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
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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