A number of recent events such as a new worldwide wave of COVID-19, natural disasters in China and Germany, a cyber attack targeting key South African ports have conspired to drive global supply chains towards breaking point, threatening the fragile flow of raw materials, parts and consumer goods, according to companies, economists and shipping specialists.
The Delta variant of the coronavirus has devastated parts of Asia and prompted many nations to cut off land access for sailors. That’s left captains unable to rotate weary crews and about 100,000 seafarers stranded at sea beyond their stints in a flashback to 2020 and the height of lockdowns.
Vessel capacity is very tight, empty containers are scarce and the operational situation at certain ports and terminals is not really improving. Meanwhile, deadly floods in economic giants China and Germany have further ruptured global supply lines that had yet to recover from the first wave of the pandemic, compromising trillions of dollars of economic activity that rely on them.
In Germany, road transportation of goods has slowed significantly. In the week of July 11, as the disaster unfolded, the volume of late shipments rose by 15% from the week before, according to data from supply-chain tracking platform FourKites.
Ports across the globe are suffering the kinds of logjams not seen in decades, according to industry players. The China Port and Harbour Association said on Wednesday that freight capacity continued to be tight. A cyber attack hit South African container ports in Cape Town and Durban this week, adding further disruptions at the terminals.
Global vaccinations of seafarers are going too slowly to prevent outbreaks on ships from causing more trade disruptions, endangering maritime workers and potentially slowing economies trying to pull out of pandemic slowdowns.
For parts of the world where they are aiming to eliminate Covid, loopholes including maritime workers at container ports, are opportunities for the virus to break through,. They have to eliminate the risk coming off container ships. And if the risk to seafarers isn’t eliminated, then further port shutdowns and global supply disruptions are expected to be continued…
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Given the evolving on-ground situation and newer variant-led infections, the pandemic is far from over. In such a scenario, for businesses to stay relevant, we will need to be flexible and more adaptable to the changes that need to be embraced to keep core business growth drivers resilient.
As the chemical industry moves into 2022, strong demand for both commodity and specialty chemicals should keep prices robust throughout the year. The industry could face margin pressures amid raw material cost inflation, which will likely remain high through the first half of 2022.
Blackouts and power cuts in the world’s second-largest economy have drawn attention to fuel supply problems that could complicate the country’s pandemic recovery.
The Federation of Indian Export Organizations (FIEO), an apex body of Indian export promotion organizations, has urged the government to provide freight support to all exports including pharmaceuticals till 31st March 2022, as freight rates have skyrocketed and are likely to somber by March 2022.
Science keeps winning! Scientists recently transplanted a pig’s kidney into a human being without immediate rejection by the immune system.
In a landmark announcement, the World Health Organization (WHO) has recommended the use of the first-ever malaria vaccine for children. WHO Director-General Tedros Adhanom Ghebreyesus endorsed the RTS,S/AS01 malaria or Mosquirix – a vaccine developed by British drugmaker GlaxoSmithKline (GSK).
China’s power shortages hit growth in the world’s second-biggest economy, threatening more pain for global supply chains, while Europe’s gas squeeze looked set to continue as Russia’s Gazprom showed no sign of hiking exports to the region in October.
The fact that 22 such molecules are going to come out of their patent period will substantially expand the offerings of the Indian companies to people at home and abroad alike and may help fetch extra revenue.
“Current data indicates that neither food nor food packaging is a pathway for the spread of viruses causing respiratory illnesses, including SARS-CoV-2,” according to a new guidance document from the United Nations’ Food and Agriculture Organization (FAO): “In other words, SARS-CoV-2 is not a direct food safety concern.”