COVID-19 Bulletin: January 28

January 28, 2022 • Posted in COVID-19, Daily Bulletin

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Supply

Supply Chain

  • A severe winter storm is expected to sweep across parts of the U.S. East Coast this weekend and could develop into a major nor’easter with the potential to drop more than a foot of snow in some places, forecasters say. 
  • The average spot rate per 40-foot container from Shanghai to Los Angeles rose to $11,197 for the week ending Jan. 20, up 6.4% from the first week of the year and 168% higher than the same time a year ago. 
  • The backlog of container ships at South Carolina’s Port of Charleston could take six weeks to clear, port officials say. 
  • In the largest disaster mobilization in its history, the U.S. Postal Service has added thousands of temporary employees and converted more than 40 facilities to deliver the 500 million COVID-19 test kits promised to citizens by the White House. 
  • The U.S. Transportation Department is increasing funding for highway safety in a bid to reduce fatalities from heavy-duty truck crashes. 
  • U.S. truck shipments declined in the fourth quarter due to restrained capacity, a U.S. Bank report said. 
  • J.B. Hunt said it would boost investments in rail equipment as intermodal was the source of some of the firm’s worst congestion last year. 
  • Britain’s critical shortage of truck drivers is easing, U.K. logistics firms report.
  • Eastern European factories are withering under high energy bills, which have more than doubled in the past year in some cases.
  • United Airlines became the first U.S. carrier to open its own flight school, with plans to train 500 new pilots a year as the industry faces a severe pilot shortage caused by the pandemic, with a projected 12,000-pilot shortfall by next year.  
  • Taiwan-based China Airlines is ordering 10 more Boeing freighters on surging export demand. 
  • Texas-based parcel deliverer Lone Star Overnight plans to expand into the Chicago-Milwaukee area by next year. 
  • Procter & Gamble and snack food maker Mondelez are set to further raise product prices due to higher input costs.
  • PPG Industries has diversified resin sourcing and saw a 30% jump in raw material costs year-over-year in the fourth quarter, as some facilities experienced 40% absenteeism due to COVID-19 call offs. 
  • Supply chain snarls forced Tesla to delay its long-awaited “Cybertruck” until at least 2023, the company said. 
  • Supply snags will keep private-jet-maker Textron’s revenues down this year despite soaring demand for business flying, the manufacturer said. 
  • FedEx is expanding a partnership with Microsoft to improve supply chain visibility and logistics tracking products for businesses. 
  • Maersk is releasing the full spectrum of its historical weather data in a bid to help researchers study the effects of climate change. 
  • Maritime shipping emissions rose 4.9% last year on rising trade activity.

Domestic Markets

Death rates from coronavirus (COVID-19) in the United States as of January 27, 2022, by state
Microsoft Still Most Reliant on Server & Office Products
Meat Substitutes Still a Tiny Sliver of U.S. Meat Market

International Markets

  • More than 8 million COVID-19 cases were reported in the Americas last week, 32% higher than the prior week, crushing the previous record.  
The Omicron Surge
Vaccine Inequality Persists
  • More than 102,000 U.K. businesses shut down last quarter, 14% more than a year ago as the COVID-19 Omicron variant delivered an outsize impact on small firms. 
  • Germany risks falling into its second recession of the pandemic after the government reported a disappointing 0.7% GDP shrink last quarter. 
  • Turkey’s inflation rate could surpass 23% this year as the nation’s monetary crisis worsens, economists say. 
  • Already America’s second-biggest employer, Amazon has invested nearly $90 billion in Europe and the U.K. since 2010, revitalizing small towns where it builds facilities as it prepares for even more expansion. 
  • British car output fell 6.7% to 860,000 units last year, the lowest since 1956. 
  • Hyundai predicts vehicle production will rebound in the first half of this year on improved computer chip inventories.

At M. Holland

  • Our Healthcare team has published a revised Medical Resin Selector Guide containing additional resins, new focus grades and new 3D printing resins.
  • 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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