Time to look at shipping numbers for Sept'13. Looks better than when I last looked with KML down one ship compared to Aug'13 - think it was 11. Nameplate is 14 ships per month with higher quality IO. With the strengthening $A, lower IO volume and lower magnetite %FE content, I would expect worsening negative cash flow in Sept'13 from this perfomance. Lets hope that additional funding for GBG to help KML with unforecast negative cash flow during the Dec'14 quarter is secured soon/ before they run out of money.
1. Zhao Yang Feng 2. Stefania Lembo 3. Ever Best 4. Bulk Portugal 5. Hector 6. Oriental Wise 7. Great Rich - at anchor 8. Yun Long Feng - at anchor 9. GH Glory - at anchor 10. Xiao Yu - 28/9
GBG Price at posting:
14.0¢ Sentiment: ST Sell Disclosure: Held
