News

Södra Wood reduced timber production by 60,000 m³ to balance production and the customer needs

Posted on Nov 30, 2021 Source

  • Södra Wood decided to temporarily cut down timber production by 60,000 m³  from December, due to high stock volumes and demand for wood products.
  • Stocks have grown in the building materials trade and sales of wood products have reached a better level than 2019, but slightly lower than in 2020 due to which building materials trade will have to lower the wood products demand for a few months to balance the stocks.

Saudi's Real Estate Development Fund provided SR32 billion ($8 billion) for citizens to buy homes

Posted on Nov 26, 2021 Source

  • Saudi's Real Estate Development Fund transferred SR788 million ($210 million) into the accounts of Saudi families in November, taking the total so far to SR32 billion ($8 billion) so they can buy their own homes.
  • Sakani program aims to increase Saudi homeownership to 70% by the decade's end.

Abu Dhabi (AD) Ports will invest in Turkish Ports

Posted on Nov 26, 2021 Source

  • AD Ports Group signed a partnership agreement with Turkey Wealth Fund to foster investment opportunities in Turkish ports.
  •  The partners will cooperate to get big investment opportunities for port development and operations and logistics.
  • They will also build a common steering committee to assess all investment opportunities and encourage trade relations between the 2 countries.

Interfor Corporation to acquire EACOM Timber Corporation

Posted on Nov 26, 2021 Source

  • Interfor Corporation reached an agreement with an affiliate of Kelso & Company to obtain 100% of the assets and interests of EACOM Timber Corporation.
  • The agreement demands the spending of $490 million on a cash and debt-free basis which includes $120 million of net working capital.
  • The transaction includes 7 sawmills with a combined annual spruce-pine-fir lumber production capacity of 985 million board feet, an I-Joist plant with an annual production capacity of 70 million linear feet, a value-added remanufacturing plant with...

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DP World Sydney handled 1 million containers in November

Posted on Nov 26, 2021 Source

  • DP World Sydney registered over 345 vessels with 1,793 units exchanged on average and break the TEU record.
  • The terminal's yearlong productivity increased by 10% and yearlong volumes by 15%.
  • The terminal’s operator signed a deal with OASIS Group to establish a new distribution hub at London Gateway.

Canadian Pacific Railway will reopen its rail lines

Posted on Nov 26, 2021 Source

  • The Canadian Pacific Railway will open its rail line from Kamploos to Vancouver to clear the blockage done by the floods and mudslides.
  • The rail lines between Vancouver to Kamploos were closed since November 15 
  • The backlog of vessels is at the Port of Vancouver, with 43 ships waiting to dock containing 17 grain, 12 coal, and 6 container ships.

US doubles Canadian softwood lumber shipment duties and issued final determination rates

Posted on Nov 26, 2021 Source

  • The US Commerce Department will raise duties on shipments of Candian softwood lumber in the US from 9% to 17.9%.
  • U.S. Department of Commerce issued a final determination of countervailing and antidumping duty rates of softwood lumber imports from Canada.
  • The rates will be implemented once published in the federal register which will occur on November 30, 2021.
  • The rates are:

                                             ...

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Social Housing Fund to build 23,000 green housing units by the end of 2023 in Egypt

Posted on Nov 26, 2021 Source

  • The Social Housing Mortgage Finance Fund plans to build 23,000 green housing units in 5 cities of Egypt.
  • The 5 cities are New Aswan, New Minya, Hadayek October, New Sohag, and Capital Gardens.
  • The housing units will also contain small solar power panels to lower electricity usage.

Government introduced the BC Forest Amendment Act of 2021 to build an inclusive forest sector for the people

Posted on Nov 26, 2021 Source

  • The act will ensure local communities, First Nations, and smaller companies have more opportunities in the forest sector, build a fair framework for compensation regarding changes to harvesting rights. 
  • The act also supports the government’s vision where workers and communities benefit from secure, innovative forestry jobs.

Canada saw an 8.6% growth in home sales in September and October 2021

Posted on Nov 26, 2021 Source

  • Sales were up month over month in about three-quarters of all local markets and in all major cities. 
  • Annually, 581,275 residential properties were sold support through the Canadian MLS System from January to October 2021 which exceeded the annual record of 552,423 sales of 2020.

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