The need to know

The need to know for the week ending 18th December 2020

The need to know from Reuters’ global network of journalists

Factbox-Brexit stockpiling pushes up delivery prices, paperwork looms

Britain’s looming departure from the European Union has sparked a rush to bring goods into the country before Jan. 1, pushing up delivery prices and generating queues at borders.

Britain's retail industry demands probe of disruption at ports

Britain’s retailers and food manufacturers have called on lawmakers to urgently investigate ongoing disruption at UK ports, warning that delays were hurting their plans to build stocks ahead of Christmas and the Dec. 31 end of the Brexit transition period.

Boxed out: China's exports pinched by global run on shipping containers

China’s world-beating economic rebound from the coronavirus pandemic is being blunted by a global shortage of shipping containers, sending cargo costs to record highs and hampering manufacturers in filling fast-recovering global goods orders.

As Brexit cliff edge looms, miles of trucks stack up near southern English port

Trucks heading towards the English port of Dover were stacked up for miles on Thursday, just three weeks before Britain exits the European Union’s orbit in a potentially tumultuous finale to the five-year divorce, a Reuters photographer said.

Lloyd's, Parsyl to insure emerging market COVID-19 vaccine rollout

Lloyd’s of London and insurtech firm Parsyl have launched a programme to insure the distribution of COVID-19 vaccines in emerging markets as drugmakers race to address the biggest global logistical challenge since the Second World War.

Boohoo founder vows to fix supply chain failings

Mahmud Kamani, the co-founder and executive chairman of British online fashion retailer Boohoo , on Wednesday told lawmakers he would fix the group’s supply chain failings.

Kawasaki Heavy, Iwatani tie up with Fortescue to develop supply chain of green hydrogen

Japan’s Kawasaki Heavy Industries Ltd and Iwatani Corp said on Monday they have signed a memorandum of understanding (MoU) with Australian miner Fortescue Metals Group Ltd to develop a supply chain of “green” hydrogen.

IT company SolarWinds says it may have been hit in 'highly sophisticated' hack

IT company SolarWinds said on Sunday that monitoring products it released in March and June of this year may have been surreptitiously tampered with in a “highly-sophisticated, targeted and manual supply chain attack by a nation state.”

Tesla teams to visit Indonesia to check on investment in EV components: government

Tesla, the U.S. automaker, will send delegations to Indonesia next month to discuss potential investment in a supply chain for its electric vehicles, the government said on Saturday in a statement.

Apple probes supplier after workers at Wistron plant in India rampage

Apple Inc said on Monday it is investigating whether a Taiwan contractor, Wistron Corp, flouted supplier guidelines at an iPhone manufacturing facility in India, after some workers ransacked the plant in a protest over unpaid wages.

China to step up fiscal support for new economic strategy

China will step up fiscal policy support for a strategy to make its economy mainly rely on domestic demand, supply chains and innovation, Finance Minister Liu Kun said.

South Africa's Imperial full-year profit dips on fall in logistics business

South African distribution and transport firm Imperial Holdings reported a 10 percent drop in full-year profit on Tuesday after a fall volumes in its logistics business and domestic vehicle sales.

E-commerce firm Wish sees shares fall 5% in market debut

Shopping app Wish’s parent company ContextLogic Inc saw its share price fall more than 5% in its trading debut on Wednesday, after raising $1.1 billion in an initial public offering (IPO).

Ship finance lenders fall short of sector's carbon targets in 2019

Many of the world’s biggest lenders to shipping companies fell short of carbon-cutting targets last year in the first analysis of CO2 goals for the sector by financiers, a report showed on Wednesday.

UK draws up plans to rival Singapore with post-Brexit shipping regime - FT

The UK is drawing up plans to turn London into a rival for Singapore as a hub for shipping companies to register their vessels following the end of the Brexit transition period, the Financial Times reported, citing people briefed on the proposals.

Low water still hinders Rhine river shipping in Germany

Low water after dry weather in past weeks continues to prevent cargo vessels from sailing fully loaded on the river Rhine in Germany, traders said on Monday.

Santa takes a back seat to COVID vaccine, UPS, FedEx officials say

United Parcel Service and FedEx Corp plan to deliver millions of doses of COVID-19 vaccines before holiday gifts - giving them VIP handling that includes GPS tracking, special labels and first-loaded status on planes and trucks.

Brazilian prosecutors sue Maersk, seek to freeze $200 million

Federal prosecutors in Brazil filed a civil lawsuit against Danish shipping company Maersk and former executives representing the firm for alleged corruption involving shipping contracts with state-run oil firm Petrobras, they said on Friday.

Pendulum swings in favour of aluminium demand and prices

Flourishing aluminium demand in China and the United States, higher freight costs and tight scrap supplies are expected to fuel further rises in prices of the metal used in the transport, packaging and construction industries.

From elsewhere around the web:

Coronavirus vaccine distribution by the numbers. [Supply Chain Dive]

Container ports are booming — and not just on West Coast. [FreightWaves]

The curse of 'white oil': electric vehicles' dirty secret. [The Guardian]

China’s ‘tainted’ cotton. [BBC]

IT developers move in to support logistics through post-Brexit 'fallout'. [The Loadstar]

How the charter and container markets have collided. [The Loadstar]

The Supply Chain's Responsibility in Sustainability. [SDC Executive]

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