Fuel consumption worldwide is set to increase about 6% this year from 2020, boosting gas prices in the U.S., China and the U.K.
Saudi Arabia is preparing to sell a 1% stake in state-controlled oil giant Aramco to an unnamed foreign company.
A tanker carrying roughly 1 million barrels of oil collided with a bulk vessel near the Chinese port city of Qingdao, spilling oil into the Yellow Sea.
Exxon Mobil may have missed out on profit during last year’s volatile oil market after pulling most of its speculative trading capital and limiting traders’ activities.
Grocer chain Kroger announced the expansion of its mail-in recycling program, where consumers can recycle certain plastics and packaging from its house brands that are not currently accepted by curbside programs.
Nova Chemicals’ Sarnia, Ontario, ethylene unit went down, forcing a force majeure declaration on all products produced there, including low density and high density grades.
Our most recent list of force majeure and allocation announcements from suppliers is here.
Volkswagen’s Mexico unit will curtail production of its Tiguan and Jetta models next month due to the global semiconductor shortage.
In a Senate subcommittee hearing yesterday, major U.S. automakers pressed Congress again to address the global shortage of computer chips through implementing tax incentives and government subsidies.
Shoppers across the globe are expected to spend 20% more online in 2021 than they did last year, according to transaction data from over 80 countries gathered by Adobe.
Despite disruptions due to the Texas winter storm and port backlogs, United Parcel Service posted a 27% increase in first-quarter revenue on higher volumes from small and midsize businesses. The company plans to increase its weekend deliveries in the coming months, with pricing set to remain unchanged.
Old Dominion Freight Line will invest $605 million in new tractors, technology and possibly service centers this year.
Maersk raised its 2021 earnings outlook after early reports showed strong growth in first-quarter revenue and operating earnings.
DSV Panalpina has acquired the logistics division of Kuwait’s Agility Public Warehousing for $4.1 billion, creating the world’s third-largest freight forwarder.
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 50,856 new COVID-19 cases and 641 deaths in the U.S. yesterday. Over 232 million vaccine doses have been administered, with 27.12% of the population fully vaccinated.
A “double mutation” variant of COVID-19 first discovered in India has made its way to the U.S., although scientists are unsure whether the strain is more infectious than others.
Mass vaccination sites in New York State will open to walk-in appointments starting Thursday. COVID-19 cases have dropped 34% over the past week in New York City, easing fears about new variants of the virus amid higher vaccinations.
Los Angeles County could widely reopen as early as next week after reaching the lowest threshold on the state’s COVID-19 risk assessment scale.
The Massachusetts state university system is requiring all students returning this fall to be vaccinated against COVID-19. The state’s governor lifted an outdoor mask mandate alongside many other pandemic restrictions.
Public health officials have become the face of government authority during the pandemic, bringing a wave of aggression, attacks and security threats that have upended their lives as they seek to implement state and federal coronavirus restrictions.
Eli Lilly reported lower-than-expected first-quarter profit as demand waned for its COVID-19 antibody therapies with the U.S. vaccine rollout picking up speed.
Visa said it is seeing the “beginning of the end” of the consumer spending decline as it posted better-than-expected results on a 31% rise in volume on its U.S. debit cards, with cardholders energized by $800 billion in federal stimulus checks.
Global banking giant HSBC nearly doubled its quarterly net profit as rebounding economies allowed the bank to free up funds previously set aside to offset pandemic losses that never came.
India set another daily record for new COVID-19 infections, with 360,927 reported cases yesterday.
Only about 1 in 30 COVID-19 infections are being reported in India, a think tank suggests, boosting the country’s real number of infected people into the hundreds of millions from its official figure of just under 18 million.
Poland announced that it will ease some of its COVID-19 restrictions as cases across the country fall, allowing hotels, restaurants and shopping malls to reopen as well as allowing students to return to school in May.
Iceland announced a conditional four-step plan to lift all COVID-19 restrictions in June once 75% of the country has received at least one dose of a COVID-19 vaccine.
There has been “no sign” of coronavirus infection among 5,000 unvaccinated people who took part in an indoor trial concert last month in Barcelona, an effort to see how optimized ventilation, antigen tests and mask-wearing could create safe venues.
Scientists report a massive gap — equal to about what the U.S. emits annually — between the amount of carbon emissions that countries report and the amount that independent models say reaches the atmosphere.
Japan-based Mitsui Chemicals will begin work on a resource circulation platform that uses blockchain technology to ensure the traceability of materials through the life cycle of a product.
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.
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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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