And just as proof of the absurdity gripping the markets and especially the media over Iron Ore.
The seaborne market to China is about 600mtpa, of which 10% is spot... which equates to 170kt per day... the average cape size vessel carries about 170kt of ore. A magnificent 1 trade per day. And we are doomed because, maybe 10 or so deals have been done under $120...
