Results from live exports to the Middle East continue to improve after the Al Messilah arrived in the Persian Gulf recently with a 99.86 per cent success rate for sheep and a 100pc delivery rate for cattle.

Wellard has sold another vessel and will lease it back under a deal with one of its key shareholders.

Livestock exporter, Wellard, faces 21pc interest rates on noteholder funds, plus $1.4m in monthly redemption payments