Norra Skog has announced it is investing SEK 57 million in the construction of a timber terminal to be built on a former sawmill site in Östavall, Sweden. The goal is to have Östavall operational sometime in the second half of 2024.
Wood Markets News
Arauco Warns Wildfires in Chile Could Cost the Company $50 Million in Revenue
On Wednesday, Arauco, the Chilean pulp and wood panel marker, said it is estimating that it could experience as much as a $50 million hit to its bottom line due to fires raging in the country’s south, according to a report by Reuters. Arauco is the forestry arm of the industrial group Empresas Copec.
Second Annual Softwood Lumber Board/US Forest Service Mass Timber Competition Open for Proposals
The Softwood Lumber Board and the US Department of Agriculture Forest Service Department jointly announced on Wednesday that the Forest Service’s second annual “Mass Timber Competition: Building to Net-Zero Carbon” is now open for proposals from eligible teams.
Resolute Forest Products to Temporarily Suspend Operations at Its Saint-Thomas-Didyme, Quebec, Facility
As reported in Le Nouvelles Hebdo, Resolute Forest Products Inc. announced Monday that it has temporarily suspended operations at its Saint-Thomas-Didyme, Quebec, facility until June 11th due to a lack of fiber.
Two Unions Representing 3,000 Canadian National Railway Workers Vote in Favor of a Strike
Two unions currently engaged in contract talks with the Canadian National Railway have voted in favor of strike action, according to reporting by CityNews Calgary. Members of Unifor Local 100 and Unifor Council 4000 voted favorably after contract talks with the railway broke down in February.
US Home Prices Decline Year-Over-Year for the First Time Since February 2012
Redfin is reporting that US home-sale prices have declined year-over-year for the first time in more than a decade. The typical house sold for $350,246 during the four weeks ending February 26th, down 0.6% from a year ago, marking the first time prices have declined since 2012.
BC Timber Company’s Dilemma: Harvest Old-Growth Trees or Pay Fees to Leave Them Standing
Harvest old-growth trees or a pay a fee to leave them standing? This is the dilemma that BC’s Downie Timber Company is currently facing, according to The Canadian Press. Downie is trying to avoid logging a section of at-risk old growth forest identified by the provincial government.
South Africa’s Stevens Lumber Mills Announces 90-Day Temporary Layoff Due to Resource Constraints
One of South Africa’s long-established sawmills, Stevens Lumber Mills, has announced a 90-day temporary layoff period due to increasing power outages (load shedding) and the tight supply of logs, according to reporting by Moneyweb. SML is located in Limpopo, the northmost province in South Africa.
BC Government Extends Old-Growth Logging Deferrals in Endangered Spotted Owl Habitat
The British Columbia provincial government announced Friday that it is taking another important step to support the recovery of endangered spotted owls while promoting biodiversity and accelerating the protection of old-growth forests.
Total Value of Canadian Building Permits Declined in January
Statistics Canada reported on Friday that the total monthly value of building permits in Canada declined 4.0% in January to $9.8 billion (CAD). On a constant dollar (2012=100) the total value of building permits dropped 3.2% to $5.8 billion.