Sappi braces for shipping price hikes
Transport costs have risen as vessels increasingly sail around the Cape to avoid attacks en route to the Suez Canal
07 February 2024 - 10:29
UPDATED 07 February 2024 - 19:28
Diversified wood fibre manufacturer Sappi says disruptions to shipping routes as a result of conflict in the Middle East is likely to increase logistics costs for the business.
The outlook is set to pile further pressure on the R24.9bn JSE-listed paper and pulp group, which on Wednesday reported a loss for the three months to the end of December as sales volumes across its products came under pressure — a situation worsened by scheduled maintenance shutdowns at some of its mills...
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