Latest Thoughts, page-36

Andy in the WLD 2020FY PROFIT thread has laid out some great analysis of the finances of the company which is well worth a read.

We are at a stage now I think where all restructuring work carried out to date is just now going to start to bear fruit. The market will want to see this now and in 2021 in hard financial profits which look to be sustainable based on business model. The material change on finances with the sale of the Shearer is huge given eradication of large monthly repayments which were especially troublesome with under utilization of the large vessel.

As mentioned in another thread the buy back of the Swagman would be a positive. This report may allude to this for 2021 in the forward looking narrative but may wait and see. Any potential return to live export trading is something to look out for. My novice thoughts are they will remain specifically as a charter only operator for FY21.

I would like to see the south american - turkey trade route reopen as provides opportunity maximisation of the Drover.

This first of 4 export shipments from Chile to China is new so may provide a new business route in the years ahead.