i think the Chinese are sending their own ships. The first ship was one of the end users own ship since they dont want to pay the silly freight rates. The largest steel company in China has more than one ship and FMG has done multiple deals with these companies. Its up to the steel companies to get the ships here since the iron ore will be FOB. FMG simply delivers the iron ore to port and its up to the customer to provide the ship.
seems fmg cannot make export target 2008, page-2
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