The need to know
The need to know for the week ending 16th July 2021
The need to know from Reuters’ global network of journalists
The country’s hottest e-commerce craze is souring fast. Tongcheng Shenghuo, which operates a group-buying app for fresh produce and other daily necessities, has decided to file for bankruptcy, according to its social media account.
The European Commission on Wednesday proposed adding shipping to the bloc's carbon market for the first time, adding pressure on an industry, which had for more than a decade avoided the European Union's system of pollution charges, to become greener.
The U.S. government on Tuesday strengthened its warnings to businesses about the growing risks of having supply chain and investment links to China's Xinjiang region, citing forced labor and human rights abuses there.
South Africa's Durban port suffers major disruption over violence
South Africa’s Durban port has suffered major disruption after days of unrest, and operations have also been badly affected at the Richards Bay port and on a national freight rail line, logistics and freight companies said on Wednesday.
The Ever Given container ship that had blocked the Suez Canal in March left Egyptian waters at 4 a.m. local time following inspections at Port Said, a canal source said on Tuesday.
Egypt's Suez Canal revenue rose to a record $5.84 billion in its 2020-21 financial year (July-June), up from $5.72 bln in the previous year, the Suez Canal Authority said on Sunday.
South Korea's container squeeze throws exporters into costly gridlock
Unable to get a slot on a container vessel, Lee Sang-hoon is considering using fishing trawlers docked for repair in the South Korean port of Busan to meet surging export orders for the car engine oil he sells to Russia.
British manufacturers and those in other parts of Europe want to move more of the supply chain for batteries used in electric cars and renewable energy away from China and closer to their plants, a survey showed on Tuesday.
British home furnishing retailer Dunelm said on Wednesday it expects annual earnings to top market expectations as people renovate their homes during the pandemic but warned about cost pressures across the supply chain.
The White House expects supply chain pressures that are fuelling higher inflation to abate in the "not-too-distant future," but cannot say exactly when, a senior official said on Tuesday after June consumer prices showed the biggest gain in 13 years.
China copper smelter Fangyuan launches ITG supply chain tie-up
Shandong Fangyuan Nonferrous Metals Group, China’s biggest private-sector copper smelter, on Thursday said its subsidiary had officially launched a supply-chain partnership with state-controlled Xiamen ITG Group Corp.
Global supply chain group DP World said early on Thursday that it had made a cash offer of 12.73 billion rand ($887 million) to acquire all the shares of the South African company.
Spanish airport operator Aena plans to launch a tender for a new Madrid cargo hub in the fourth quarter of 2021, it said on Wednesday, as it looks to capitalise on a coronavirus-induced boom in freight logistics.
China's exports grew much faster than expected in June, as solid global demand led by easing lockdown measures and vaccination drives worldwide eclipsed virus outbreaks and port delays.
British online fashion retailer ASOS on Thursday reported a 21% rise in sales in its latest trading period, driven by the popularity of e-commerce during the COVID-19 pandemic.
Top oil shipping companies say they have tightened operational guidelines and deployed technology to prevent accidental breaches of sanctions, as the countries hit by ever tougher restrictions fight back with elaborate strategies to dodge them.
President Joe Biden will order U.S. transportation agencies to crack down on anti-competitive conduct and unjust fees in the rail and sea shipping industries to try to lower costs to consumers, the White House said on Thursday.
From elsewhere around the web:
Warehouse rents climb in Q2 as e-commerce drives demand [Supply Chain Dive]
Stricter regulation looms as carrier profits boom [Port Technology]
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