News

Sweden's Zieglar Group acquires two sawmills with a logging capacity of 700,000 m³

Posted on May 17, 2022 Source

  • The Swedish groups Profura AB and BAXAB AB signed the purchase agreement for the sawmill division Greenwood Sverige AB.
  • Ziegler Group takes over two sawmills Balungstrands, and Backebrons are located in the wooded areas of central Sweden. 
  • These 2 sawmills currently have an annual processing capacity of around 700,000 solid m³ of logs on more than 35 hectares of operating space.

Delegation feature now Live on Cargo X

Posted on May 17, 2022 Source

  • The delegation feature allows an exporter company (principal) the possibility to be represented by another (representative) company in the process of ACI filings through the CargoX Platform.
  • The representative can file ACI envelopes on behalf of the principal but not the other way around,
  • The representative can submit ACI filings to more than one principal and a principal can have more than one representative who files an ACI filing on their behalf.
  • In a delegation process, a company can either be a principal...

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Egypt plans to deal with the repercussions of the global economic crisis

Posted on May 16, 2022

  • The President, Abdel Fattah El-Sisi met today with the Ministerial Economic Group in the presence of Dr. Mostafa Madbouly, Prime Minister, Mr. Tarek Amer, Governor of the Central Bank, Dr. Hala Al-Saeed, Minister of Planning and Economic Development, Dr. Rania Al-Mashat, Minister of International Cooperation, Dr. Mohamed Maait, Minister of Finance, and Mr. Hisham Tawfiq Minister of Public Business Sector, Ms. Nevin Gamea, Minister of Trade and Industry, and Major General Mohamed Amin, Advisor to the President of the Republic...

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Arauco suspended 7 productive operations for illegally blocking its facilities

Posted on May 16, 2022 Source

  • The company had to suspend 7 productive activities, including a sawmill, due to the impossibility of its workers to regularly perform their shifts in the Bio Bio area of ​​Arauco
  • Some protesters in the rally of several contractors and worker companies in the South Macrozone illegally blocked access to the facility and alleged that it is not possible to ensure a normal supply of raw materials and essential supplies to carry out operations.
  • The productive units that had to suspend their operation...

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Lumber prices below $800 in 2022 as the highest mortgage rates in 13 years stoked housing demand

Posted on May 16, 2022 Source

  • In 2022, lumber prices fell by6% on Monday to $780 per thousand board feet, which is its lowest level.
  • Lumber prices are already down 30% year-to-date and fell by13% over the past week but this decline came as mortgage rates soar to 5.27% last week.
  • The rise in the mortgage rate is higher than the initial rate of 2022 levels (3.11%) and it's not been seen since 2009, which raised the cost of buying a home in the US considerably.
  • The quick rise...

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CMA CGM reveals the most extensive US container return incentive program to enhance supply chain fluidity

Posted on May 16, 2022 Source

  • CMA CGM’s new 60-day incentive program will put back 43,000 dry containers into circulation within four days of pickup, and provide clients $300 credit per dry clients container returned to eligible locations on calendar days one to four.
  • After that, a calculation of incentive credits will be carried out on a weekly basis with a credit memo issued every 14 days to each applicable importer.
  • The new program will incentivize credit for importers, improve equipment availability for exporters and expedite the flow...

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Russia's invasion of Ukraine disrupted New Zealand's timber export trade

Posted on May 16, 2022 Source

  • Russia is planning to expand its export of timber to non-sanctioning countries amid sanctions in which two of those non-sanctioning countries are China and Vietnam.
  • These two countries are currently important volume purchasers of New Zealand timber, and in 2018, 48% of New Zealand’s forestry exports went to China.
  • Since the invasion in March, Russia could divert exports of logs and timbers from Europe to China, New Zealand, and Europe is the two largest suppliers of softwood logs to China, while Russia...

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Wan Hai settles detention and demurrage (D&D) claim as FMC tightens its grip on carrier procedures

Posted on May 16, 2022 Source

  • Demurrage is the charge that the merchant pays for the use of the container within the terminal outside the free time period and detention is the charge that the merchant pays for the use of the container outside of the terminal or depot, beyond the free time period.
  • Containers are either owned or are leased by shipping lines that provide them to their customers (shippers or merchants) for the safe and fast door-to-door transport of their goods.
  • It is crucial for shipping...

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April saw an annual increase of 39.7% in Port of Mobile's container volumes

Posted on May 16, 2022 Source

  • The Alabama State Port Authority (ASPA) has released its April 2022 results for container volumes via the Port of Mobile, posting a 39.7% increase year-on-year.
  • The port’s container intermodal transfer facility recorded a 112.6% growth in April compared to April 2021 volumes handled, while refrigerated cargo saw a 57.9% year-on-year gain.
  • The port authority also obtained $67.3 million for intermodal and freight rail infrastructure improvements to promote the construction of an inland intermodal transfer facility (ICTF) at Montgomery.
  • In March 2022, the U.S....

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SC Ports saw a 34% increase in the container volumes in April

Posted on May 16, 2022 Source

  • South Carolina Ports (SC Ports) saw a 34% increase in container volumes which is the highest April level ever, marking the 14th consecutive month of cargo records at the Port of Charleston.
  • SC Ports handled 264,099 TEU at Wando Welch Terminal, North Charleston Terminal, and Leatherman Terminal in April, which is an increase of 17% from last year.
  • Thus far in the fiscal year 2022, the terminal operator has moved 2.4 million TEU, which is an increase of 15% fiscal year-over-year, and...

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