Global timber industry impacted by transportation disruptions

The Red Sea conflict is affecting global economic stability and shipping, thereby impacting the timber industry. Timber businesses from Brazil, China, Indonesia, and Malaysia report increased transportation costs, reduced shipment volumes, and slower transport speeds. Not only are order volumes decreasing and transportation issues mentioned in the report, but the production in timber-producing countries is also shrinking in the last two years, particularly in 2023, with a noticeable decline in global production, mainly in Europe, North America, and Africa. Intermittent operations in sector timber mills lead to increased equipment costs, but timber export prices fail to offset this ...