There’s been a surge in the U.S oil and petroleum exports as countries continue to explore a replacement for Russian supplies owing to the Ukrainian conflict. According to the U.S. Energy Information Administration, the U.S. crude and petroleum exports touched a weekly record of 10.6 million barrels a day during the last week. The country’s exports also outnumbered its imports by a record-breaking number since 1990.
The U.S. seems to have become the preferred energy supplier since the beginning of the Russian-Ukrainian conflict catering to crude, motor fuel and LNG needs of various countries. Latin American and European countries have been the major buyers of US petroleum products. This sudden surge in export volumes is also elevating fuel prices. Learn More.
Apple has taken control of the semiconductor chip supply chain, a crucial component of its products. The company has reported a surge in the sale of Mac computers after the company undertook the effort to build an advanced chip-design operations, thus replacing Intel processors with chips developed in-house. Apple’s M1 chips may reset parts of the microprocessor market while Tesla and Amazon are also keen on working on in-house silicon production to cater to advanced computing and business needs. Read More.
Production in the U.S. factories increased in March this year surpassing the forecasted amount by 0.9%. It showed a steady third month of gains for manufacturers in the nation. The Federal Reserve data revealed that the trends showed a 1.2% gain in February. Total industrial production including mining and utility output also rose 0.9% during the last month.
Manufacturing output increased at an annual rate of 5.4% in the first quarter while the total production grew an annualized 8.1%, the strongest since the end of 2020. While these upward movement signify that US based manufacturers are having more success filling open positions that will allow firms to make progress on backlogs. However, rising material costs continue to hinder the industrial recovery. Also Russia’s war in Ukraine and strict pandemic-related lockdowns in areas of China could lead to more disruptions in the coming days. Learn More.
Brindisi, an Italian city that was once known as the ‘door to the Orient’ for its critical role in ancient maritime trade is witnessing a chance to widen its potential to host growing numbers of RoRo shipments. The current shipping constraints is fueling this possibility for Brindisi and the European Union is ready to fund the development. The port city has received a hefty installment of 60 million Euros to start the work. The port could facilitate easy movement for cargoes from far away countries in the advent of current backlogs. Tito Vespasiani, Secretary General of the Southern Adriatic Sea Port Authority, stated that “This is a key way around the problem of containers and simplifies routes from as far as Azerbaijan to Greece, Egypt and Bulgaria.” Read More.
Ever Forward, the container ship that got stuck in the Chesapeake Bay, Maryland, for more than a month, has been finally freed on Sunday. The container ship ran aground the primary navigation corridor. After the completion of underwater inspections, the ship will travel to the Port of Baltimore and reload the cargo that was discharged when it got stuck to resume its previously scheduled voyage. Learn More.
China’s zero-Covid policy is threatening to multiply new supply chain disruptions globally. The trucking industry has been badly impacted by the strict restrictions disrupting operations in factories and port containers. The truck volumes moving through Shanghai reduced 70% this week compared to March end. The restrictions have also caused an uptick in the trucking costs. Yusen Logistics, a Japanese logistics service provider reported that it packed only 6% of its usual daily shipment volume from the Shanghai port last weekend. Lesser outbound cargo from Chinese ports may mean a breather for the already constrained US and European ports but in the long run the backlog of cargoes building up on the Chinese port could lead more disruption. Read More.
Tesla has been able to triple its output during the first two years of a pandemic, despite chip shortages and historic gridlock at sea ports. But as supply chain challenges continue catching up with them - ultimately halting rapid production growth. With Tesla’s supply chain struggles, the company reported a record $3.6 billion in operating profits with an impressive 19% margin. Kirkhorn said the company was able to raise profits despite falling vehicle production because the mix of cars Tesla sold in the first quarter skewed toward the more profitable Model Y. Read More.
SAP announced its financial results for the first quarter ended March 31, 2022.
“Customers powered another quarter of strong cloud growth as they turned to us for solutions to make their businesses more sustainable, their supply chains more resilient, and their enterprises more future-proof. Our signature ERP offering SAP S/4HANA grew at record levels demonstrating the confidence customers place in us to support their business transformations.” Christian Klein, CEO
The Business Women’s Network (BWN) at SAP is a global organization that connects members with the help of 15,000 female employees around the world. With more than 90 chapters in over 40 countries they empower woman to advance their careers and company success through connection within this supportive group which shares professional insights as well career-advancing opportunities for each other's benefit.
Descartes Systems Group (DSG), the global leader in uniting logistics-intensive businesses with commerce, announced that it has acquired Foxtrot; a leading provider of machine learning based mobile route execution solutions.
“Advances in artificial intelligence and machine learning are making it possible for us to leverage increasing amounts of ‘real world data’ to better inform our route planning and execution solutions. By combining with Foxtrot, we’re adding a team with deep domain expertise and proven technology that will help accelerate our efforts in this area.” said Ken Wood, EVP of Product Management at Descartes. Read More.