Two down.....some more to go?
Latest news has Wellard announcing the sale of one, maybe two ships....the Swaggie and the Outback. So Mr Balzarini has sold his home, put his jet up for sale, is trying to sell other Australian pastoral assets...and now the ships are going. WOW.....things are looking bad. Of course, one wonders whether Wellard will actually have a market for these two ships that have had mechanical issues despite being fairly new (CHECK out VALE's Jan blog on the two ships.....for our predictive value.... and watch this space).
So....Elders has withdrawn from LE and Wellard is struggling. LE just aint looking so good financially these days. Dare we hope for more?
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