More than 30% of timber imported through Australia’s busiest seaport is now at risk of being tied up in the Red Sea conflict – which has already seen more than US $200 Billion work of cargo sail through the Cape of Good Hope to avoid the Suez Canal.<\/p>\n\n\n\n
Earlier this month<\/a>, Wood Central exclusively revealed that global timber was amongst the industries most impacted by the crisis, with the world’s big six traders, including China, Canada, Russia, Sweden, Germany and the US, using the thoroughfare the cycle timber through global markets.<\/p>\n\n\n\n The trade from these countries amounts to about 70% of the global trade in timber products. And with the recent deaths of two US Navy Seals in the passage<\/a>, the risk of a prolonged conflict (and with it, delays in supply and potentially increased prices for timber imports) is growing by the day.<\/p>\n\n\n\n