THE LONDON HARDWOOD CLUB
Bi-monthly Meeting
Wednesday, 26th June 2019
HAC
This double bill on currency and credit insurance attracted 23 members. Our speakers were:
From Western Union:
George Vessey and Tom Rossiter
From Credit and Business Finance (CBF)
Simon Berry and Gemma Davidson
A copy of the speakers’ presentations are attached for download. As ever the market discussion leads to a good Q&A session and the main points arising are below.
The LONDON HARDWOOD CLUB continues present interesting, relevant and engaging topics like this to its members and guests at these bi-monthly lunch meetings.
We look forward to seeing you on 18th September where we have Dana Spessart of the NHLA presenting on the NHLA Grading Rules. This is bound to be a popular meeting, so whether you’re an old hand looking to polish up on your minimum clear cutting sizes or want to send younger staff for some FOC training, be sure to keep an eye on your inbox in early September.
END
Q&A
Currency: Western Union
Q. In the Hardwood importing trade, we often view our stock as a natural ‘hedge’ on currency, what are your views on this?
A. Yes that is a common approach and makes sense when you have a spread of stock of different age and bought at varying exchange rates.
Q. Is there any retrospective analysis of the gains made by hedging versus simply buying in the spot market?
A. Good question!
Q. Have banks become more competitive recently on their exchange products?
A. Yes they have, but generally in the spot market and the more complex products – value added – they are less so.
You Can download the presentation at the foot of this report
Companies that attended
Border Hardwoods
DW Mouldings Ltd
Tradelink Wood Products Ltd
Ubangi Timber Ltd
MBM Speciality Forest Products Ltd
Danzer UK Ltd
Roger Mitchell
Robbins Timber Ltd
Wellwood Ltd
Timber Link International Ltd
MBM Speciality Forest Products Ltd
Western Union
CBF