Supply Chain Logistics & News 11/18//2024- 11/21/2024
Here is the Supply Chain & Logistics News for November 18th – 21st. Between tariffs, oil imports, geopolitics, and a new US administration, 2025 is gearing up to be a tumultuous year for the global supply chain. As cabinet appointees are being selected, the future of the US supply chain and the relationships that create the network may be at stake. Companies across the states are gearing up for what’s in the range of possibility. Now more than ever, supply chain content and viable news sources are becoming increasingly important. As the inauguration inches closer, stay vigilant and abreast of the news as it happens. Expect continuous and reliable news to come every Friday in this roundup.
Now let’s get to the Supply Chain and Logistics News for the week:
YMX Logistics and Orange EV Join Forces to Deliver Low-carbon Transportation Solutions
YMX Logistics, a leader in integrated yard logistics operations, and Orange EV, a pioneer in electric yard truck manufacturing, have joined forces to advance sustainable yard operations. The collaboration begins with the deployment of 20 electric terminal trucks at distribution and manufacturing sites across North America. This partnership leverages YMX’s expertise in yard process optimization and Orange EV’s cutting-edge electric equipment to help shippers reduce emissions, lower operational costs, and improve productivity. CEOs Matt Yearling of YMX and Wayne Mathisen of Orange EV highlight the initiative’s dual focus on environmental sustainability and operational efficiency, emphasizing benefits like reduced carbon footprints, improved worker health, and enhanced facility performance across industries such as manufacturing and distribution.
Trump selects former Wisconsin Rep. Sean Duffy to be Transportation Secretary
President-elect Donald Trump has nominated former Wisconsin Rep. Sean Duffy as transportation secretary, continuing to draw from media and political allies for his Cabinet picks. Duffy, a former reality TV star and Fox Business co-host, served in Congress for nearly nine years, focusing on financial services and housing issues. If confirmed, he would lead the Transportation Department during a pivotal period of innovation and transition, with challenges including autonomous vehicles, electric vehicle safety, and air traffic control shortages. Trump praised Duffy’s Congressional experience and pledged to focus on infrastructure improvements that emphasize safety, efficiency, and competitiveness.
US October Gasoline Imports Hits Post-Pandemic Low
U.S. waterborne gasoline imports fell in October to their lowest level since the COVID-19 pandemic, driven by weak domestic demand, high local production, and poor arbitrage economics for European and Asian refiners. European shipments to the U.S. Northeast hit a record low, while Asian imports halved year-on-year as regional demand surged due to refinery outages in the Middle East and Southeast Asia. Despite U.S. gasoline stock levels being below the five-year average, domestic flows, including record-high Gulf Coast-to-East Coast shipments, reduced reliance on imports. Globally, crude prices and refiner margins remain under pressure due to weak demand and the rise of electric vehicles, though upcoming seasonal demand and easing European supply constraints could influence recovery.
Northvolt, European EV Battery Supplier Files for Chapter 11 Bankruptcy
Northvolt, a leading European electric vehicle (EV) battery manufacturer, has filed for Chapter 11 bankruptcy in the U.S., citing production issues, slower-than-expected EV demand, and intensified competition from dominant Chinese rivals like CATL. Despite securing $245 million in restructuring support, including $100 million from Swedish truck maker Scania, Northvolt’s financial challenges reflect broader hurdles in Europe’s bid to reduce reliance on Chinese battery suppliers. The company aims to emerge from bankruptcy by early 2025, but its struggles highlight the difficulty of scaling advanced battery production and the region’s need for significant funding and strategic alignment to bolster its EV ecosystem.
Trump Selects North Dakotas Governor Burgum to Run Interior
North Dakota Governor Doug Burgum’s “all-of-the-above” energy strategy seeks to balance traditional fossil fuels with renewable energy innovation, aiming for carbon neutrality by 2030 through technologies like carbon capture and biofuels. While coal remains the state’s dominant energy source (55%), wind power accounts for 36%, making North Dakota a leader in wind energy and electricity exports. Burgum emphasizes innovation over-regulation to maintain energy independence, advocating for investment across energy sectors. However, his continued focus on fossil fuels draws criticism from groups like the Union of Concerned Scientists, who argue for a faster transition to renewables. Meanwhile, federal policies under the Biden administration aggressively expand renewable projects on public lands, contrasting with Burgum’s approach to preserving fossil fuel roles.
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