The US intends to reinstate higher anti-subsidy duties on softwood lumber, says it didn’t have authority to conduct “expedited” review. In company news: Western Forest Products’ strong Q4, full-year results; Louisiana Pacific’s upgrade plans for Golden, BC and Houlton, Maine; Rockshield EWP’s investment plans in Cochrane, Ontario, a new truss plant for 84 Lumber in Virginia; West Fraser’s Top 100 Employer’s award; and Canfor’s generosity.
In the Markets, a flat outlook for Arkansas’s forest owners; and more on record lumber prices, US housing starts, mortgage rates; and builder credit conditions. In Forestry news: forest health investments in Idaho; forest education goes virtual in Georgia; sustainable forestry in Malaysia; timber wars in Australia; and Brexit’s ban on Northern Ireland’s tree.
Finally, congrats to Jim Girvan, one of BC’s newest Distinguished Foresters.
Kelly McCloskey, Tree Frog Editor
Now in its 16th year, BC’s Top Employers is an annual competition organized by the editors of Canada’s Top 100 Employers. This special designation recognizes the British Columbia employers that lead their industries in offering exceptional places to work. This year’s winners were announced in a special magazine published February 16, 2021, and featured in the Vancouver Sun. Workplace safety is always top of mind for British Columbia’s best employers. But the pandemic has put it in the spotlight like never before. In this respect, the organizations on this year’s list of BC’s Top Employers have shone brightly. West Fraser Timber Co. Ltd. was selected as one of 
VANCOUVER, BC – Western Forest Products reported adjusted EBITDA of $71.1 million in the fourth quarter of 2020. Western capitalized on strong North American lumber markets by growing Western Red Cedar shipments, and by redirecting commodity production from weaker export markets into the speciality treated lumber segment. Net income in the fourth quarter of 2020 was $34.4 million, as compared to a net loss of $29.2 million for the fourth quarter of 2019 and net income of $11.5 million in the third quarter of 2020. …”We capitalized on strong North American lumber markets in the fourth quarter to deliver significantly improved financial results,” said Don Demens, President and CEO. …For the year ended December 31, 2020, Western delivered adjusted EBITDA of $116.8 million compared to negative adjusted EBITDA of $1.5 million in 2019. Western reported net income of $61.2 million in 2020, as compared to a net loss of $46.7 million in the prior year.
After reporting a sharp increase in new residential construction in the U.S. in the previous month, the Commerce Department released a report on Thursday showing housing starts pulled back by much more than expected in the month of January. The Commerce Department said housing starts tumbled by 6.0 percent to an annual rate of 1.580 million in January after soaring by 8.2 percent to an upwardly revised rate of 1.680 million in December. …Meanwhile, the report also said building permits skyrocketed by 10.4 percent to an annual rate of 1.881 million in January after jumping by 4.2 percent to a revised rate of 1.704 million in December. …”We expect the pace of housing starts to moderate in 2021,” said Nancy Vanden Houten, at Oxford Economics… “However, we still expect recovering demand, low mortgage rates and a shortage of supply to support a healthy rate of new home construction.”
While home buyers were benefitting from low mortgage rates at the end of 2020, builders and developers were also experiencing lower interest rates and improved credit conditions, according to NAHB’s survey on financing for Acquisition, Development and Construction. The net tightening index derived from the NAHB survey was -17.0 in the fourth quarter of 2020, compared to -3.3 in the third quarter of 2020. The index is constructed so that positive numbers indicate tightening of AD&C credit, negative numbers easing. Meanwhile, a similar net tightening index from the Federal Reserve’s Senior Loan Officer Opinion Survey remained positive but declined somewhat. …The Fed survey thus continues to show tightening, while the NAHB survey has now shown two consecutive quarters of easing credit conditions. 
The crucial role that timber plays as an alternative material to concrete, steel and plastics is becoming evident. Beyond windmills, solar panels and a constant stream of innovation to mitigate carbon emissions in the built environment, many now believe timberland holds the key to a more sustainable world as it shifts towards a circular ‘bio’ economy. Using forests for carbon sequestration is a known path to reducing carbon dioxide, but the crucial role of timber products in helping limit global warming to 1.5°C by 2030 is only now becoming more evident. An increasing range of products manufactured from sustainably-cultivated forests is contributing to climate-change mitigation. These compete with a wide spectrum of products relying on high-energy inputs in the manufacturing process. They range from cross-laminated timber used in construction of high-rise structures as a replacement for concrete and steel, to the wood fibre and pulp replacing synthetics.
A Nova Scotia project working to develop the most resilient forests… The Genome Atlantic, a non-profit organization, recently received $315,500 over four years to work with the Atlantic Tree Improvement Council to plant faster-growing trees that are more resistant to disease. The new funding comes out of the Forestry Innovation Transition Trust, which announced two other projects earlier this month. …Richard Donald of Genome Atlantic said Genome Atlantic is looking to select and replicate various ideal tree genes, but not tweak them to create something new, which would be genetic modification. …The group is looking for all sorts of target traits, such as faster growth, more resiliency to pests, or the temperature extremes that are expected in a changing climate. …Donald said the project aligns with the Lahey report, which suggests setting areas of the province aside for high-production forestry and leaving room for biodiversity.
Atlanta — Georgia Public Broadcasting (GPB) Education and the Georgia Forestry Foundation (GFF) are partnering again for the launch of Georgia Forests Virtual Learning Journey II, an interactive experience for high school students. Georgia Forests Virtual Learning Journey II is the third resource in GPB’s Georgia Forests collection, which also includes 
