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.
Coal, oil and gas prices have all rocketed higher in recent weeks hammering utilities and consumers from Beijing to Brussels, raising inflationary pressures and putting at risk a global recovery from the COVID-19 pandemic.
Europe, which relies on Russia for 35% of its gas supplies, has seen its benchmark gas price rise more than 350% this year. As a result, a slew of European firms that supply gas or power to households and companies have folded.
The Czech Republic’s energy regulator took the exceptional step of asking suppliers to provide reassurances that they could supply energy to homes and companies, after another of the country’s electricity and gas groups halted supply.
A dozen or so suppliers have already gone bust in Britain.
In Asia, power provider Ohm Energy said it had exited the retail electricity market in Singapore, the third company to do so in recent weeks.
China, which needs coal to fire up about 60% of its power plants, has been grappling with a shortfall in supplies and surging prices for the most polluting of fossil fuels, leading to disruption in electricity supplies for factories and homes.
A global rebound from the depths of the pandemic-induced slump has left all fossil fuel suppliers struggling to keep pace.
European companies are among those feeling the pinch from the energy price surge, adding to other challenges that include a shortage of memory chips and a lack of shipping containers.
Supply chain volatility has intensified globally said and this headwind is expected to continue in the fourth quarter.
Reference:
https://economictimes.indiatimes.com/news/international/business/power-squeeze-curbs-chinese-growth-leaves-europe-in-a-gas-bind/articleshow/87112298.cms
The severe drought which has forced the Panama Canal, one of the world’s busiest trade passages, to limit daily crossings could impact global supply chains during a period of high demand.
In the early hours of March 26, the Singapore-flagged ship Dali, loaded with 5,000 containers, slammed into Baltimore’s Francis Scott Key Bridge, causing the 1.6-mile (2.5-kilometer) bridge to collapse in a matter of seconds. The Dali was departing for Colombo when the disaster struck. Initial fears were confirmed that half a dozen people lost their lives in the accident.
The pharmaceutical and biotechnology industries constantly seek innovative methods to enhance product stability, solubility, bioavailability and ease of use. Within this realm, CDMOs [Contract Development & Manufacturing Organizations] serve as invaluable partners in the development and production of high-quality drug products.
Chinese New Year 2024 is upon us, disrupting logistics from Asia starting Feb 10th. This event is expected to impact global shipping until Feb 21. Freight rates from Asia has skyrocketed with rates to the US surging by 3.5X and Europe by 6X.
Amid ongoing Red Sea diversions by shipping giants like Maersk, CMA, logistics managers are globally confronting a dual challenge of escalating ocean and air freight prices alongside cargo disruptions due to
Why will CM be the next generation on quality?
The Fifth International Conference on Chemicals Management (ICCM5) concluded on 30 September in Bonn, Germany, by adopting “a comprehensive global framework that sets concrete targets and guidelines for key sectors across the entire lifecycle of chemicals”.
In October, the People’s Republic of China celebrates its annual national holiday, known as Golden Week. Similar to Chinese New Year, the entire country is on holiday, resulting in business closures and a potential 14-day halt in production and transportation of manufactured goods.
The European Chemicals Agency (ECHA) has amended the Prior Informed Consent (PIC) Regulation, EU 64/2012, to add 27 pesticides and eight industrial chemicals into Annex I, bringing the total to 295. As a result, EU exporters are now required to notify their intentions to export them from 1 November onwards.