From announcement:
"Shipping Contracts Update
Fortescue Metals Group Ltd (“ASX:FMG” “Fortescue”) advises that further to
previous announcements regarding the suspension and/or delays of certain
shipping contracts, it is continuing its review of the legal status of such
contracts.
Fortescue sought legal advice prior to taking its decisive action under the
contracts and will continue to do so in the prudent management of this issue.
Each of the ten (10) contracts that have been actioned, need to be considered
on their specific facts and merits as Fortescue will use all the appropriate legal
mechanisms for determining the disputes that have arisen between some of
the parties and any future disputes that may arise. Fortescue will continue to
update the market if there are any material developments."
Looks like this has further to play out yet. as mentioned before, we are talking some serious cash here.
From announcement: "Shipping Contracts UpdateFortescue Metals...
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Last
$22.62 |
Change
0.700(3.19%) |
Mkt cap ! $69.64B | |||
| Open | High | Low | Value | Volume |
| $22.38 | $22.75 | $22.26 | $131.3M | 5.814M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 120 | $22.62 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.63 | 6416 | 3 |
View Market Depth
| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |