Today's News - Operations, Supply Chain, and More
Providing up-to-date news on the developments in operations, supply chain, economy, and other sectors from around the globe.
- The Bill signed by President Barak Obama closes a loop hole in the Tariff Act of 1930. The bill which was signed on Wednesday 24 October, 2016 bars the import of goods produced by forced labor from entering the United States. (Reuters)
- US manufacturing PMI trend falls to October 2012 levels.
Key points:
- Manufacturing PMI signals weakest performance for over three years, and joint-lowest reading since the recovery began in late-2009
- February data signals renewed loss of momentum after encouraging start to 2016
- Fastest drop in factory gate prices since mid-2012 (Markit Economics)
- Container freight rates from China to northern European destinations fell 23-percent on the Shanghai Containerized Freight Index (SCFI) to US$332 per TEU and rates to the Mediterranean are down 24.4-percent to US$344 per TEU. A year ago these rates were $902 and $1355 per TEU from China to Europe and Mediterranean respectively. Excess capacity in the sea freight industry is cited for the drop in freight rates. (Lloyds Loading List)
- Dry-bulk shipping faces negative impact from the commodity slump. Companies that ship iron ore, coal and other bulk commodities a trying to weather the industry’s worst downturn in decades. (The Wall Street Journal)
- France PMI in February shows a contraction in its business activities. Weak demand in the consumer and business sectors is responsible for the result. (Reuters UK)
- Copper price slides, while Aluminum and Tin prices hit the highest level since October 2015 (Reuters)
- Global e-commerce logistics market will grow 9.69 percent by 2020. The report was prepared based on an in-depth market analysis with inputs from industry experts, covers the market landscape, its growth prospects over the coming years and includes a discussion of the key vendors operating within this market. (Business Wire)
- Third Party Logistics study performed by University of Tennessee's Global Supply Chain Institute in Knoxville highlights key risks in the management of Third Party Logistics (3PL). Executives interviewed mentioned that the biggest mistake made by executives in selecting a 3PL provider, was not doing a thorough needs assessment from the onset, leading to significant costs, and missed opportunities. The study also found that many bids for 3PL providers were made based on inaccurate data of company operations. (Global Supply Chain Institute, University of Tennessee)
- American trucking demand was down in the January 2016 according to the American Trucking Associations index. This seasonally-adjusted truck tonnage index slipped 1.4-percent from December 2015 levels. Industry executives say inventory levels and warm winter weather are responsible for the for the dip in demand. (The Wall Street Journal)
- The talk of a merger between United Technologies ($UTX) and Honeywell ($HON) has been abuzz in the stock markets. While United Technologies CEO Gregory Hayes doubts a merger would pass antitrust regulatory controls, Honeywell said that they did not see a the regulatory process as a hindrance to a merger between the two industrial conglomerates. (The New York Times)
- Ford Motor Company is the first automotive company to join the Electronic Industry Citizenship Coalition (EICC). By joining the coalition Ford demonstrates its commitment to respect human rights and improve basic working conditions at its global supplier facilities. (Business Wire)
- Mergers and acquisitions deals in the works from AstraZeneca, Foxconn, Sharp Company, Deutsche Telekom, and many more... (Reuters)