Cao Mo, together with Shen Ji, Abacha, the Felician family, the Blake family, the Brahm family, and the Oppenheimer family, injected a total of 35 million US dollars, took away 97% of the shares of the shipping company at once, and only retained 3% of the personal shares and the position of chief executive for Garon Targaryen, but at the same time, he also took on a series of problems such as the debts of the Gulf of Guinea shipping company in an all-inclusive way.

By directly integrating the shipping operations of the Conero cement plant, the Gulf of Guinea Shipping Company has $30 million in capital, in addition to eight ore carriers under 5,000 tons and five special cement carriers of 3,000 tons.

Of course, in addition to this, the Gulf of Guinea shipping company has a debt of almost six million dollars on its books.

Cao Mo has been in contact with Gallon Targaryen several times, whether it is intuitive feelings, or the Rupert family, who have had deep contact with the Gulf of Guinea shipping company, and their feelings for Gallon himself are quite good.

Garon Targarion, who worked in the shipping company of Akwa as a young man, was soon promoted to captain, and when the Saviyi authorities came to power, he moved to Kanem with his children and founded the Gulf of Guinea Shipping Company.

In his early forties, he is energetic, strong in business ability and enterprising.

The fact that the Gulf of Guinea shipping company is now struggling to maintain normal operations and defaulting on huge debts has little to do with the strength of Galleon's personal management ability, but mainly has a direct relationship with the fact that Kanem Financial is controlled by Western conglomerates.

Gallon Targaryen initially founded the Gulf of Guinea Shipping Company with money borrowed from the Draculamo Bank, which was controlled by a Western consortium behind the scenes, and the loan agreement with the Draculamo Bank, in addition to the extremely high interest rate, had a crucial clause that could not be revoked early.

In the first few years, the operating efficiency of the Gulf of Guinea shipping company was very good, but the loan agreement could not be withdrawn in advance, and the accumulated capital was mainly used for the expansion of the fleet, but there was no opportunity to improve the financing structure and reduce the debt level to a reasonable level.

In recent years, with the intensification of market competition, the high interest that needs to be repaid every year has directly eaten up the increasingly thin profits, and the Gulf of Guinea shipping company has no ability to adjust its business structure.

Even most of Kanem's domestic enterprises cannot escape such a fate.

As long as they borrow money from financial institutions controlled by Western conglomerates, in addition to paying high interest rates every year, they are also restricted by irrevocable clauses, and they are unable to improve their debt structure when their business conditions are good, and once they encounter a major business crisis, the scale of their debts will snowball, and they will completely become a profit-making tool for financial institutions, and even lose their control.

Among them, Dracula Power Group is the most typical.

The price of electricity supply in Draculamo and the surrounding areas is unusually high, but the Draculamo Power Group has accumulated billions of dollars of debts to Western consortia over the years, and almost half of its operating income has to be used to repay the high interest generated by these debts, so it is unable to expand the scale of power generation on a large scale and upgrade the power grid.

Cao Mo is now taking over the Gulf of Guinea shipping company, and the accumulated debt of six million US dollars owed to Draculamo Bank is also unable to be paid off early, and it needs to bear millions of dollars in interest expenses every year.

On the bright side, the Gulf of Guinea shipping company mainly borrows

The payment will be due in two years, and you will not need to incur additional costs for it, so you can travel lightly.

At this time, even if the shipping company does not consider profiting from the imminent storm in Akwa, it is only for the development of the Gulf of Guinea shipping company itself, and the acquisition of the 30,000-ton ore ship from Xie Sipeng is also extremely necessary to improve and enhance the business structure and profitability.

Xu Sheng didn't know the specific details, he was personally not very willing to sell the ore ship that he had high hopes for, but Xie Sipeng had the absolute right to speak in this matter, and there were no twists and turns in the matter, and the two sides soon signed a formal agreement, and in accordance with Cao Mo's request, the ore ship was directly handed over in Peimei Port.

Of course, the handover of the ore ship is only the first step of the whole wait-and-see plan, and then Cao Mo also wants the Gulf of Guinea Shipping Company to directly register a branch in Akwa to negotiate the trade and transportation of coal.

Adjacent to the gold producing area of Ouma, the Mangba area is a famous iron coal producing area in Akwa, limited by the economic development level of Akwa, the Mangba area has large reserves of high quality iron coal, but the mining capacity is low, the annual iron ore plant mining scale is only about 2.5 million tons, and the high-quality coal mining scale is even less than 5 million tons.

Akwa does not have a steel plant or thermal power plant to consume the coal and iron, and the mine is connected to the port of Pemei by rail, and the coal and iron produced are mainly used for export and in exchange for valuable foreign exchange earnings for Akwa.

In addition to Draculamo Power Group, the calcination process at the Conero cement plant naturally requires high-quality coal from Akwa.

The local coal resources are extremely abundant, but the industrial and transportation base of the whole West Africa is weak, and the cost of transporting coal from the mining area to the cement plant, converted into each ton of finished cement, is as high as more than 20 US dollars, which is nearly twice as high as in China, and the Conero cement plant needs to consume more than 200,000 tons of high-quality coal every year at its current capacity.

In the face of the current weakening market price of finished cement in Draculamo and the surrounding areas, Cao Mo also wants to maintain the current profit margin, in addition to continuously strengthening the production management of the cement plant, it is also necessary to improve the supply of various raw materials directly from the source.

Coal supply, which plays an important part of various costs, was already in Cao Mo's overall vision.

If we can now establish a direct coal supply chain between the port of Pemei and the Conero cement plant, the cost of each ton of finished cement produced by the Conero cement plant in the future can be reduced by about five or six dollars, which is still very significant at the current annual production capacity.

After the completion of the large-scale berths supporting the Conero cement plant, the cost of coal transportation can be further reduced, and the profit margin per ton of finished cement can continue to be expanded.

Of course, there are no large ore ships in hand, and even if we do not consider crossing a distance of more than 20,000 kilometers to transport Akwa's iron ore back to China, West Africa is not without a little steel production capacity to digest Akwa's high-quality iron ore.

Cataló, the capital of the Oyo state, is home to Kanem's second-largest steel plant with an annual capacity of 300,000 tons of crude steel, located on the banks of the middle reaches of the Ogun River.

The Catelo Iron Works was built to finance the military junta after Kanem ended his colonial rule.

Kanem's military junta at the time wanted to build and develop a large steel production base in Catelo based on the upstream Boso iron ore mine.

On the one hand, due to limited funds, after the completion of the first phase of the Catro Iron and Steel Plant, it is unable to carry out subsequent construction;

The dedicated railway line connecting the steel mills is still on the blueprints, and the iron ore mined is transported by poor and expensive road to the furnaces of the steel mills.

In China, the cost of road transport is already quite high, and the combination of fuel, personnel salaries, vehicle wear and tear, and various toll fees is about three or four times that of railways.

In Kanem, due to the worrying road traffic and public security situation, the high wear and tear of vehicles, the need for additional armed security, the limited load, the slow speed, and the low transportation efficiency, the cost of road transportation in Kanem is even higher than that of China.

On the other hand, the grade of Boso iron ore is slightly worse, only about 30 percent, compared with the grade of Mangba iron ore as high as 60 percent, and the refining cost is high.

In addition, due to poor management, backward technology and imperfect industrial support, the operating efficiency of the Catro Iron and Steel Plant is very poor.

If Akwa's high-quality iron and coal resources can be supplied directly to the Catelo steel plant, its current operating conditions can be slightly improved.

However, the links involved behind this are more complicated.

The beneficiation, refining and smelting equipment of the Catelo Iron and Steel Plant was originally designed for the iron ore mined in the Boso mining area, and a certain amount of technical transformation was required to make full use of the superior properties of the Mangba iron ore.

The lack of a large coal and iron wharf in the middle reaches of the Ogun River makes it difficult to transport iron ore from Akwa on a large scale and at low cost.

Another important reason is that, like most Kanem companies, the poorly run Catelo Steel Plant is also riddled with debt, and behind the many complex debts of the Catro Steel Plant, there are also Western conglomerates, making the composition of its management very complicated.

Of course, when the conditions are fully ripe for any business, there is no telling how many competitors will emerge.

Even if there is a lack of large coal and iron wharves in the middle reaches of the Ogun River, the cost of transporting iron ore by small ore ships of 3,500 tons is only more than 400 kilometers before and after, and the cost is still much lower than the cost of supplying iron ore to the Catelo Iron and Steel Works by road from the Boso mining area.

Before the situation in Akwa stabilized, Cao Mo could not have rushed to invest tens of millions of dollars in the construction of a coal and iron terminal near the Catro Iron and Steel Plant, but after Oyo Governor Blake came forward to greet him, and Abacha personally lobbied the relevant high-level officials, the Catro Iron and Steel Plant soon agreed to accept a part of the Mangba iron ore on a small scale, try to mix it with the Boso iron ore in the refining process, and then smelt it in the furnace.

Cao Mo has laid a certain foundation in Oyo State, and has formed an alliance with the Oppenheimer family and the Rupert family, whether it is coal or iron, they are in the coastal area southwest of Kanem, it is not difficult to open up the downstream demand market, and the focus is also on the upstream supply, which is also the focus of his entire "wait-and-see plan".

Even if Cao Mo does not want to see the situation in Akwa violently turbulent, even if Brahm and Garon succeed in getting involved with Juan Mantar and others, who leads the Front for Democracy in Akwa, it is impossible for him to directly expose Uffobonia's plot until the situation is clear, and until he finds out whether there are other accomplices or extremely powerful supporters behind Lop Bonia.

At the same time, fearing that the top echelons of the FDD were not politically mature enough to be discouraged by the secrets, Cao Mo did not even make Brahm and Garon Tangrien rush to inform Juan Mantar and others of the relevant information.