COVID-19 Bulletin: September 18

September 18, 2020 • Posted in News

Good Afternoon,

More news relevant to the plastics industry:

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Supply

Supply Chain

  • Hurricane Teddy strengthened to a Category 4 storm in the Atlantic and could strike New England next week. Separately, a tropical depression in the Gulf of Mexico could become the next named storm.
  • It appears that downed power lines sparked a number of the massive fires still burning in Oregon, posing liability risk to local utilities.
  • Smoke from wildfires can amplify the effects of COVID-19, posing a second layer of risk to firefighters and citizens in the West and Northwest.
  • Twenty percent of the world’s 1.6 million seafarers remain stranded on vessels, some for more than a year, with many facing labor violations that threaten their safety and global supply chains.  
  • Rail volumes were down 9.9% year over year last week.
  • UPS plans to trim its non-operating executive management with buyout offers as it recruits 100,000 seasonal workers for the holiday season.
  • TerraCycle’s Loop reusable/refillable packaging platform is expanding to 48 states. The company has signed up more than 100,000 customers and features 80 brands.
  • Trucking capacity remains tight throughout the U.S., and spot pricing remains elevated.
  • Clients are advised to provide expanded lead times on orders to help ensure delivery dates will be met.

Markets

  • COVID-19 infections rose to 44,360 yesterday from 38,410 the day before. There were 870 deaths, compared with 1,014 reported on Wednesday.
  • COVID-19 infection rates are trending higher in 38 states this week; there were 31 trending higher as of Wednesday.
  • New studies from the CDC indicate pregnant women who contract COVID-19 are at greater risk of premature and still births.
  • A shortage of teachers forced New York City to delay for the second time the reopening of schools, which were scheduled to resume on-site instruction on Monday.
  • A poll in American cities indicates 1 in 5 households have missed needed healthcare because of fear of COVID-19, backlogs at medical facilities or other pandemic-related reasons.
  • The nation’s current account deficit jumped a higher-than-expected 53% in the second quarter to over $170 billion, the highest level in 12 years, as the fall in exports of goods and services more than offset a decline in imports.
  • After digesting Federal Reserve statements after its monthly meeting on Wednesday, global equity markets sank yesterday on disappointment that the central bank announced no plans for further quantitative easing to stimulate the economy.
  • The Federal Reserve plans another round of stress tests for major banks to gauge their ability to survive a second coronavirus event.
  • The White House announced $13 billion in federal aid to farmers to counter the impact of the pandemic.
  • The pandemic has had an asymmetrical impact on consumer markets: 
Clothing Stores Fall Behind in Uneven Retail Recovery

International

Our Operations

  • To access 3D Printing training, order parts and seek technical assistance, visit our new online resource.
  • 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.

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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