RIO and BHP both have large freight portfolios and both trade freight on the market. As well as being cargo owners and paying shipowners to carry IO, RIO and BHP are large shipowners in their own right and ship charterers, They are therefore on both sides of the fence in regards to the freight market. Whether they are suffering or benefiting from the collapse of the feight market depends on if they were long or short on freight.
FMG were unfortunate in they commenced operating at the time when the freight market was high and therefore most of the their freight cover was done at high levels.
fortescue suspends shipping contracts, page-26
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Last
$21.57 |
Change
-0.190(0.87%) |
Mkt cap ! $66.41B | |||
| Open | High | Low | Value | Volume |
| $22.01 | $22.10 | $21.52 | $119.4M | 5.503M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 13058 | $21.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.58 | 11798 | 1 |
View Market Depth
| Last trade - 16.10pm 02/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |