The Future, page-92

According to Qld Ports public pages the C Liberty is planned to set sail on the 16th while the Star A on the 20th. The last ship to set sail was the Nicon Fortune on the 27th of April. If the 2 ships at the Skardon anchor set sail by the 20th, that tells us that it has taken 24 days to load approximately 125,000 WMT or 5208 WMT per day. The bulk carrier Apus is currently in the Gulf and should anchor just after midday today. The above summary raises the issues we faced last year of demeurage. MMI have never really reported what % of the shipping cost blowouts were due to demeurage. Usually this is chargeable after a certain number of days at anchor and in the estimated range from $10,000-$30,000 US per day.

For that volume to be loaded, it is my opinion that the reasons surrounding the above requires an ASX release ( continuous disclosure requirements). The main reason being that guidance may now impacted unless MMI expect loading rates to exceed 15,000 WMT per day from now to the end of the quarter. We can only hope that they do make that improvement. For now, speculation will grow unless MMI give the market an explanation.