No Stephcn, i am still monitoring and following these threads.
At the time i was concerned by the sentiments and statements being made by many contributors which demonstrated a lack of understanding of the drivers of the live export sector.
Without been unduly negative i attempted to provide some insights into these drivers, however some were unwelcoming of these insights; hence i sat back to watch the carnage and confusion unfold..
Australia has a robust and diverse live export industry; the players range from large corporate's similar to Wellard, with long term vessel charters or their own vessels down to small players who access vessels on single or multiple voyage charters.
As a sector they share a common bond; they all deal in a "live" product that is not only perishable but is also susceptible to rapid devaluation based on specification requirements and being a "live" product what i in spec this week move out of specification if delivery is delayed.
Exporters also share a bond in that in recent years they have suffered an extremely trying trading environment. Everybody is bleeding to some degree.
The steady decrease in SP is indicative of the degree of difficulty faced by Wellard in bringing shareholders along on this journey. Reality was that it was never going to be a smooth ride; those in the industry know and accept that; yet it appears the majority of the shareholders who invested in this stock viewed this as an exciting business churning out widgets and putting them on boats with the end users picking up market costs etc along the way.
It is just not that simple.
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