No milk today
my love has gone away
no ships today
BHP has them away
After BHP and RIO failed to prevent FMG using their railway line they have now prevented FMG from being able to meet any short term targets re IO deliveries as they have booked all available Cape-size bulk carriers. FMG has been able to obtain only one ship at an extreme price (cost of US$44.50/ton!!!!)which has hollowed-out the profit from this delivery. Forrest is now calling for a 'truce' but why should BHP give them any use of ships when BHP can sell IO on current spot market at extreme prices?
Incredible how FMG overlooked booking ships for june/july/august after announcing with great fanfare their will meet target date of 15 May.
See full article in today's Oz.
No milk todaymy love has gone awayno ships todayBHP has them...
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