The two wildcard are ships having been sent with less ore on them than you would expect given their capacity and inventory levels being pulled down to very low levels. This could occur if E25 now had the confidence to commission ships before having all the ore ready and at Port Hedland. If neither of these two have happened, then the quarter should be an improvement in terms of the amount produced. The recent shipment frequency is consistent with volumes higher than 60kt per quarter. Taking the mid-points below, perhaps 100kt will be shipped across perhaps 105 days. (If I have been optimistic on loading volumes and drop this back a little it might be 90kt shipped over perhaps 110 days). Both are more than production rates of 60kt/qtr.
We know Pan Poseiden left later in April from the quarterly. Sorry I don't have an exact date. She would have taken 50kt and possibly as much as 55kt. We know Aqualeo left on 31 May (@Garant noting the ship and then seeing when it departed). This again is likely to have been 50-55kt noting the proviso that she could have sailed with a reduced cargo.
@Garant has noted Orion is booked by E25 with a scheduled arrival date of 3 August. Orion has slightly less capacity than the last few ships at 56kdw so loading may be nearer 45-50kt. Its unclear if this vessel is towards upper limits in taking E25's commissioned load or E25 plans to send less on this ship (and if so why?).
E25 Price at posting:
60.5¢ Sentiment: None Disclosure: Held
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