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Not so simple! IF have paid €30m to FSG and they are unlikely to be able to recover much of that if they go elsewhere.Once bitten twice shy as they say , ICL won't want to see another chunk of money disappearing if they decide to go with FSG , hence they will be looking for bonded guarantees from the local government to protect their investment if the yard even gets back up and running . Failing that it's cut your losses, by by FSG and go elsewhere . ICL are in no hurry for a new build since the Covid crisis and there is no shortage of tonnage in the market at present or the future hence there will be some great chartering deals to be had rather than risking a bunch of cash on a new build .
ICL make fertiliser