Three reasons, page-51

Everybody is ranting and raving about how the IO spot price has collapsed.
They seem to think that today's price will dictate if we get financing or not.
The IO price will not start to impact SDL until we start shipping (2019-2020).

IMO, this is the best time to start construction, at the bottom of the cycle.
Not to mention world wide record low interest rates at the moment.

Hopefully we can start shipping when the IO price is on the rise, in 5 years time.