WEEK NEWS 25, FOMEX WOOD INDUSTRY NEWS

According to data, Vietnam shipped $422 million worth of furniture wood to the UK market in 2019, placing sixth in terms of wood exports.



Wood furniture imports from Japan accounted for 26% of total imports from Vietnam. It reached 75,850 tons in the first four months of 2021, worth $ 195.1 million.




Currently, the export of anniversaries is considered a strength of Binh Duong, which is account for for the highest export value with over 600 exporting enterprises in the industry. Not to mention, Binh Duong's total wood export turnover reached 2 0.8 billion USD in the first five months of the year, up 65.4 percent from the same period last year. The United States is first, with more than 65 percent of all exports, followed by European Union countries. Vietnam's wood sector will grow the market for wood goods in EU nations, particularly when the EV FTA Agreement enters effect.



According to the new legislation, businesses who export wood from planted forests and want VAT refunds must obtain direct verification from locals, although this is difficult, if not impossible, for huge businesses.



Wan Hai Lines will begin a new transpacific (transpacific) service dubbed AA7 on June 18 to expand its transpacific (transpacific) service. This new service connects Asia with the United States' East Coast once a week, employing ten container ships with capacities ranging from 2,800 to 4,000 teu.
This new service's route calls at the following ports: TAIPEI - XIAMEN - SHEKOU - CAIMEP - NEW YORK - SAVANNAH - TAIPEI - XIAMEN - SHEKOU - CAIMEP - NEW YORK - SAVANNAH - TAIPEI
According to Wan Hai Shipping, this service will improve transit speed and service coverage to fulfill consumer demand. The launch of the new service comes at a time when transpacific freight prices are at all-time highs.



The limited volume of containers in circulation was the source of the dilemma. There are two primary reasons for this: the first is that 20 of the world's busiest ports are overcrowded owing to objective causes, making it impossible to carry empty containers back.
Another reason is that several nations have had to halt commercial and industrial activity as a result of the Covid pandemic.

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