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Friday, March 11, 2011 6:25:14 AM
Handymax ships have their own self sufficient loading equipment because they often visit smaller ports that don't have loading equipment.
But I don't know if the water depth next to the iron storage(that area is not really designed for direct ship loading) would be sufficient for that-Handymax average 33' draft.
The port loading areas have been dredged to minimum 14.5 meters and navigation area 16 meters,thanks partly to our friend pesquero,whose company as I understand it was involved in the dredging -so he would be the expert on that.
The Ioannis speculated on is 12.8 meters(42 foot draft)-a new faster ship (15 knots)probably built w post Panama canal deepening in mind(because present max allowable Panama canal is 12.04 meters)-possible substitute for the stuck in Texas at last report Azuma,as well as speculation re other possible ships-all in the large Handymax to small Panamax size of 40k to 60k tons load.
There is so much ore at the port already-estimated anywhere from 120k tons to over 300k tons- they could load Panamax(60-80k but often ca 75k and average 39' draft)which is cheaper shipping/ton.
If we are really lucky they could get 1st 2 ships in this month to better show revenues for the expected mid April financials.
Much of the delay in shipping was apparently due to unexpected protracted negotiations,including dealing with the changing fuel cost.
Don't forget the large South central Baja mine for which CWRN will be the operational partner. Has anybody begun researching that? The board has largely ignored that mine mentioned in the 2-28 PR.
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