Your idea of saving is valid but shipping is also fraught with...

Your idea of saving is valid but shipping is also fraught with its own dangers and I think maybe that the savings would not always materialise.

I really do obsess with the idea that companies can diversify - but maybe not too far from their main purpose.

Perhaps value adding to their core business - some material benefit to their steel making activity. Plenty of companies have tried to go further and have ended up failing even though their core business is sound and profitable.

In the end we probably should not fret too much about the healthy cash balance. Grange is a rare organisation that has the luxury.

If they can maintain cash growth then the best option is to start paying some fair dividends that reflect that growth. Then we would have the best of both worlds.