MGX 1.39% 35.5¢ mount gibson iron limited

The MBA Giuseppe departed last night fully loaded for Kemen,...

  1. 2,374 Posts.
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    The MBA Giuseppe departed last night fully loaded for Kemen, China. Kemen is part of a bigger port complex called Fuzhou. It's on the Tawain Strait. Kemen appears to have been established specifically to unload deeper draught ships that can't fit into the main port. There are unloading facilities there for iron ore, coal and grain.
    I've now had time to check the Panamax charter rate and it is now about $15,000 per day. [Shanghai quote] It was over $25,000 per day some months ago. As MGX has to pay for the ship, lower rates are good.
    No more ships on the way yet.
 
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