because the DD kings of this board know squat about iron ore and shipping. They make up whatever information they want and on the fly. If they tell a lie and repeat it thousands of times on this board, uninformed people will believe whatever they say.
Cotton paid per ton not per day as that is the norm.
30 per ton is actually low to go to China and Cotton paid the ship owner on a assignment of proceeds basis from his LC as per his PR.
Paying 20K a day will get you to China. What does the shipowner do after discharge? Come back empty on his own nickel? He would be losing money. OK, some will say thats his problem. OK, if that is the case, he will charge double or more and that is how you get the 1.15 million. Most iron ore shipments are done on per ton basis unless you are VALE, BHP or RT.
If you people think 400 or 500K is the cost of getting a ship to CHINA, then that will be the lowest price in the world for bulk shipping. Thats 10 per ton on a port to port basis. As a comparison, a much larger CAPE ship from Australia to China is about the same 10 dollars and a cape ship gets much lower rates than a handy. Which is the shorter trip? Think about it hard.
I repeated in several post that this shipment will be a million dollar+, but the DD kings told me I was a an idiot and everybody stuck to their 400K or less cost.
If the cost was 400 or 500K, then a bunch of exporters in Manzanillo will jump on this deal like white on rice. Last price from down south was in the mid to high 30's and their laydown and loading system is vastly superior to Ensenada... they can load a Panamax in 2-3 days.
Not everything is available on the internet. Just because microcaps1 wrote it down, does not mean its true.
