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
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 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.
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.
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 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.
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.
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 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, 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 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 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 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.
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).
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.
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 on.ft.com/2LFUxQw, citing people briefed on the proposals.
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.
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.
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.
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]
How the charter and container markets have collided. [The Loadstar]
The Supply Chain's Responsibility in Sustainability. [SDC Executive]
To get all the latest supply chain news into your inbox every week, sign up to our newsletter here!