The Transit Time on Colonial Pipeline, if you go from one end to the other (Houston to New York) is about 16 days.
Most of ship voyages in Asia are less than 10 days but apparently this is too much for Noble Group.
At an average of 10 days shipment and at with a cost of the goods sold(COGS) of $48.58B FY16, the average inventory in transit recorded by Noble would have to be at least $1.256B , problem is that the audited number is only $2.6M FY16.
FY2015 the average transit time of Noble was 3.5 days.
FY2016 The average transit time of Noble, is now 0,019 days. It either implies that Noble has used hyper sonic missiles or that the corporation has a COGS inflated by 10 to 15 times in 2016.
If Noble, has always self-proclaimed itself as a corporation of +1000 employees working on busy trade floors, even more doubt their revenues.
Yet, none of the evidences suggest that this operation possesses the normal footprint associated to one of the largest commodity trader.
They have gone from cargoes put in the speed boats with the Elmans… to the Mach 5 speed with captain William Randall.
Audited Financial Statements 31 December 2016
The Noble Files 贵族档案
The Noble Files 