Severe weather disruptions hit Malaysia and the Philippines, leaving a trail of destruction among nations most prone to natural disasters.
Typhoon Rai, a super typhoon before slamming into the Philippines on Thursday, left 208 dead along its path. More than 440,000 people were displaced, with about a million affected, Mark Timbal, spokesman of the National Disaster Risk Reduction and Management Council, said on Monday.
Τhe Ports of Long Beach and Los Angeles have decided to postpone the implementation of "Container Dwell Fee" for the sixth time, until 27 December.
While the ports of San Pedro Bay have seen a combined decline of 46% in ageing cargo on the docks since the fee was announced on 25 October, the executive directors of both ports explained that they will reassess fee implementation after monitoring data over the next week.
Europe is bracing for energy shortages this week as freezing weather is set to boost demand at a time supply just can’t keep up.
Temperatures are forecast to fall below zero degrees Celsius in several European capitals this week, straining electricity grids already coping with low wind speeds and severe nuclear outages in France. To make matters worse, Russia signaled it intends to keep natural gas flows through a major transit route to Germany limited on Monday after capping supplies over the weekend.
Port congestion is improving at the UK’s main port of Felixstowe although leading container ports in Europe and the US are still struggling according to data from project44.
The situation is somewhat improving at Felixstowe and Rotterdam in Northern Europe as well as at Savannah on the US East Coast although congestion is still particularly bad at the US port complex of Los Angeles/Long Beach, which accounts for 40% of US imports.
Supply chain disruptions continue to wreak havoc on everything from holiday gift shopping to rising prices for essential goods. Still, the future seems hazy, as factors like COVID-19 variants and climate change remain a constant disruptor.
Pandemic-related factory closures, national lockdowns, fluctuating demand and labor shortages have rattled supply chains and lead times across various industries, particularly those that rely on supply from China and other parts of East and Southeast Asia. With supply chain volatility continuing into the new year, many companies are making changes to prepare for future disruptions, leading to larger trends such as greater consolidation efforts, automation, sustainability initiatives and more.