Oil futures were lower in mid-day trading today, with the WTI down 1.3% at $62.55/bbl and Brent 0.9% lower at $66.46/bbl. Natural gas was 0.9% lower at $2.73/MMBtu.
India is laying the groundwork for building many new coal-fired power plants, shunning increased global focus on environmental impacts of the fuel.
Texas, center of the U.S. oil industry, now leads the nation in renewable energy, which is driving a green jobs boom in the state.
Amazon is building its presence in the renewables industry, announcing nine new utility-scale projects, including a 350 MW wind farm off the coast of Scotland, making it the largest corporate buyer of renewable energy.
The International Energy Agency projects that global carbon emissions will increase 4.8% this year, the biggest increase since 2010, after falling during the pandemic.
Yesterday, Exxon proposed a $100 billion, publicly/privately financed project to capture carbon emissions from Gulf Coast petrochemicals plants and store them deep beneath the Gulf.
Forestry company SilviaTerra has established a Natural Capital Exchange where carbon emitters can buy carbon credits by paying Southern pine growers not to harvest trees.
Our most recent list of force majeure and allocation announcements from suppliers is here.
Supply Chain
The strongest typhoon ever recorded for the month of April touched down in the Philippines yesterday, prompting the evacuation of more than 100,000 people from coastal areas.
Imported TEUs grew by almost 51% year over year across the U.S. in March, typically an off-peak season, led by higher imports from China and Vietnam.
The United Nations is pushing regulators to scrutinize a prolonged period of record freight rates and poor on-time performance, along with demanding that governments clamp down on liner attempts to coerce market conditions.
Global port bottlenecks and delays caused by the week-long blockage of the Suez Canal could end in early June in Europe, analyst firm Sea-Intelligence predicts.
China, a ray of hope for the rebounding auto industry, is facing production cuts from its biggest automaker due to continued effects of the global semiconductor chip shortage.
Building new semiconductor chip capacity could take years, while shorter-term fixes, including manufacturing changes and opening up spare capacity, are not expected to aid the world’s current chip shortage until next year at the earliest.
An index for freight market conditions in March posted an annual gain of 10% and a monthly gain of 4.1%, indicating favorable inventory levels and consumer trends.
Signs point to a “super-cycle” for the dry bulk market with demand increasing by up to 10.1% this year.
A global supply chain logjam has hit AGCO, one of the world’s largest farm machinery makers, just as farmer demand heats up amid rising grain prices and a nascent planting season in the Northern Hemisphere.
Harley-Davidson, one of the highest-profile casualties of recent U.S. trade disputes, is now facing an import tariff of 56% on products going to the EU.
Foxconn, the world’s largest electronics manufacturer, finally inked a scaled-back deal to start mass production at a Wisconsin plant mired in years of delay.
Canadian National Railway announced a $30 billion bid to acquire Kansas City Southern, a 21% premium over Canadian Pacific’s recent offer to acquire the company.
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.
Markets
There were 67,933 new COVID-19 cases and 477 deaths in the U.S. yesterday. Over 211 million vaccine doses have been administered, with 23.7% of the population fully vaccinated.
Average daily COVID-19 cases are increasing in 36 states this week, with the national infection rate rising to 21.2 per 100,000 people from 19.8 last week. Young people who have not been vaccinated make up an increasing portion of infections, as more virulent variants accelerate the spread.
Americans can now buy at-home, over the counter COVID-19 testing kits for under $25. The device made by Abbott Laboratories has been distributed to retailers across the country, including CVS, Walgreens and Walmart.
Women are outpacing men in getting vaccines, with 54.3% of eligible women in the U.S. receiving shots versus just 45.7% of eligible men.
The CDC is investigating a few additional cases of severe adverse reactions possibly linked to the Johnson & Johnson COVID-19 vaccine.
U.S. regulators ordered Emergent BioSolutions to stop producing Johnson & Johnson COVID-19 vaccines at a Baltimore facility where 15 million doses recently had to be discarded over a manufacturing issue.
The State Department warned people against international travel and said it will soon issue Level 4 “do not travel” classifications for 80% of the world’s nations.
Hunkered down at home, a significantly higher percentage of Americans are suffering injuries related to renovation projects, yard work and moving.
As demand picks up, United Airlines is adding flights to European destinations starting in July, while also requiring passengers to show COVID-19 testing and vaccine documents.
The four biggest U.S. banks used an unprecedented 15% gain in deposits last year primarily to increase their cash reserves and securities holdings rather than for funding new loans.
Procter & Gamble will raise prices on a variety of consumer goods in the fall due to rising raw material and logistics costs.
Facing heightened stakeholder pressure, Toyota shifted its climate stance, announcing a review of its lobbying and greater transparency on company-wide environmental goals. The company also set plans to produce 15 new electric vehicle models globally by 2025.
International
India posted a record 273,810 new COVID-19 cases on Monday, as officials opened the nation’s vaccine eligibility to everyone over age 18. New Delhi, the nation’s capital, is under a strict six-day lockdown, while vaccine manufacturer Bharat Biotech will increase its annual production of its COVID-19 shot to 700 million doses.
Britain is banning most travel from India after detecting more than 100 cases of a “double-mutation” variant first identified in the country.
Confirmed COVID-19 deaths in Mexico surpassed 210,000, the third highest in the world behind the U.S. and Brazil, while officials say the real number could be 60% higher.
The Netherlands, experiencing its highest COVID-19 infection and hospitalization rates since January, will begin lifting lockdown measures next week under intense public pressure.
Schools in Buenos Aires, Argentina’s capital, will open despite a federal order requiring two weeks of remote learning due to a surge in COVID-19.
American Airlines is cutting flights to several South American destinations following declining demand amid a surge of COVID-19 cases in the region.
Japan is prepping to declare a third state of emergency in Tokyo and Osaka due to rising COVID-19 cases, raising doubt about the 2021 Summer Olympic Games.
COVID-19 infections in Thailand dropped to 1,390 on Monday, a positive sign after a run of record daily highs.
After experiencing the world’s worst COVID-19 surge per capita, Portugal is gradually coming close to fully reopening its economy.
Israel, the U.K. and Chile have been leaders in inoculating the bulk of their populations, but with starkly different results…
Following the success of its vaccination drives, Israel and Britain are exploring opening a “green travel corridor” to allow business and tourism between the two countries.
On Monday, Greece began letting in tourists from the EU, the U.S., Britain and other countries, with a formal tourism opening set for May 14.
As vaccine production ramps up across the EU, the bloc plans to have enough vaccine doses to cover 70% of its adult population by the end of the summer.
Frustrated with the pace of COVID-19 vaccine rollouts in the EU, Austria made the decision to only use Russia’s Sputnik V shot once it is approved by regulators.
After months of stalled COVID-19 vaccine rollouts, Australia expanded eligibility to those over age 50.
People who have had COVID-19 will be purposely reinfected with the virus as part of a British “challenge trial” examining immune responses.
In a reversal, China announced it will allow travel entry to those who have received COVID-19 vaccines from the U.S. after previously stating it would only allow entry to those who received Chinese vaccines.
China’s total population could begin falling in the next few years, spurred by a significant drop in newborns during the pandemic and an established policy limiting families to two children.
Profits at China’s state-owned enterprises tripled in the first quarter of 2021 to an all-time high for the period, a sign of strong economic recovery.
Japan’s economy showed signs of a quickened rebound with exports rising 16.1% in March from the year-ago period, led by a surge in China-bound shipments.
Brazil’s economy picked up steam just before a record-setting second wave of COVID-19, with a leading GDP index rising 1.7% in February, its 10th consecutive monthly rise.
Canada’s hot housing market is showing no signs of slowing, with housing starts rising 21.6% in March compared to the previous month, a record.
British economic activity is picking up, with an 87.8% jump in traffic at stores last week following the reopening of non-essential businesses. More than half of job losses in the country during the pandemic have been among those under 25 years of age.
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.
Thank you,
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.
We and selected third-parties use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL third-party cookies. For more details about cookies and how we use them, read the full Data Privacy Policy.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience. For more details about cookies and how we use them, read the full Data Privacy Policy.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-advertisement
1 year
Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category .
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Cookie
Duration
Description
__cf_bm
30 minutes
This cookie, set by Cloudflare, is used to support Cloudflare Bot Management.
bcookie
1 year
LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID.
bscookie
1 year
LinkedIn sets this cookie to store performed actions on the website.
lang
session
LinkedIn sets this cookie to remember a user's language setting.
lidc
1 day
LinkedIn sets the lidc cookie to facilitate data center selection.
UserMatchHistory
1 month
LinkedIn sets this cookie for LinkedIn Ads ID syncing.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Cookie
Duration
Description
_ga
2 years
The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
_ga_S6SF7JZ2WY
2 years
This cookie is installed by Google Analytics.
_gat_UA-7828007-1
1 minute
A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. The pattern element in the name contains the unique identity number of the account or website it relates to.
_gcl_au
3 months
Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services.
_gid
1 day
Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
CONSENT
2 years
YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data.
vuid
2 years
Vimeo installs this cookie to collect tracking information by setting a unique ID to embed videos to the website.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Cookie
Duration
Description
_fbp
3 months
This cookie is set by Facebook to display advertisements when either on Facebook or on a digital platform powered by Facebook advertising, after visiting the website.
fr
3 months
Facebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin.
IDE
1 year 24 days
Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads and according to the user profile.
personalization_id
2 years
Twitter sets this cookie to integrate and share features for social media and also store information about how the user uses the website, for tracking and targeting.
test_cookie
15 minutes
The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies.
VISITOR_INFO1_LIVE
5 months 27 days
A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface.
YSC
session
YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages.
yt-remote-connected-devices
never
YouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt-remote-device-id
never
YouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt.innertube::nextId
never
This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.
yt.innertube::requests
never
This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.