Guo Yuan 10 will arrive later this morning. She will be the last departure for the quarter so we can now rule the quarter off.
I'm reckoning six ships departed for an iron ore tonnage of 456,000 [plus or minus 0.5%]. Last quarter was 710,000 tonnes.
Things were steaming along in July until the unfortunate fire in part of the crusher. As flagged by the Company, shipped tonnage has declined considerably.
It has become very difficult lately to track IO prices. Pretty much all published information has dried up, part of a push by China to set up a buying cartel to force prices down.
I think we can hazard a guess, though, that the quarter will be cash flow negative.
Guo Yuan 10 will arrive later this morning. She will be the last...
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