The need to know
The need to know for the week ending 11th February 2022
The need to know from Reuters’ global network of journalists
The Canadian truckers blockade is posing a risk to the auto industry's supply chain and U.S. officials were in close touch with their counterparts in Canada on the issue, the White House said on Wednesday.
Britain and South Korea will on Monday sign an agreement to reinforce pandemic-damaged supply lines for key products like semiconductors, with trade minister Anne-Marie Trevelyan due to host her counterpart Yeo Han-koo in London.
Two top European shippers warned on Wednesday freight costs were likely to remain high well into this year, offering no relief to customers including the world's biggest retailers, though they said bottlenecks should ease later in the year.
British retailers have cancelled 7.1 billion pounds ($9.6 billion) in contracts over the last 12 months with suppliers that do not meet their ethical and sustainability standards, according to a report from Barclays Corporate Banking.
China's "zero-COVID" restrictions could weigh on world growth by prolonging supply chain disruptions and global inflationary pressures, a Bank of Japan policymaker said, warning of the broadening fallout from rising Omicron variant cases.
A nearly three-month long labour strike at Kellogg's (K.N) U.S. cereal plants is expected to dent profit margins already under pressure from steep costs driven by global supply logjams.
German industrial production dipped in December, official data showed on Monday, as supply chain bottlenecks and a drop in construction hampered Europe's largest economy at the end of last year.
FedEx Corp (FDX.N) is in talks with Boeing (BA.N) and Airbus (AIR.PA) to buy next-generation freighters as e-commerce soars, but the delivery giant has postponed a buying decision amid ongoing labour talks with pilots, industry sources said.
Siemens (SIEGn.DE) is very close to selling its logistics business, sources have told Reuters, with a deal likely to be "imminent".
Denmark’s shipping magnates are on a different wavelength to central bankers. A.P. Moller-Maersk and DSV, two of the biggest names in global logistics, on Wednesday predicted another bumper year of profits due to continued backlogs in ports and other bottlenecks
The European Commission has proposed adding shipping to the bloc's carbon market for the first time, in a move that is set to shake up the industry after years of avoiding pollution charges by the bloc.
German shipping company Hapag Lloyd expects delivery bottlenecks and high prices for container freight to start easing in the second quarter, its chief executive said.
Toyota Motor Corp (7203.T) said on Wednesday it did not expect its auto plants in Ontario to produce vehicles for the rest of the week, because of supply problems stemming from COVID-19 trucking protests and other factors.
Self-driving truck company Embark Technology Inc (EMBK.O) on Tuesday said it was handing over a few of its trucks to Knight-Swift (KNX.N), in what the companies called the first instance of a carrier owning and operating autonomous trucks as part of its fleet
Volkswagen does not expect the global shortage of semiconductors to end this year although it should further ease slightly in the second half, a board member was quoted as saying by industry magazine Automobilwoche.
From elsewhere around the web:
Food suppliers wade into logistics as trucking rates soar [Supply Chain Dive]
Maersk acquires Pilot Freight Services [Port Technology]