Global timber trade continues to be disrupted by the Red Sea Crisis

The ongoing Red Sea Crisis continues to severely disrupt global timber supply chains. Traders are struggling with escalating container costs and increased pressure on the global port system, leading to significant congestion in the Middle East, Asia, and Africa. Yesterday, James Latham, a major timber merchant in the UK, reported that the crisis—forcing the world’s largest shipping companies to reroute $200 billion worth of trade around the Cape of Good Hope—resulted in a 30% drop in profits for the 12 months ending March 31. In a statement to the London Stock Exchange, James Latham mentioned ...