COVID-19 Bulletin: February 10

February 10, 2022 • Posted in COVID-19, Daily Bulletin

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Supply

Oil demand in India from 2013 to 2040 (in million barrels per day)
  • Japan’s biggest oil and gas explorer will invest up to $38 billion in growth the next nine years, about a quarter of which will go toward decarbonization areas such as hydrogen and ammonia. 
  • Some U.S. lawmakers are proposing a suspension of the federal gas tax in a bid to lower prices for consumers. 
  • France’s TotalEnergies will pay 100-euro vouchers to low-income households to help with rising energy bills. 
  • Greece plans to add to the $2 billion it has spent since last September in subsidizing customer electricity and gas bills. 
  • The Texas Railroad Commission approved $3.4 billion in financing for exorbitant energy prices racked up by customers during 2021’s Winter Storm Uri.
  • Norway will invite its first ever bids for offshore wind projects in the North Sea this year, with hopes to build at least 1.5 GWs of capacity by the end of the decade. 
  • British scientists claim to have produced a record amount of energy from a short nuclear fusion test, a potential advancement in harnessing the ultra-powerful energy source. 

Supply Chain

Container throughput at ports worldwide from 2012 to 2020 with a forecast for 2021 until 2024 (in million TEUs)

Domestic Markets

  • The U.S. reported 215,748 new COVID-19 infections and 3,435 virus fatalities Wednesday. The CDC predicts up to 61,000 more virus fatalities over the next month. 
  • Total U.S. COVID-19 hospitalizations fell below 100,000 for the first time in a month on Wednesday, a 38% drop from January’s peak. 
  • The CDC urged states to reconsider dropping mask mandates in schools as Massachusetts, Rhode Island and Nevada became the latest states to relax mask restrictions.
  • Norwegian Cruise Line will scrap an on-board mask requirement starting March 1. 
  • Alabama remains the lowest-vaccinated state in the nation, with fewer than 50% of its population fully vaccinated against COVID-19. 
  • The CDC is prepping states to receive COVID-19 vaccine doses for children between six months and 4-years-old by Feb. 21. 
  • First-time unemployment claims fell by 16,000 last week to 223,000, the third weekly decline. 
  • U.S. inflation jumped 7.5% year over year in January, more than economists expected and the highest rate since February 1982.
  • Some economists predict higher-than-expected inflation could prompt the Federal Reserve to raise interest rates by as much as 50 basis points next month, which would be the largest rate hike in more than two decades.
  • U.S. corporate bankruptcies have fallen to their lowest level in more than 15 years
  • Fourth-quarter revenue at CVS rose 10% to $76.6 billion on high demand for COVID-19 services. The firm’s stock slumped over 5% after it predicted falling demand for vaccinations and testing this year. 
  • AstraZeneca warned that sales and profits could decline due to lower sales of COVID-19 products.  
  • Toy maker Mattel reported better-than-expected quarterly results and expects sales to rise 10% this year, up from its previous view for a mid-single digit gain. 
  • Walt Disney crushed quarterly expectations on rebounding visits to its theme parks and higher-than-expected subscriber growth on its budding streaming service. 
  • Uber’s revenue climbed 83% in Q4 on a surge in ride-hailing activity and continued demand for food deliveries, with its total number of active customers rising to a record 118 million. 
  • Consumer goods giant Unilever reported a 4.9% gain in quarterly sales driven entirely by higher prices, as volumes remained flat. 
  • Hybrid and electric vehicles accounted for 11% of U.S. light-duty vehicle sales last quarter:
Electric vehicles and hybrids surpass 10% of U.S. light-duty vehicle sales

International Markets

At M. Holland

  • Plastics News reported that M. Holland earned a Bronze rating from EcoVadis, a trusted provider of business sustainability ratings. The article reports that our improved annual score for 2021 is due to progress in our diversity and inclusion program, wellness benefits, career development and more.
  • M. Holland’s 3D Printing group offers a rapid response alternative for producing selected parts where resin availability is tight. 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.

For all COVID-19 updates and notices, please refer to the M. Holland website.

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