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November 16, 2021
Congested Chinese ports put high pressure on log exports
The cost of shipping wood to China has almost trippled since January — the result of Covid, increased fuel prices and so on. The slowdown in the Chinese economy has extended to the construction industry. Currently, 10 percent of the global shipping fleet is sitting in the water off China waiting to discharge and incurring demurrage costs daily. (Demurrage is a charge payable to the owner of a chartered ship on failure to load or discharge the ship within the time agreed.) Many ports have been shut down due ...
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