https://www.miningweekly.com
Business|Energy|Environment|Freight|Sustainable
Business|Energy|Environment|Freight|Sustainable
business|energy|environment|freight|sustainable

Commodities trader Noble posts interim loss

21st August 2020

By: Creamer Media Reporter

     

Font size: - +

The Covid-19 pandemic continues to impact on commodity markets, Hong Kong-based trader Noble Group said on Friday, reporting an after-tax loss of $331-million in the first six months of the year.

“Trading during the period was dominated by Covid-19, which continues to impact our markets and disrupt global supply chains across our business,” chairperson Jim Dubow said on Friday.

Group revenues were proportionally lower at $1.46-billion, owing to the depressed market conditions.

However, Noble had witnessed “some” recovery in the second quarter and its overall trading volumes in the first half increased by 36% year-on-year, driven by the energy segment with consistent volumes in the freight business.

Post restructuring in 2018, Noble had targeted long-term volumes of 75-million to 85-million tonnes and the company said it continued the progress towards this goal.

“The 2018 restructuring set the group on a firm footing for a new sustainable growth journey. Despite a challenging macroeconomic environment, positive strides have been made, creating a platform to drive further long-term improvement through 2020 and beyond,” Noble stated.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Latest Multimedia

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
Updated 7 hours ago

Latest News

Resources Watch
Resources Watch
17th April 2024

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.173 0.206s - 89pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: