The world’s tallest timber tower has been pitched for Perth, tipping out tech giant Atlassian’s approved Sydney timber hybrid tower. Grange Development recently filed plans for a $350-million, 50-story timber-hybrid residential tower of 245 apartments. At almost 183 meters, the development would be the tallest timber building in the world.
News in international markets
Japan’s Mitsui and Nomura Enter Into an Agreement to Purchase Australia’s New Forests
On Friday, New Forests announced that Japan’s Mitsui and Nomura had entered into an agreement to purchase 100% of all the shares of New Forest. Mitsui and Nomura will provide capital to support New Forests’ strategic growth initiatives and the global expansion of its investment platform.
Allied Timbers Zimbabwe Preparing to Commission Its New $12 Million Sawmill Facility
Zimbabwe’s largest timber producer, Allied Timbers Zimbabwe (ATZ), is preparing to commission its new $12 million (USD) sawmill at the Cashel Estate, located in the eastern highlands. ATZ seeks to become self-sufficient in terms of its planting, harvesting, and sawmilling, which will in turn will boost the company’s revenue inflow.
Japanese Government to Offer Financial Aid to Companies Switching From Imported to Domestic Lumber
Following the Japanese’s governments ban of lumber imports from Russia, as part of Tokyo’s economic sanctions for Russia’s invasion of Ukraine, Japan’s Forestry Agency announced plans today (5-17-22) to offer financial aid to companies switching their lumber consumption from foreign to domestic sources.
Parkside Group’s Greenbushes Timber Mill Closes Earlier Than Anticipated
Parkside Group, a Queensland-based, sawmilling and timber manufacturing, announced on Wednesday, May 11, 2022, that it was ceasing operations at its Greenbushes timber mill located in Western Australia’s (WA) South West Region. The mill’s last day of operation was scheduled for just 2-days after the announcement was made.
New Zealand’s Timber Export Trade Potentially Disrupted by Russia’s Invasion of Ukraine
Amid sanctions, Russia is looking to expand its export of timber to non-sanctioning countries. Two of those non-sanctioning countries, China and Vietnam, are currently significant volume purchasers of New Zealand timber.
War in Ukraine Sending Shockwaves Through Australian Construction Sector
Australia’s construction sector was struggling with labor shortages, supply chain issues, and inflation prior Russia’s invasion of Ukraine. However, the military conflict is adding yet another layer of complexity and turbulence to building efforts in the country. Last year, Australia imported $80 million worth of wood products from Russia.
First Movement of Welsh Timber via Rail Since 2005 Successfully Completed
The last time a freight train carrying Welsh timber left Aberystwyth, Wales, heading through Newton and Welshpool, was 2005. That is until recently, as a trial was just conducted to see if regular freight traffic can return on the Cambrian line.
U.S. Wood Pellet Exports Increase Month-Over-Month and Year-Over-Year in March 2022
According to data released on Wednesday (5-4-22) by United States Department of Agriculture’s (USDA) Foreign Agricultural Service, the U.S. exported 801,396.9 metric tons of wood pellets in March, up from 628,659.8 metric tons of wood pellets in February. This is a year-over-year increase of 667,309 metric tons.
Slowing UK Housing and RM&I Markets Return Timber Imports to Pre-pandemic Levels
According to the latest Timber Development UK (TDUK) statistics, a slower UK housing and RM&I market in Q1 2022 is being reflected in the timber import volumes. TDUK data shows that while timber import volumes are nearly -20% below February 2021 levels, they remain modestly above pre-pandemic levels of February 2020.