Decline in slag cargo volumes due to COVID-19 and recovery assumptions
First written in FY2021-Q2. 1 of 2 entries say "Softened", first in FY2021-Q3. Latest entry: FY2021-Q3.
Tamai Steamship moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2023: 2 of 10 companies on the "Worse" side.
0 other companies' latest entry also says "Softened".
- FY2021-Q3SoftenedAnnual report
「However, based on signs of recovery in the economies of the importing countries and Japan, the Company has prepared a vessel deployment plan on the assumption that slag cargo volumes will gradually recover from the fourth quarter onward, and has prepared its earnings forecasts based on that plan.」
The assumed timing of recovery in slag cargo volumes has been changed from "from the third quarter onward" to "from the fourth quarter onward." The vessel deployment plan and earnings forecasts based on an assumed recovery remain in place, but the assumed timing has been pushed back. - FY2021-Q2First statedAnnual report
「However, current cargo volumes of slag, one of the Group's outbound cargoes, have fallen sharply on both the demand and supply sides. Economic activity in the importing countries has contracted substantially due to the impact of COVID-19, while domestic crude steel production has declined amid stagnating industrial production. Nevertheless, based on signs of recovery in the economies of the importing countries and Japan, the Company has prepared a vessel deployment plan on the assumption that slag cargo volumes will gradually recover from the third quarter onward, and has prepared its earnings forecasts based on that plan.」
COVID-19 has reduced economic activity and crude steel production in both the importing countries and Japan, and demand, supply and slag cargo volumes have actually declined. The Company has prepared its vessel deployment plan and earnings forecasts assuming that cargo volumes will recover from the third quarter onward, while stating that future uncertainty could cause actual results to differ from the forecasts.