- Cites unexpected circumstances.
- Expects CFR sales to decline to 1/3 of shipments.

Other headlines for [FMG.AU]

• FMG.AU 12/29/2008 11:43pm
  Fortescue Metals Largest holder, CEO Forrest's stake has been cut to 34.7% from 47% prior- Executive gave A$54M of shares to 'worthwhile and deserving recipients'.
  
• FMG.AU 12/23/2008 01:30am
  Fortescue Metals Commissions Second Ship Loading Berth at Port Hedland- Co. said the venture would increase the capacity of its infrastructure to 55M metric tons per annum. - The full operation to 55Mta is more...
  
• FMG.AU 12/21/2008 09:35pm
  Fortescue Metals Discloses that it used shares to pay a contractor in a move to preserve its cash reserves- The company adds that it may issue shares again.
  
• FMG.AU 12/18/2008 06:16pm
  Fortescue Metals Says it is entitled to suspend shipping contracts- Says some ship owners have disputed its legal right. - Business operation not affected by claims - Liability estimate not appropriate at this more...
  
• FMG.AU 12/17/2008 05:45am
  Fortescue Metals Update: Moody's affims B1 rating, revised outlook to negative from stable- Moody's cites reduced demand for steel and concerns over expansion plans.
  

Industrials sector headlines

• JBLU Today 02:07pm
  JetBlue Airways Corp Reports Dec Load Factor 79.4% v 76.8% y/y- RPMs -1.8% y/y - ASMs -5.1% y/y
  
• FR.FR Today 01:28pm
  Valeo SA Moody's lowers Long term rating cut to Ba1 fom Baa3; now junk status; affects €1.1B worth of debt
  
• NSANY Today 01:24pm
  Nissan Motor Co., Ltd Announces recall of 243K trucks and SUVs due to airbag sensor issues
  
• DAL Today 01:19pm
  Delta Air Lines Inc Reports Dec load factor 80.1% v 77.7% y/y- ASMs 9.78M (+0.7% y/y) - RPMs 12.2M (-2.4% y/y)
  
• CAE Today 01:12pm
  Cascade Corp. Shares downgraded to underperform from neutral rating at DA Davidson (timing uncertain)