shipping contracts update, page-25

Very good post/reply sharks37.

The crux of the matter is, that In a statement Fortescue said: "Fortescue sought legal advice before
> taking its
> decisive action under the contracts and will continue to do so in the
> prudent
> management of this issue.

As such, I think that the Lawyers think that there is a way of at least reducing the costs that will come out of it all, if any, especially by way of negotiations. Negotiations always tend to reduce any damages/liability costs, IMO.

After all, if it is going to cost $20 per tonne to ship the iron ore for a while from now on, the shipping company cannot claim the full contract loss. They can only claim what is the actual loss, IN CASE THAT FMG WILL LOOSE THE CASE, IF ANY, and that has to be proven in the Courts.

Funny enough the ones who are rubbing the salt in the wounds, are the ones who aren't holding any FMG shares.
MMMHHHHHHHHH!!.

Buddy