Germany’s largest energy group is pairing up with an Australian miner to ship 5 million tonnes of green hydrogen to Europe by the end of the decade. Rising prices for the fuel make it more feasible as a vehicle for weaning Europe off Russian gas:
Two major auto suppliers joined Tesla in suspending production in Shanghai during the city’s COVID-19 lockdown, with GM reportedly staying open by asking workers to sleep on factory floors. A growing number of airlines are canceling cargo service to the city, where inspections have been halted and roads to a main airfreight hub shut down.
The Pharr-Reynosa bridge between the U.S. and Mexico carried a record $150 million in goods each day last year, a 26% rise over 2020. Volumes could skyrocket after a second commercial bridge is built alongside the existing one.
North American trans-border freight values surpassed $113 billion in January, up 20.6% from the year before and 17.1% higher than in January 2020.
South Carolina’s Port of Charleston stopped forecasting when it will be able to clear a backlog of more than two dozen vessels.
Ocean Network Express plans to invest $20 billion to boost container shipping capacity by a third and acquire more terminals by 2030.
Businesses are focusing more on “fourth-party” risk management due to increasing rates of disruption caused further down the supply chain from their direct third-party providers.
More supply chain news related to the war in Europe:
Buyers seeking replacements for commodities that are restricted in Russia are increasingly looking at Canada, which shares similar climate and geographical features and produces many of the same commodities as Russia.
South Korea’s daily COVID-19 cases rose to over 420,000 yesterday, a sharp upturn from the previous five days.
More news related to the war in Europe:Ukrainian and Russian negotiators met in Turkey for the first face-to-face discussions in nearly three weeks, with Russia promising to reduce its military operations around Kyiv and northern Ukraine, while Ukraine proposed adoption of neutral status but with international guarantees it would be protected from attack.
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