attached is link to Graincorp shipping, updated today :
Every ship, irrespective of the cargo earns money for Graincorp. Noting also that Fishermans Island in Brisbane is (again) taking cruise vessels- big dosh
The cement ships from Port Kembla and Fishermans Island are also great revenue earners as some silos in these ports have also been converted to storage.
Don't focus on the wheat quality, its irrelevant, volume is the important thing.
As far as the competitors go - the secondary (non graincorp) terminals in Port Kembla, Geelong, Newcastle (maybe a couple of other sprung up now) are also doing well.
I am also seeing some increased infrastructure - in Port Kembla, there used to be a few 'Graincorp' tagged rail wagons, others being 3rd party providers. This now is NOT the case, saw a massive train - all with Graincorp logo (i think was at least 30 ) - so Graincorp are involved right through the supply chain, the guys out in the bush maybe able to shed more light on this, as to how Graincorp are controlling the chain outside the ports.
It's a simple model - control as much of the supply chain as possible - make a margin on each.
-Future developments - as Graincorp have a number of serious supply contracts in place, i forsee, rather than chartering ships on the spot market, they will actually start to own their own shipping assets, this makes a lot of sense, as these ships can service the domestic market, as well as supplying close neighbours. But what makes this even better, is that they will be able to backload fertilizer (fertilizer ships need to be grain suitable or better) - making this a potential highly profitable operation.
Hope you are watching Graincorp! The imagination shown in the last couple of years is impressive.
Ports still accumulating on the dips !
GNC Price at posting:
$7.91 Sentiment: Buy Disclosure: Held
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