The need to know from Reuters’ global network of journalists Germany's struggle to clean up its supply chains has lessons for Europe German engineering company BAUCH makes machines and engine components out of materials mined in China, Africa or South America that pass through multiple hands and processes before they reach its factories in southern Germany and China. PolicyWatch: Billions of dollars of materials being squandered in e-waste mountain, says U.N. When Ruediger Kuehr started asking municipalities in his home country of Germany what they would do when the hundreds of thousands of e ..read more

The need to know from Reuters’ global network of journalists EU parliament approves new business supply chain audit law The European Parliament voted on Wednesday for a new law that will require larger companies operating in the bloc to check if their supply chains use forced labour or cause environmental damage and act to take action if they do. Shipping industry urges UN to protect vessels after Iran seizure Merchant ships and seafarers are increasingly in peril at sea as attacks escalate in the Middle East and the United Nations must do more to protect supply chains, the industry said in a ..read more

Investment into increasing supply chain visibility will be the number one priority in the next 12 months to mitigate rising costs, according to a survey commissioned by BDO USA. Of the 100 US-based manufacturing company CFOs asked, 45 will increase visibility in order to improve their ability to manage inventory and demand. Behind this, 40 of the 100 CFOs surveyed said they would be expanding their distribution footprint and 37 would be looking for alternative suppliers in order to deal with increased risks of disruption. A major risk perceived by CFOs is climate change, with 44 citing higher ..read more

The need to know from Reuters’ global network of journalists US manufacturing output increases in March; February data revised higher Production at U.S. factories increased solidly in March as output at motor vehicle assembly plants and elsewhere rose, suggesting that manufacturing was turning the corner after being constrained by higher borrowing costs. US business inventories pick up in February U.S. business inventories rose in February amid strong gains at retailers and wholesalers, suggesting that inventory investment could contribute to economic growth in the first quarter. China's econ ..read more

The need to know from Reuters’ global network of journalists Global trade to recover steadily after rare fall in 2023, WTO says Global goods trade should rebound this year, but more slowly than previously expected, after only its third decline in 30 years in 2023, the World Trade Organization said on Wednesday. US will not accept Chinese imports decimating new industries, Yellen says U.S. Treasury Secretary Janet Yellen warned China on Monday that Washington will not accept new industries being decimated by Chinese imports, as she wrapped up four days of meetings to press her case for Beijing ..read more

The need to know from Reuters’ global network of journalists Baltimore shipping set to resume by end of April with full capacity by end of May The U.S. Army Corps of Engineers said Thursday it expects to open a new channel to the Port of Baltimore by the end of April, freeing up commercial shipping blocked by a collapsed bridge, and then restore port access to full capacity by the end of May. Trapped vessels start moving out of Baltimore after bridge collapse The Port of Baltimore opened a temporary channel on Monday, freeing some tugs and barges that had been trapped by last week's bridge co ..read more

The need to know from Reuters’ global network of journalists Baltimore bridge collapse to cause logistics headaches, not supply chain crisis The catastrophic bridge collapse that closed the Port of Baltimore to ship traffic on Tuesday is causing some logistics headaches, but is unlikely to trigger a major new U.S. supply chain crisis as competing East Coast ports are poised to handle more cargo, economists and logistics experts say. Companies react to Baltimore bridge collapse A major bridge collapsed on Tuesday in the U.S. port of Baltimore after being struck by a container ship, plunging ca ..read more

The impact of the 10,000- Twenty-foot Equivalent Unit (TEU) container ship Dali into the Francis Scott Key Bridge after a loss of power onboard the vessel has both closed the I-695 highway and the Port of Baltimore. Reopening the port is likely to be a tricky operation and so supply chains need to plan around this latest disruption in what is one of the US’ major ports, particularly in several specialised areas. In light of this incident, we cover the critical numbers supply chains need to know: Baltimore is within the top 20 ports in the US by weight of cargo moved and was the ninth biggest ..read more

The need to know from Reuters’ global network of journalists Somali pirates return, adding to global shipping crisis As a speed boat carrying more than a dozen Somali pirates bore down on their position in the western Indian Ocean, the crew of a Bangladeshi-owned bulk carrier sent out a distress signal and called an emergency hotline. India to prosecute 35 pirates who hijacked ship off Somalia, navy official says India will bring in and prosecute 35 Somali pirates its navy captured on a hijacked ship off Somalia, a navy official said, in a departure from its recent practice of rescuing vessel ..read more

The need to know from Reuters’ global network of journalists Container rates drop to unsustainable levels, Maersk CEO says The global container shipping market faces overcapacity in the coming years and the rates paid by customers have fallen to an unsustainable level, Maersk (MAERSKb.CO) CEO Vincent Clerc told the group's annual meeting of shareholders on Thursday. Hapag-Lloyd to seek cost cuts after net profit slump German container shipper Hapag-Lloyd (HLAG.DE) said on Thursday the global oversupply of container ships and a crisis in the Red Sea will force it to cut costs in 2024, adapting ..read more