Edition:
India

Napier Port Holdings Expects Slowdown In Log Exports From Levels Seen For FY To Date


Friday, 6 Mar 2020 

March 6 (Reuters) - Napier Port Holdings Ltd ::FOR FINANCIAL YEAR TO DATE TRADING HAS BEEN IN LINE WITH EXPECTATIONS.EXPECT SLOWDOWN IN LOG EXPORTS FROM LEVELS SEEN FOR FY TO DATE AND POSSIBLE IMPACTS ON OTHER CARGO TRADES.FY LOG EXPORT VOLUMES HAVE INCREASED BY 2.9% ON PRIOR YEAR COMPARABLE PERIOD.REPORTS ON TRADING CONDITIONS DISRUPTED BY COVID-19 VIRUS.LOG EXPORTS CONTINUE TO SAIL FROM NAPIER PORT BUT REDUCTIONS IN LOG HARVESTING, CURRENT LOG INVENTORY LEVELS ON CHINESE PORTS HIGH.CLOSELY MONITORING CHANGES TO TRADING PATTERNS, AS IT AFFECTS CO'S LOG EXPORT CUSTOMERS, KEY CHINESE DESTINATION MARKET.CONDITIONS REPRESENT MATERIALLY INCREASED RISK TO ACHIEVEMENT OF PREVIOUS EARNINGS FORECASTS. 

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