Looking within a short-term horizon, the outlook for container shipping over the next 2-3 months appears relatively well-known, although certainly not well-liked by shippers. In essence, we will continue to see a situation of bottleneck problems, capacity shortages and high pressure on rates. This is, hopefully, not a surprise to anyone now.
The International Monetary Fund (IMF) has just published their new global economic outlook, and they have revised economic growth projections for 2021 and 2022 upwards. They now expect global GDP to grow 6.0% in 2021 and 4.4% in 2022. For the U.S, the growth expectation for 2021 is higher at 6.5%, while for China and India it is much higher at 8.4% and 12.5% respectively.
This means that strong container demand growth is anticipated to persist through not only 2021 but also 2022 based on these economic projections.
The very high freight rate level presently is sustained by severe bottleneck effects, and the problematic issue is that the ripple effects from the Suez incident will further postpone the ability to re-balance container flows as well as handle port congestion. In all likelihood, the bottlenecks might not be removed until sometime during Q3 2021 at the earliest and this might not be until Q4 2021.
Carriers do have more vessels on order and have placed orders for basically a million TEUs of vessel capacity over the past couple of months. However, these new orders will only be delivered in 2023-2024. This has caused charter rates for container vessels to grow rapidly. This implies that carriers expect a tight market for vessels in the next couple of years.
For Q3, and possibly into Q4, we will continue to see a very tight market in terms of capacity and freight rates will see a continued pressure to remain at very elevated levels. The main driver is shippers who in the present environment prioritize supply chain resilience more than transactional freight costs.
Coming into late 2021 and further for 2022 the bottlenecks will disappear, and a more normal supply/demand environment will emerge. This will cause a reduction in freight rate levels, but due to the continued strong demand growth and modest delivery of new vessels the reduction is unlikely to be at the same levels as seen before the pandemic.
Over the last year, several drugs have either been developed or tested to treat coronavirus. Now there’s another new antiviral drug that’s showing some promise by demonstrating ability to stop SARS-CoV-2 transmission within 24 hour!
An efficient, versatile linker is developed for the synthesis of C-terminal primary/secondary amides and hydrazides as well as peptide alcohols, which is compatible with solid-phase peptide synthesis (SPPS) and suppresses side reactions. It is termed as Ramage Linker.
Carbon dioxide (CO2) is one of the major greenhouse gases causing global warming. If carbon dioxide could be converted into energy, it would be killing two birds with one stone in addressing the environmental issues. A new photocatalyst is developed recently, which can produce methane fuel (CH4) selectively and effectively from carbon dioxide using sunlight. According to this research, the quantity of methane produced was almost doubled in the first 8 hours of the reaction process.
Reliable temperature-controlled coronavirus vaccine logistics require smooth integration of all those involved as well as materials that provide good insulation. As the range of coronavirus vaccines grows, so do the requirements for their distribution. The different vaccines need to be stored and transported at different temperature ranges – often together in the same vehicle or cold store. Handling complex processes like this is routine for leading logistics companies. But they depend on the skills of packaging providers and raw materials suppliers.
To control Covid-19 in a more effective way, leading face mask manufacturers have adopted technologies like Virus Protection Technology (VPT) approved by regulatory authorities globally to ensure maximum breathability while ensuring protection through anti-viral and anti-bacterial coating.
Today we announce that Exim is rebranding as ExSyn. We are presenting a new brand identity and website as a reflection of our relentless transformation over the course of 30 years serving the pharma and chemical industries. The new brand builds upon our core strengths as a sourcing company and captures our most essential duty: helping improve people’s health and lives.
Before the COVID-19 pandemic,
almost all audits and inspections were conducted on site. Plant audits were performed based on the Pre- Audit questionnaires (PAQ), audit agendas and checklists assigned by the auditor which were more or less a supplement to the overall onsite supplier qualification process of GMP audits.