The 4th outbreak of the Covid-19 epidemic caused the Vietnamese export turnover of wood products to decrease by 17.3% in July 2021 compared to the previous month and the export turnover in the first 15 days of August only reached 373.8 million, equivalent to 45.5% of turnover in the first 15 days of July 2021.
The 4th outbreak of Covid-19 led to strong government interventions through social distancing. This has been having a direct impact on all aspects of society, including the production and business activities of the entire Vietnamese timber industry. Large wood processing centers such as Binh Duong, Dong Nai, Ho Chi Minh City, Binh Dinh with the large presence of businesses were severely affected. Supply chain disruption, decline in orders, job cuts, downsizing or closing factories are the response measures currently being applied by businesses. Many businesses try to maintain production at 20-50% compared to before the time of isolation, in order to partially meet customer requirements and maintain jobs for employees.
Recently, the US Department of Commerce (DOC) has announced an extension of the investigation time into the anti-tax evasion investigation on hardwood plywood products from Vietnam.
On August 24, 2021, the DOC announced an extension of the time to investigate the incident. Accordingly, this agency is expected to issue investigation conclusions on November 24, 2021 (for product scope investigation) and April 20, 2022 (for fraudulent investigation content). avoid trade remedies).This is the second time the DOC has extended the investigation period. Previously, on March 11, 2021, the DOC extended the time to issue investigation conclusions to August 24, 2021.
In order to ensure the legitimate interests of enterprises producing and exporting hardwood products to the United States, the Trade Remedies Administration (Ministry of Industry and Trade) recommends that enterprises continue to closely monitor the developments of the case. regularly update information from DOC, Trade Remedies Administration and import partners in the US. Fully cooperate with the DOC during the investigation. Contact the Trade Remedies Department for timely assistance.
The number of containerships waiting at the ports of Los Angeles (LA) and Long Beach (LB) has hit 41 as freight rates continue to rise. The number of ships at anchor in San Pedro Bay waiting to berth at the ports of LA and LB has surpassed its previous February high of 40, with some 41 vessels now queued, according to project44. A further 33 containerships are berthed at the two ports for handling.
The latest surge in vessels waiting at the southern Californian ports is attributed to shippers acting early to try and beat congestion later into the peak seasonIn some good news it said that the average weekly dwell times at LA and LB have dropped by nearly three days last week suggesting a strong rally to handle the influx of cargo. However, the efforts of the ports to clear containers quicker may not be enough. ‘While port infrastructure and personnel are performing admirably under the circumstances, the capacity/volume mismatch between maritime ports and overland transport could get worse in the weeks and months ahead, setting the stage for another breaking point in supply chains,” the analyst warned.
As congestion continues to rise in the US West Coast ports combined with incidents such as the two-week closure of the Meishan Island International Container Terminal (MSICT) at Ningbo-Zhoushan port due to a Covid case, container freight rates have continued to rise from already record levels.