The need to know
The need to know for the week ending 20th May 2022
The need to know from Reuters’ global network of journalists
Global supply stress worsened in April, NY Fed's index shows
Stress on global supply chains worsened in April as coronavirus lockdown measures in China and the war in Ukraine lengthened delivery times, and air freight costs between the United States and Asia rose, the New York Federal Reserve reported in its latest update to a worldwide index of supply problems.
German manufacturing backlog higher than ever, survey shows
German manufacturers' order backlog is at a record high, according to a survey released on Monday, as companies struggle against supply bottlenecks in meeting high demand.
U.S. seeks better supply chain resilience with Southeast Asia -Raimondo
U.S. Commerce Secretary Gina Raimondo said on Thursday that the United States was looking to deepen resilience of supply chains with Southeast Asian partners.
Central banks' hopes for supply chain miracle may be dashed by China, Ukraine
Global central banks hoping that high inflation would ease through improving global supply chains saw little relief through April as new coronavirus lockdowns in China and the war in Ukraine lengthened delivery times and drove costs higher, new analyses from the New York Federal Reserve and others indicates.
China lockdowns impeding supply chain recovery, slowdown risks spillovers, Yellen says
U.S. Treasury Secretary Janet Yellen said on Wednesday that COVID-19 lockdowns in China appear to be impeding the flow of goods and hampering global supply chains and a broader slowdown in growth in the world's No. 2 economy could have global spillover effects that warrant close attention.
BHP CEO says supply disruptions may last years; may speed up Jansen project
Supply chain disruptions in the mining sector could take up to three years to resolve, the chief executive of the world's largest listed miner BHP Group (BHP.AX) said on Tuesday.
Balkan companies see 'near-shoring' opportunity with global supply woes
As supply chain disruptions caused by the COVID-19 pandemic, war in Ukraine and lockdowns in China hit Western European markets, Balkan companies are hoping to benefit from their close proximity and low labour costs.
Nissan warns of flat profit as chip shortage becomes 'new normal’
Nissan Motor Co (7201.T) expects flat operating profit this fiscal year, far below analysts' expectations, as Japan's third-biggest carmaker grapples with a global chip shortage, rising material costs and China's COVID restrictions.
JD.com beats revenue estimates but CEO cautious over COVID outbreaks
E-commerce group JD.com Inc (9618.HK), beat estimates for quarterly revenue as more people shopped on its platform following COVID lockdowns in China, but its CEO was cautious on the outlook due to logistical disruptions and sluggish consumption.
EBRD to help Ukraine find an exit for its exports
The European Bank for Reconstruction and Development (EBRD) is considering financial support for Ukraine's transport and logistics companies to help them maintain their exports, a senior bank official said on Thursday.
DHL Express Americas to invest $137 mln in operating capacity this year-executive
The Americas division of German logistics giant Deutsche Post AG (DPWGn.DE) will invest $137 million this year in increasing its operating capacity, including spending on airplanes, its chief said on Wednesday.
U.S. can waive trucking rules for formula deliveries if needed -Buttigieg
U.S. Transportation Secretary Pete Buttigieg said on Monday that his department can waive hours of service rules for truck drivers to deliver infant formula if needed.
Britishvolt, Scorpio Group to research maritime EV batteries, storage
Britishvolt said on Wednesday that Monaco-based Scorpio Group had made a strategic investment in the electric vehicle (EV) battery startup and the two companies will research battery power and storage options for maritime shipping.
Air France-KLM agrees cargo deal with French shipping firm CMA CGM
French shipping firm CMA CGM will take a stake in Air France-KLM (AIRF.PA) as part of an air cargo partnership, betting on growing demand for flying goods around the world as supply chains remain snarled in the wake of the pandemic.
From elsewhere around the web:
Supply chains are never returning to ‘normal’. [Freight Waves]
Southeast Asia’s e-commerce market is still in its ‘opening act,’ says venture capital firm. [CNBC]
CMA CGM offers cash incentive for returning containers early. [The Loadstar]
Lack of Digital Maturity in U.S.: Study. [SDC Exec]
Carriers, shippers grapple with how to cut emissions in airfreight. [Supply Chain Dive]