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
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 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. Commerce Secretary Gina Raimondo said on Thursday that the United States was looking to deepen resilience of supply chains with Southeast Asian partners.
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.
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.
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.
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 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.
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.
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.
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. 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 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.
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]
Lack of Digital Maturity in U.S.: Study [SDC Exec]
Carriers, shippers grapple with how to cut emissions in airfreight [Supply Chain Dive]