Many small- and medium-size plastic converters in Europe are fighting for survival in the face of raw material shortages and soaring prices, forced to turn away new business as they struggle to fulfill existing orders.
Our most recent list of force majeure and allocation announcements from suppliers is here.
Texas is facing another — yet smaller — power-grid emergency due to a mild cold front, as 25% of generators are down for repairs due to February’s storm. The state’s grid operator is urging conservation to avoid blackouts.
Supply chain disruption and hedge buying by concerned automobile companies is creating a shortage of rubber used for tires, the latest looming obstacle confronting the automotive industry.
Longshoremen approved a partial strike at the Port of Montreal over working conditions, portending congestion and shipping delays. Cargo volume at the port was down 11% last month as shippers diverted deliveries in anticipation of the strike.
Roughly 1.9 million TEU of containerized freight held up by the Suez Canal blockage is about to make its way toward ports in Northern Europe, where it is expected to cause further port congestion.
Logistics conditions remain strained, with trucking demand exceeding availability and continued congestion at ports due in part to operating challenges related to the pandemic. Clients are advised to provide expanded lead times on orders to help ensure delivery dates.
There were 77,878 new COVID-19 cases and 823 deaths in the U.S. yesterday. Over 192 million vaccine doses have been administered, with 20.8% of the population fully vaccinated.
COVID-19 infections in the U.S. rose 8% last week, the fourth weekly increase, and hospitalizations were up for the second consecutive week.
COVID-19 infections surged to over 9,000 in Florida yesterday, the highest level since early February.
Pfizer said it would ramp up vaccine production to offset a loss in deliveries of Johnson & Johnson’s shot after the government urged states not to use it after some recipients suffered blood clots. Johnson & Johnson vaccines make up less than 5% of administered shots in the U.S. to date.
State and local authorities have been slow to allocate nearly $25 billion in federal rent relief, leaving many tenants and landlords waiting months for their share from the nation’s largest-ever rental-assistance effort.
Global equity markets rose to record highs on Tuesday, led by surging technology stocks, after U.S. consumer price data for March indicated manageable inflation levels.
Five signs of the U.S.’s quickening economic recovery include higher gasoline prices, more car rentals and hotel registrations, greater restaurant traffic, and more people going to sporting events, concerts and theme parks.
Ford Motor Co. is hoping to begin having employees return to its Dearborn, Michigan headquarters in July at “significantly reduced capacity” as the company plans to embrace hybrid home and office work.
Deutsche Bank AG said it will begin offering Moderna’s COVID-19 vaccine to all staff and eligible dependents at its New York City office starting next week in hopes of encouraging an eventual return to in-office work.
Boeing delivered 29 aircraft in March, up from 20 a year earlier as the plane maker’s net orders remained positive for the second straight month.
American Airlines posted positive cash flow in March before debt and severance payments, reducing its daily cash burn to about $4 million per day compared with $30 million per day in the previous quarter. The airline will expand its summer schedule in anticipation of increased demand stemming from more travelers receiving their COVID-19 vaccines.
Personal care brand Plus has unveiled a new bodywash that comes in a wood pulp package that is 100% dissolvable in water.
Nike is introducing a new program, Nike Refurbished, to refurbish returned, slightly used sneakers for resale as part of its efforts to promote a circular economy.
India, once the world’s largest exporter of COVID-19 vaccines, is now seeking imports to contain a record surge in infections. The nation will approve the use of all COVID-19 vaccines that have emergency approval from the World Health Organization or regulators in the U.S., Europe, Britain or Japan.
Migrant workers in India who had only recently returned to cities for work after fleeing early in the pandemic are once again heading back to their villages following a resurgence in COVID-19 infections and fears of a new lockdown.
The U.K. economy grew 0.4% from January to February as companies prepared for the lifting of a third coronavirus lockdown.
JPMorgan’s head of environmental, social and governance (ESG) research says sustainability investment funds in Asia will double for the second year in a row, citing regulation that requires public companies in the region to disclose their ESG data.
Our next Plastics Reflections Web Series is Tuesday, April 20 at 1:00 pm CT. This webinar focused on Driving Sustainability Action in the Plastics Industry will feature panelists from Business Publishing International (BPI), Danimer Scientific, Coca-Cola and M. Holland. Click here to learn more and register.
M. Holland’s 3D Printing group offers a rapid response alternative for producing selected parts where resin availability is tight during prevailing force majeure. For more information, email our 3D Printing team.
Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets. To arrange a videoconference or meeting with any of our Market Managers, please visit our website.
M. Holland Company
We will provide further COVID-19 bulletins as circumstances dictate. For all COVID-19 updates and notices, please refer to the M. Holland website.
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