More news relevant to the plastics industry:
Some sources linked are subscription services.
More oil news related to the war in Europe:
U.S. benchmark WTI rose 3.2% to settle at
$119.40/bbl yesterday after earlier surpassing $130/bbl. Brent rose 4.3% to close at $123.21/bbl. In mid-morning trading today, WTI futures were
up 7.4% at $128.30/bbl, Brent was up 7.1% at $131.90/bbl and U.S. natural gas was 4.0% lower at $4.64/MMBtu.
U.S. natural gas prices have
doubled over the past year, sending the typical household’s electricity payments skyrocketing. The recently announced merger of North Dakota shale rivals Oasis Petroleum and Whiting Petroleum will
form a company valued at $6 billion, executives say.
More supply chain news related to the war in Europe:
50,000 Russian and Ukrainian sailors are stuck waiting to be replaced at sea or at ports around the world as shipowners scramble to find replacement crews. Port workers from locations in the U.S., Canada and Australia are calling for
more bans on Russian ships, moves that could potentially blacklist over 1,700 vessels connected to the country. The World Container Index compiled by London-based Drewry has ticked down since the conflict started, with the largest rate drop measuring
5% on the Shanghai-Rotterdam route. Sanctions are prompting large American air cargo operators, including UPS and FedEx, to
completely avoid Russian airspace. The London Metal Exchange
suspended trading in its nickel market after prices for the metal surged as much as 250% from Monday to early Tuesday, briefly trading above $100,000 a ton before easing.
The index for inventory levels in the Logistics Managers’ Index rose 9.1 points to
80.2 in February, the highest level in the index’s five-year history. U.S. coal carloads rose
21.3% in February from the same time last year, the Association of American Railroads said. Container volumes at Germany’s Port of Hamburg rose
2.2% last year following a 7.9% decline in 2020. A
19-day sit-in at the headquarters of South Korea’s largest parcel delivery firm ended last week. Freight forwarder Kuehne+Nagel saw a threefold jump in fourth-quarter operating earnings to about
$1.2 billion, while revenue doubled to more than $6 billion. The chairman of the Federal Maritime Commission said he
does not see collusion among container lines amid soaring freight rates during the pandemic. Hapag-Lloyd and other shipping operators reported
attempted cyberattacks Monday. The ports of Seattle and Tacoma are the latest to join the
Northwest Seaport Alliance, a new data-sharing project spearheaded by the Port of Long Beach. Southern California pipeline operator Amplify Energy is
suing Mediterranean Shipping Co. and Cosco Shipping over alleged anchor drags that ruptured the firm’s pipeline last year. 48forty Solutions, North America’s largest pallet management firm,
expanded its network with the acquisition of rival Nazareth Pallet. The EPA unveiled tighter standards for engine makers to
lower nitrogen-oxide emissions from big rigs, cement mixers, trash trucks and other commercial vehicles starting in 2027.
The U.S. reported
67,516 new COVID-19 infections and 1,686 virus fatalities Monday. New COVID-19 cases in Los Angeles County are down over
60% the past two weeks. New York City
ended all mask mandates for school students yesterday. Puerto Rico, among the last U.S. holdouts with a mask mandate,
dropped the requirement Monday. Florida is
recommending healthy children not get COVID-19 vaccinations, putting the state at odds with widely accepted guidance from the CDC and health experts at home and abroad. A new study reveals that even
minor cases of COVID-19 can accelerate aging of the brain by up to a decade. The White House is asking lawmakers to approve another
$22.5 billion to purchase COVID-19 antibody treatments, with existing inventory set to run out by May. Wall Street saw its
largest drop in more than a year Monday as surging oil prices heightened inflationary pressures. Still, U.S. firms are on track for a record number of share buybacks in February, signaling optimism despite the market volatility. New York rent prices were up
33% in January from a year ago, nearly double the national rate. Survey results show more Americans believe their rents will rise sharply this year. Used car prices in the U.S. fell
2.1% in February, the first monthly decline since August. Gross bookings for Uber rides to and from airports were up
50% at the end of February compared to a month earlier, suggesting passenger plane travel is quickly picking up after Omicron. Intel’s self-driving car unit Mobileye is set to go public and could be valued as high as
$50 billion, traders say. Construction began on the
U.S.’s first major vessel devoted to offshore wind farm operations and maintenance. The U.S. will give
$2.2 billion in COVID-19 relief money to public transit agencies in 18 states, with another $1.5 billion released for purchases of low-emissions, U.S.-made buses.
At M. Holland
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.