No, I have not said "all these miners have their own fleet". What I have said is that some of the miners have ships. VALE will have when done taking delivery, 35 VLOCs either owned or long term chartered in of sizes ranging up to 400,000 tons. This fleet is capable of carrying 44 million tons per year. They also own 14 capes that can carry an additional 10 million tons per year. This is a very long route so the ships are expected to only make the journey four to five times a year. VALE will produce over 300 million tons this year, so their fleet is capable of carrying merely 1/6th of their production.
BHP, RTP and FMG have a handful of vessels and some on order, but no where near the scale of Vale. Vale is doing it out of necessity. They can't compete without getting their shipping costs down to a level that they can sell their ore at a reasonable discount to the Aussies to remain competitive when it comes to the final landed cost in China.
Looks like it held up, sort of. Hope some of you that actually did buy in the 40's and 50's get some profit out of your trade before the reverse split.
That's some funny sheet right there, Lisavargas33.
I am an investor with about fifteen years experience in the sector who decided to make myself as educated as I could about the waterborne shipping industry. It is fairly transparent and there is tons of data and websites that can help anyone wanting to be really informed get up to speed.
Stupid question. The most common flags of convenience are Panama, Liberia and the Bahamas. A couple of dozen others that could be used. Of all the Greek US traded companies, VERY few fly the Greek Flag. They also are mostly incorporated in the Marshall Islands, as FREE is, to avoid all sorts of things like lawsuits and taxes.
Time's up. There are 1625 of them. 60 delivered this year. 50 more scheduled. Each carries about 1,000,000 tons per year. VALE is going to ship 22% more ore in H2 of this year than in H1. Thats about 40 million more tons. Add in RTP, BHP and FMG additional production and Capes get in very short supply later this year.
LOL! They own 78 million shares of ORIG and they get a $15 million quarterly dividend. They owned 73.6% of ORIG, not 100% as of the Q4 2011 report. Billions in revenues went to buy $8 billion in UDW rigs and vessels. You're pretty stupid.
He has turned bearish as DRYS made it's lows. What sort of idiot gets is completely BACKWARDS? Not just a little wrong, TOTALLY BACKWARDS!!! LOL! Waste of oxygen.
Two have charters that just ended. One is not yet returned to service after being hijacked FOUR YEARS AGO. You two bit lying gamblers are stupid.
You don't even have a clue about maintenance for a drybulker, when it needs to happen, what mandates it, who makes sure it is done and in a timely manner, NOTHING. You are just rambling on making stupid comments.
You clowns are a laugh riot. What other stupid comments will you make about the company that you don't know at all?
They did not. They got these for trade debt. You are a liar. I'm done responding to your stupid comments and questions. You clearly don't know jack about the industry or FREE. You should shut up or ask for help. But obviously you don't understand or can't read financial statements.