SSSShisHHHH I want more.
Australia exported just under 895 million tons of IRON ORE last year.
If China takes 120m tons of ore from Guinea and NOT Australia they will need 103 EXTRA cape-size boats in addition to those already used on the Aussie run JUST to handle the extra shipping distance to receive the same tons in China as before.
The Chinese just don't have those boats sitting idle and they will cost extra fuel to run those extra 50 days of sailing time per load.
Given global disruptions the boats just aren't there with most bulkers hauling other products now missing both the Suez and Panama canals and going the long way around.
I don't see much of a threat to VYS tier 1 larger IO miners who can afford to sell and still make money at anything above US$15 a ton probably less than the extra fuel /boat costs for shipping ore from Guinea.
DYOR + DYODD If you need cheap IO fast where's your Chinese boat gonna call?
SSSShisHHHH I want more.Australia exported just under 895...
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