Europe’s Reduced Reliance on Russian Energy Impacts Nord Stream 2 Plans
Sources have reported that Russia will be sealing the Nord pipelines, as there are no immediate plans to repair the pipes ruptured by unexplained detonations last fall, nor reactivate them. The pipelines will be mothballed, as to prevent corrosion from the Baltic Sea in case the streams will be reactivated in the future. Russia recently […]
Unprecedented Snowfall in California Affects Shipping of Commodities
Several logistic companies are warning suppliers and end-users to anticipate delays for any commodities that travel through the golden state to reach their destination. California is experiencing an unusually harsh winter – one normally expected in New England. The unprecedented amount of snowfall and stronger-than-average winds have caused significant damage to homes, businesses, and roads, […]
Global Petrochemical Prices Rise by 5.4% in February
The ICIS Petrochemical index, which tracks the average change in global petrochemical prices over time, increased by 5.4% month on month in February. Several factors can be attributed to the increase in prices across the board, but stronger feedstock costs seemed to be driving the increase. Of all the markets, the northeast Asian chemical market […]
Balloons Sparks Global Sourcing Conversations
The recent alleged ‘spy’ balloon from China shot down over the United States has led to several conversations in North America with regards to global supply chains. One specific dialogue is citing this incident as supporting evidence to diversify supply chains. Many trade associations, which have been arguing for the diversification of supply chains for […]
Calm Weather Impacting Gas Price Predictions
Weather conditions across the United States have remained fair and calm for the beginning of 2023. Most environmental reports show that January through February have been at their mildest since 2006. Because of this, there has been a significant reduction in the consumption of natural gas for heating purposes. These factors have caused many natural […]
