Browny,If MAK sells their RP anywhere close to the Moroccan...

Browny,

If MAK sells their RP anywhere close to the Moroccan price then people may as well go and buy Moroccan.

To be honest I would hate for the price of RP to drop to such levels where the only way that MAK can profit in a minuscule way is through a $10-$30 freight savings incentive.


I would have sold out long before that.

I don't see this as being the case anyway so I think that we are delving into territory that will never be chartered.

At a RP price of US$230/t MAK will have a profit margin of at least US$100/t.

I calculate that after royalties and tax the share price will still be at least $20 with a PE of 12 even if the price of RP drops to that level.

I'll be very happy with that.

:)