Cotton & Western Mining Inc. (CWRN)

[grajekk]

I got snooping for freight rates this morning, and this is about the best I can come up with. This is part of a Sept 17 Bloomberg article:
"Daily hire rates for capesize-class ships that typically deliver iron ore, the main steelmaking ingredient, declined 18 percent this week, the biggest slump in nine weeks, according to the Baltic Exchange. Rents dropped 4.3 percent to $33,812 today, leading declines among the four vessel types tracked by the bourse.
Charter costs for smaller panamaxes that also haul coal and grains fell 1.9 percent to $23,525 a day today and supramaxes lost 0.8 percent to $21,041. Handysizes were little changed at $15,964 a day".

I wonder how long it takes to get to China. Even if it takes 20 days or so, it will only eat up about 4% of the revenue generated by the shipment at today's spot prices.. We are going to use the Panamax size ship, right?
I cannot see any way that CWRN is not going to make a killing this year!! If they can't net $7 million/shipload, I will be shocked, if ore prices even remain the same, much less go up as expected!