Thanks guys for the input, knew this would start a healthy...

Thanks guys for the input, knew this would start a healthy debate;)

So what I gleam of everyones input is that we ideally expect to see hedging initially for a two year period, which is in line with the C/n notes, debt repayment, and which should maximise the initial hedge price.

To throw a spanner in the works, I'm actually scceptical that a specific hedge price will be set in the next couple or weeks. I suspect anny ann will just be the framework that is signed, with the price being set prior to the first delivery (ie 2008)....and thus giving us another 12+ months to consternate.