COVID-19 Bulletin: November 11

November 11, 2020 • Posted in News

Good Afternoon,

More news relevant to the plastics industry:

Some sources linked are subscription services.

Supply

  • A larger-than-expected draw from crude inventories last week helped push crude prices to two-month highs yesterday.
  • Energy prices were higher in early trading today, with the WTI up 2.8% at $42.52/bbl, Brent up 2.8% at $44.81/bbl, and natural gas 0.1% higher at $2.95/MMBtu.
  • BP is stepping up efforts to produce hydrogen using renewable energy, announcing a partnership with Danish power company Ørsted to use energy from a North Sea wind farm.
  • Peabody Energy suffered a 29% drop in volume in its latest quarter and is taking several cost-cutting measures as it grapples to renegotiate loan agreements.
  • The International Energy Agency said renewed lockdowns in Europe could push down oil demand again, though not as severely as the first round of lockdowns in spring. The agency also reported record levels of new electricity generation from renewable energy sources in 2020.
  • Occidental became the first U.S. oil company to announce a net-zero emissions goal, targeting 2040 to achieve the milestone for its operation and consumer use of its products.

Supply Chain

  • Countries may be forced to invest in greater cold-chain infrastructure to support distribution of Pfizer’s experimental vaccine, which requires two doses, must be stored at -70°C, and goes bad only five days after thawing.
  • Full Truck Alliance, a Chinese company that connects businesses with truck drivers in an “Uber-like” service, will go public next year, the latest of dozens of Chinese logistics and electrical vehicle startups to list on public stock markets.
  • Autonomous-vehicle delivery startup Nuro raised $500 million in its latest round of funding, one of many new firms looking to commercialize the emerging technology.
  • Car sales in China rose 8% in October from a year earlier, the fourth straight month of growth and a sign of the market’s significance for global automakers during the pandemic, when Western markets remain hampered by lockdowns and surging COVID-19 infections.
  • Uber’s delivery arm could soon become one of the world’s largest grocers, with the company on track to facilitate more than $1 billion in grocery sales per year.
  • With tight freight capacity nationwide and supply constraints with many plastic resins, clients are advised to provide expanded lead times on orders to help ensure delivery dates. 

Markets

International

Our Operations

  • Craig Shell from our Wire & Cable team delivered a product presentation on cable tapes and gels at the recent the IWCS International Cable & Connectivity Symposium. Click here to access this talk.
  • Greg Watkins, senior manager of talent acquisition and development at M. Holland, spoke at the recent MAPP Benchmarking and Best Practices Conference on recruiting the next generation of talent in a post-pandemic world. Click here to view this presentation.
  • 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.
  • To access 3D Printing training, order parts and seek technical assistance, visit our online resource.

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.

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