Wood Markets News


Sawmill Insurance Coverage Getting More Difficult to Secure

Sawmill operators have always operated in a supply and demand market. Currently, however, they are dealing with another and somewhat unfamiliar supply and demand problem: the lack of insurance companies willing to write policies covering their property, as well as business interruption insurance.

Mortgage Applications Jump to Highest Level Since April 2021 During the Week Ending September 17, 2021

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending September 17, 2021, the Market Composite Index — a measure of mortgage loan application volume — increased 4.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 16% compared with the previous week.

Logie Timber Expansion to Create New Jobs While Cutting Its Carbon Footprint

Logie Timber, located in the town of Forres, Moray County, Scotland, is a full-cycle timber business. The company carries out milling and finishing and makes products including cladding, decking posts, and beams. Logie has embarked on a £1.2million expansion that will lead to the creation of four new jobs as well as increasing its turnover and cutting its carbon footprint.

Australian Government to Provide $15.1 Million Freight Subsidy to Transport Logs off of Kangaroo Island

The Australian government is set to provide a $15.1 million (A$) freight subsidy to companies transporting logs off of Kangaroo Island. The subsidy will aid in the movement of salvaged logs from bushfire-affected plantations on Kangaroo Island to sawmills, on the South Australian mainland, that currently have immediate capacity to process logs into structural timbers.