45kt/qtr) and wants to report revenue every quarter, shipment sizes will typically need to be a combination of Handysize and Handymax ships so these terms may become more familiar.
