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Hong Kong’s Hang Seng Index Jumps 20% From January Low, Heads for Bull Market
Categories: Forest Products Industry
Redstones, Ellison offer concessions to Paramount investors, Bloomberg News reports
Categories: Forest Products Industry
Resolutely resolving a dispute with Greenpeace
Resolute and Greenpeace have announced that they have resolved two long running disputes. The Greenpeace parties which were Greenpeace, Greenpeace Fund and Greenpeace International confirmed that they had no knowledge of illegal operations in off-limit areas by Resolute. Source: Timberbiz All parties are pleased that they have turned the page on these long-running litigations. The Greenpeace parties stated that their criticism was always directed at Resolute’s legal operations in certain forests that Greenpeace believes require more protection. Resolute said that it is committed to the sustainability of the boreal forest and prosperity of its communities. Resolute and Greenpeace agree everyone should be part of this discussion and to raise concerns with each other in an attempt to resolve factual disagreements.
Categories: Forest Products Industry
Notre-Dame’s roof in place in solid oak
Now that the rebuilding of the entire roof structure of Notre-Dame de Paris cathedral in solid oak has been completed, the FCBA Institute of Technology, along with PEFC France, has officially awarded PEFC project certification to public establishment Rebâtir Notre-Dame de Paris, the contracting authority for the restoration project. Source: Timberbiz This certification confirms the sustainable origin of the solid oak wood materials used, and the responsible nature of the work carried out by the contracting authority, chief architects of historic monuments and project managers. The medieval frames of the nave and choir, built in the 13th century, and those of the Viollet-le-Duc spire and both arms of the transept, dating from the 19th century, were destroyed in the fire on April 15, 2019. They were restored identically, using the same techniques and materials as the original, solid oak. By rebuilding Notre-Dame de Paris’ roof structure in wood, part of which the great roof is also known as “the forest”, the shared history of the cathedral and French forests will continue to be written for centuries to come. In a show of solidarity, the entire French forestry and timber industry mobilized to supply the wood needed to meet the specifications of this exceptional project. Actors from state-owned forests, community forests, forestry cooperatives, forestry experts, private owners and processing companies were all involved in ensuring that each stage of the reconstruction of the frameworks was carried out using a sustainable forest management approach, maintaining the balance between the economic, social and environmental dimensions of the forest. This systemic approach enables the renewal of the forests from which the timber was sourced, thereby maintaining their multifunctionality, while preserving diversity, vitality, productivity, and regeneration capacity. Project certification, developed by PEFC, certifies that at least 70% of the total volume of wood used is PEFC-certified, ensuring that PEFC’s forest certification requirements, which define and control a set of forest management rules applicable to all forest stakeholders (forest owners, forest managers, forest operators, forestry contractors), have been implemented. Additionally, the implementation of PEFC chain of custody in project certification certifies that all parties involved in a construction or renovation project, whether certified companies or subcontractors, have applied the control principles defined by PEFC, making it possible to track the flow of certified wood at every stage of the supply chain. Today, thanks to the 35 PEFC-certified sawmills involved in the project, the majority of which are PEFC-certified, 175 PEFC-certified forests, and the use of over 80% PEFC-certified logs, the entire framework of Notre-Dame de Paris cathedral benefits from PEFC project certification. The implementation of PEFC’s rules for sustainable forest management on the one hand, and chain of custody on the other, means that PEFC certification can now be awarded for the entire Notre-Dame de Paris timber reconstruction project, a testament to stakeholder commitment to sustainable forest management and an environmentally, socially and economically responsible timber construction site. “I would like to thank PEFC France and the FCBA Institute of Technology for this certification. It recognizes the remarkable commitment and strong support of all the players in the forestry and timber industry: the ONF, France Bois Forêt and its members, the mayors of forest communities, private owners and their representatives, and sawmillers all over France, who donated trees and processed the timber. I extend my warmest thanks to them, as well as to the hewers, squarers and carpenters who have placed their expertise at the service of the cathedral’s rebirth, as part of an exemplary restoration project”, commented Philippe Jost, President of Rebâtir Notre-Dame de Paris. Christine de Neuville, President of PEFC France, added “awarding this certification today recognizes the commitment of not only the client, Rebâtir Notre-Dame de Paris, but also of the entire forestry and timber industry to the long-term survival of the French forest. This unprecedented industry mobilization to restore a symbol of French heritage is a perfect illustration of the vision and determination that PEFC has been pursuing for 25 years now: to bring together and offer all forestry stakeholders solutions to meet the common challenges that lie ahead: the changing environmental, economic and societal challenges facing forests in France in the face of global warming, and thus preserve the French forest”.
Categories: Forest Products Industry
Japan sees an online market for trading trees
Japanese forestry and lumber industry groups are setting their sights on an initiative to establish an online market for trading trees before they are cut down. Source: The Japan Times With human-made forests in Japan, which constitute about 40% of the nation’s forested areas, entering full-scale harvest seasons, the process of “reforestation,” or planting new saplings after tree felling, has faced obstacles, primarily stemming from the considerable burdens placed on forest owners. The objective of the proposed market is to establish prices that account for reforestation expenses, thereby giving individuals greater incentive to be involved in forestry management and promoting the utilization of domestic lumber. “This tree is a century old,” Kenichi Sato, 69, of Hitachiota, Ibaraki Prefecture, said, looking up at a towering cedar, while giving a media tour of his 1.56-square-kilometer forest. Sato inherited the family’s forestry business following his father’s death. “There were times when I couldn’t afford to harvest trees extensively while I was preoccupied with earning (immediate) income,” he recalled. “Tree growth requires long-term patience. With each generation, there’s a growing indifference toward the forestry business, leading many to exit the industry.” The persistent decline in domestic log prices is attributed to stiff competition from imported lumber, which is abundant and available at lower prices. Typically, the prices of trees are determined after logging and transportation expenses are factored in. Consequently, forest owners often receive insufficient revenue to cover reforestation costs, leading many to leave their forests untouched after logging. To tackle the challenge, a council promoting initiatives to safeguard Japanese forests by utilizing domestic lumber and the Japan Forestry Mechanization Society have jointly proposed the establishment of a new online market. The council, a general incorporated association, was established by six industry groups. The aim of the proposal is to implement a system where forest owners can set desired prices for their trees, provided that they commit to reforestation efforts after logging. Nobutaka Hasumi, 52, also of Hitachiota, is optimistic about the potential of the new market. “Knowing the value of our trees could encourage us to offer them for sale,” said Hasumi, who oversees a forest spanning 960,000 square meters. Data from the Forestry Agency reveal, however, that approximately 90% of forest owners in Japan have plots smaller than 100,000 square meters. Many owners say they are contemplating relinquishing their forests due to their old age and issues over inheritance, according to agency officials. “It’s important to find ways to engage small-scale owners” in the proposed market, Hasumi said. In a report released by industry groups in January, lumber distributors and other potential buyers expressed favorable views regarding the proposed creation of the new market. One said, “Ensuring the sustainability of forest resources is a social responsibility,” while another said, “We hope for transparent pricing mechanisms.” Conversely, there were critical perspectives regarding the inclusion of reforestation costs in prices, with one official noting, “Users are unlikely to accept high prices without objection.” The industry groups plan to conduct demonstration tests at four or five locations sometime during the current fiscal year to March 2025, aiming to establish a nationwide market within the next few years. During the period, they will hold discussions to finalize operational details, such as the functioning of the market system and criteria for buyer participation. Satoshi Tachibana, a professor at Kyoto University who chaired a study group focused on the new market, said, “There’s a widespread acknowledgment that the forestry industry needs restructuring, and there’s increasing interest among companies in utilizing domestic lumber.” Highlighting the significance of industry collaboration with local governments, Tachibana said, “I think a pioneering deal could create momentum for nationwide expansion of the proposed market.”
Categories: Forest Products Industry
FSC fashion roundtable sessions
Explore of the intersection of fashion and sustainability in an era where environmental consciousness is paramount, the fashion industry stands at a pivotal moment of transformation. Source: Timberbiz FSC Australia and New Zealand is delighted to announce an event to offer a deep dive into how sourcing FSC-certified forest-based fibres for garments and textiles can support positive environmental, social and economic outcomes, and provide consumers with the responsible choices they seek. Insights include: The Vital Connection between Fashion and Forests Deep Dive: Successful Case Studies Interactive Session: Exploring opportunities for your organisation to support forest-friendly fashion FSC 101: The Meaning Behind the Label Circularity: Transitioning from Fossil-based to bio-based materials. A Call to Action: Overview of the Fashion Forever Green Pact and the Benefits of Becoming a Signatory The sessions will be held in Melbourne on 21 May from 9am to 4pm at the Treetops Room at the Melbourne Museum, in Sydney on 5 June at Doltone House Tribute Museum Jones Bay Wharf and in Auckland on 25 June at GridAKL, Wynyard. In Melbourne speakers will be: Step One: Greg Taylor, CEO and Founder Australian Sustainable Timbers: James Felton-Taylor, CEO and Owner Australian Fashion Council: Jaana Quaintance-James, CEO Hallmark Cards Australia and New Zealand: Lyndal Matthews, Product & Marketing Director SCS Global Services Regional Affiliate, Oceania: Nick Cappabianco, Director of Green Marketing Concepts In Sydney, speakers will be: Step One: Greg Taylor, CEO and Founder Australian Sustainable Timbers: James Felton-Taylor, CEO and Owner Australian Fashion Council: Jaana Quaintance-James, CEO Winc: Linda Reid, Head of Marketing & Communications Global Mark: Emily Silberberg, Program Manager In Auckland speakers will be: Step One: Greg Taylor, CEO and Founder Timberlands Pty Ltd: Colin Maunder, General Manager – Sustainability Fashion Council: Jaana Quaintance-James, CEO SAI Global: Brad Yow, Senior Business Development and Channel Manager, Business Assurance To register for these events, contact FSC Australia and New Zealand at info@au.fsc.org
Categories: Forest Products Industry
WoodSolutions Sydney Opera House webinar
The world-heritage listed Sydney Opera House, designed more than 60 years ago and arguably the most well-known and iconic building in Australia, has recently enjoyed a major renewal which has won a host of awards, including the 2023 Australian Timber Design Award. Source: Timberbiz Director of ARM Architecture, Andrew Hayne, will discuss the amazing acoustic and architectural transformation, accomplished through a marriage of innovative digital design, offsite manufacturing, and creative acoustic engineering. A key feature of the renewal was the inclusion of a series of stunning, sculptured solid carved Brushbox panels, which serve as aesthetic enhancements and acoustic heroes, breaking up and diffusing sound waves to eliminate problematic refections and creating a rich, enveloping auditory experience. Learn all about this absolutely fascinating design and construction journey which spanned over seven years, from project inception through to the gala reopening at the WoodSolutions webinar on 7 May at 11am, online and there is no cost. For more information here.
Categories: Forest Products Industry
An effective solution for giant pine scale is closer
Research in Australia and Europe is moving closer to identifying an effective solution to the damage to forests caused by giant pine scale (GPS). The research project aims to boost our understanding of the effectiveness of the various available biological control strategies. Source: Timberbiz GPS poses a particular threat to Pinus radiata, a species that makes up 75% of Australia’s $1.16 billion softwood plantation estate but also infests other softwood conifers such as spruce, cedar and fir. GPS is native to Greece and Turkey and was first detected in Australia in 2014. Following its initial establishment in urban and peri-urban Melbourne, it has been determined to be non-eradicable. Greg Lefoe of Agriculture Victoria Research (AVR), which is leading the project, said GPS poses a major economic threat to the softwood timber industry. “GPS is difficult and costly to control with insecticides, therefore biological control is considered a priority,” Mr Lefoe said. “Successful biological control programs have a high return on investment for government and industry because, once established, biocontrol agents will continue to control the pest year on year.” Biological control is also considered to be an environmentally friendly approach to pest mitigation. AVR is conducting the research with the support of local industry partners including FWPA and various forest growers, as well as researchers in Greece, Switzerland and New Zealand. The project has already identified the predator Neoleucopis kartliana as the most promising biocontrol agent in the pest’s native Greece. Subsequent native range and molecular studies conducted by the research team found that N.kartliana is actually made up of three predatory species, two of which were previously undescribed. One of these species, designated Neoleucopis sp. B, was subjected to preliminary testing against native Australian scale insects. The results to date show the new species to be highly prey-specific, and therefore likely to be suitable for introduction into Australia. Based on these results, an application for the release of Neoleucopis sp. B is being prepared by the team. Further research is needed to determine its suitability for long-term, sustainable management of GPS in Australia. “Neoleucopis sp. B has proven its potential as an important GPS predator, and we have found no evidence of off-target attacks that might pose a threat to other insect species,” Lefoe said. The team has worked to demonstrate this proposed biocontrol agent will not threaten Australian agriculture or biodiversity. A main area of focus has been on exposing Neoleucopis sp. B to a range of native scale insects through lab experiments. “A major challenge of this research project has been the limited knowledge of Australian native scale insects that could be at risk from an introduced biocontrol agent,” Mr Lefoe said. “To address this knowledge gap, we partnered with a native scale specialist at the University of Queensland. During this research, the distribution, biology, ecology and phylogeny of native Australian scale insects was studied, leading to vastly improved knowledge of this group of native invertebrates.” The scientists believe the three Neoleucopis species may work together to target GPS, meaning the introduction of all three species could offer full season control under a range of climatic conditions. Again, further research is required to confirm this to be the case. FWPA recently extended this project through to early-2025 to allow for further field and lab studies of the three Neoleucopis species in Greece, and to re-import one of the species into Australian quarantine for further testing.
Categories: Forest Products Industry
Pan Pac Farm Forester of the Year
Congratulations to Thomas Gordon of Clifton Station in New Zealand who won this year’s Pan Pac Farm Forester of the Year at Napier Port’s Hawke’s Bay Primary Sector Awards in April. Source: Timberbiz The Gordon family has been farming at Clifton Station since 1861. Today, Tom and his wife Lucia farm the 800ha station alongside their two children Frankie, 8, and Jasper, 7, and Tom’s parents, Angus and Dinah. Sixth-generation Tom has continued his family’s philosophy of innovation and diversification with effective use of farm forestry to improve low production and high erosion areas. Tom has utilized poor-performing land by planting a variety of tree species, as well as soil conversion plantings on erodible slopes.
Categories: Forest Products Industry
Chinese delegation explores timber opportunities in Australia
A delegation of senior Chinese timber industry players from the China Timber & Wood Products Distribution Association (CTWPDA) visited Australia. With stops in Canberra, Tasmania, and Sydney, the delegation was on a mission to forge partnerships and explore opportunities in Australia’s vibrant timber sector. Source: Timberbiz “We’re thrilled to present to the CTWPDA delegation and showcase the sustainability and quality of Australia’s timber products. This presents a unique opportunity to strengthen bilateral ties and foster collaboration in sustainable forestry practices,” Matt de Jongh, Sustainability Manager at Responsible Wood said. James Jooste, CEO of the Australian Forest Products Association NSW, highlighted the significance of the delegation’s visit saying that Australia’s timber industry is renowned for its high standards of sustainability and innovation. Hosting the CTWPDA delegation allows us to showcase our capabilities and explore mutually beneficial partnerships. Investment NSW emphasised the economic opportunities presented by the visit, noting China is a key market for Australia’s timber exports and that strengthening trade relations with Chinese industry leaders not only benefits the NSW timber sector but also contributes to economic growth and job creation. Daniel Parkin from the Pentarch Forestry Group underscored the importance of collaboration in sustainable forestry management. “By sharing knowledge and best practices, we can work together to ensure the long-term viability of our forests. Collaboration with international partners like the CTWPDA is essential for advancing sustainable forestry initiatives,” he said. The delegation’s itinerary included meetings with key industry stakeholders and a site visit to a timber processing facility in Sydney. The purpose of the meetings was to provide the CTWPDA delegation with insights into the NSW timber sector, including a commitment to responsible forestry practices and the quality of our timber products. The exchange of ideas and expertise during the visit is expected to pave the way for future collaborations. “Building strong relationships with international partners is crucial for the growth and sustainability of Australia’s timber industry. The visit presents an opportunity to explore avenues for cooperation and expand market access,” Mr Jooste said. Mr de Jongh said that Australia offers a wealth of opportunities for investment and trade in the timber sector. Strengthening ties with Chinese industry players opens doors for increased cooperation and mutually beneficial partnerships. The visit of the CTWPDA delegation underscores the importance of international collaboration in advancing sustainable forestry practices and fostering economic growth. By working together, Australia and China can unlock new opportunities and create a more sustainable future for generations to come.
Categories: Forest Products Industry
SA wins top spot in HIA’s Housing Scorecard
The HIA Housing Scorecard report ranks each of the eight states and territories based on the performance of 13 key residential building indicators against their decade average, covering detached and multi-unit building activity, renovations, housing finance and rates of overseas and interstate migration. Source: Timberbiz“South Australia is one of the few markets where first home buyers can still afford a house and land package,” HIA Executive Director Stephen Knight said. “The state has capitalised on this relative affordability, with more and more people choosing it over the larger states to the east. “South Australia has the strongest detached housing sector in the nation with activity remaining resilient to the rise in the cash rate. “Recent efforts to increase higher density development in areas well serviced by transport will help accommodate this housing demand going forward,” he said. South Australia also has the nation’s strongest renovations sector that remains well above pre-pandemic levels of activity. Queensland took out second place in the rankings, trading places with South Australia over the last few years. The state has absorbed significant numbers of overseas migrants, as well as interstate arrivals, especially from New South Wales and Victoria. “Western Australia has had a remarkable surge up the rankings,” Mr Knight said. “The state has capitalised on its affordability advantages and strong economic and employment opportunities to jump from seventh position into third in just one year. “The main constraint for Australia’s mid-sized jurisdictions at the moment is simply getting enough labour to meet their housing demands, a constraint which is gradually easing,” he said. Mr Knight said the largest states, Victoria and New South Wales, faced the most acute land affordability constraints in the nation. He said this had left their detached housing markets more vulnerable to the compounding effect of rising interest rates. Combined with the dramatic decline in new apartment development as state governments tax investment in housing, this had driven these states down the rankings into fourth and fifth position respectively. The smaller states round out the rankings. “The Australian Capital Territory’s multi-units sector has been a valuable source of activity for this jurisdiction, testament to local authorities’ commitment to higher density living. A significant number of residents have nonetheless left the Territory since the pandemic shifted into the rear-view mirror,” Mr Knight said. “Tasmania’s slide down the rankings has been on the back of investors and local residents leaving the state after being such an important driver of the state’s pandemic and pre-pandemic booms. “The Northern Territory is still dependent on major government or mining sector investment to push it significantly up the rankings. “The synchronised cycle of the pandemic is coming to an end. The mid-sized states are pulling ahead,” Mr Knight said.
Categories: Forest Products Industry
WA pumps $67M into new jobs after killing native forestry
WA’s Cook Government’s Forest Management Plan 2024-2033 (FMP), which supports the decision to bring commercial logging of native forests to an end, will be bolstered with a $67.2 million investment over the next four years. Source: Timberbiz “This funding will support that historic decision, as well as create jobs, tackle climate change, and help manage water catchments,” Environment Minister Reece Whitby said. “This is important work, and our Government’s Native Forest Transition plan will also provide local communities the potential for forests to be used for recreation, tourism and other uses.” The funding, which will be part of the 2024-25 State Budget, will deliver: an additional 65 new jobs throughout Western Australia’s South West and metropolitan Perth, focused on a range of climate actions; a new forest health monitoring program; and support for emerging technologies, such as eco-acoustics, fire research, and ecological thinning, to improve forest health. “Under the new Forest Management Plan, some native timbers will still be available through ecological thinning, which promotes forest heath and resilience from drought and bushfires,” Forestry Minister Jackie Jarvis said. “The State Government is committed to working with the smaller sustainable mills that will play a valuable role into the future.” Funding will also support work with Traditional Owners, protection of native wildlife from feral predators and managing weeds and plant diseases. The new jobs will be created between 2024 and 2027 within the Department of Biodiversity, Conservation and Attractions (DBCA) and partner agencies. The Forest Management Plan 2024-2033 came into effect on 1 January. It established the legal framework for managing more than 2.5 million hectares of forests across the State’s South West and includes a commitment to add more than 400,000 hectares of karri, jarrah and wandoo forests as nature reserves, national parks and conservation parks. Opposition Forestry spokesperson Steve Martin said the Government had cost industry jobs in its FMP and now taxpayers were footing the bill for new ones. “Minister Jarvis talks about working with smaller sustainable mills, but we’ve been asking her since the beginning of the year for updates on the status of supply contracts for small operators, with very little information provided in response,” he told The Augusta Margaret River Times. “Their decision to ban native hardwood forestry without warning or consultation threw legitimate and long-term multi-generational business into chaos, and their transition packages have been poorly targeted.” He said this week’s announcement meant more costs for taxpayers while “economic opportunities have been actively killed off by Labor”.
Categories: Forest Products Industry
Philip Morris Stock Has 24% Upside, According to 1 Wall Street Analyst
Categories: Forest Products Industry
1 Magnificent Stock That Has Soared 98% in 3 Years: Here's Why You Should Avoid It Like the Plague Right Now
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Billionaire investor David Einhorn shares an overlooked theory for why gold prices have spiked so much
Categories: Forest Products Industry
The Fed will only cut rates when it's panicking over a recession and a market crash, Black Swan investor says
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US Debt-Sale Plan Seen Benefiting From Fed That ‘Stops Hurting’
Categories: Forest Products Industry
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