The British Columbia forest industry was deteriorating prior to the COVID-19 pandemic. Since mid-2019, B.C. has experienced a disproportionately high number of sawmill closures and curtailments compared with other states and provinces. If anything, the pandemic simply helped to accelerate the timeline. And now the B.C. government is looking for…
On Tuesday, July 28th, 2020, Weyerhaeuser Company announced the launching of a new sustainability strategy that draws out the companies aspiring commitments and goals for the next decade and beyond. The strategy is building on a solid foundation in environmental stewardship, social responsibility and strong governance. The new strategy demonstrates…
On 3 July this year the Ministry of the Environment (MMA) adopted the ‘Forest+ Program’ (Programa Floresta+) through an Administrative Ordinance n° 288/20. This ordinance aims to strengthen the preservation of the Brazilian natural forest. The initial project activities will be carried out in the Legal Amazon covering all nine…
Cascades’ Etobicoke Containerboard Packaging operations in Ontario, Canada will permanently close no later than August 31, 2021, and the property will be put up for sale. Over the coming weeks and months, Cascades will work to minimize the impact of this announcement on the 125 employees related to this facility….
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,…
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…
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…
The Directorate of Plant Protection, Quarantine and Storage (DPPQS) under the Ministry of Agriculture, Cooperation and Farmers Welfare (MOA) regulates the import of logs into India. Species that are listed under VI and VII of the Plant Quarantine (PQ) order 2003 may be imported into India provided the requirements in…
In January-June, the member companies of the Finnish Forest Industries Federation (FFIF) bought 13.6 million cubic meters of wood from private forests, which is 22 per cent less than the average of the previous five years. The purchase volume of pulpwood was 7.4 million cubic meters, or 20 per cent…
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%…
