West African tropical wood exports driven down by pandemic

The rapid spread of the coronavirus has adversely affected West Africa’s export markets, imports, foreign investment, tourism and remittances. Furthermore, the disruption in commodity markets, travel and tourism and country-level lockdowns have slowed economic activity. The impact of pandemic control measures has hit West African timber producers across the region,…

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Container freight costs rise

The early July Drewry composite World Container Index fell slightly after reaching a 5-year high of US$2,023 per 40ft container. This, say analysts, reflected that container ship capacity is still an issue. The ocean shipping prices Shanghai to Los Angeles and Shanghai to New York recently jumped around 20% to…

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SCA plans to increase harvesting level

SCA has confirmed a new harvesting plan which shows that the harvesting level in the own forest will increase over the coming five years by an additional one million cubic meters per year more than the current level. The increased harvesting level gives an increased cash flow of SEK 300-400 million…

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UFPI announces record earnings for Q2/2020

UFP Industries, Inc. (UFPI) announced record net earnings of $66.5 million for the 2Q 2020, as well as record EPS of $1.08 per diluted share, a 23% increase over the same period of 2019. 2Q 2020 net sales were $1.24 billion; higher lumber prices contributed 3% in net sales which was substantially offset by a 3%…

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