Category: Trucking News

Russia Opening Giant Gas Link to China as Putin Pivots East

(Bloomberg) -- The world’s biggest natural gas exporter and one of the globe’s top consumers of the fuel cement their energy cooperation on Monday with the launch of Russia’s giant Power of Siberia pipeline to northern China.The 3,000-kilometer link, which has become a symbol of President Vladimir Putin’s pivot to the fast-growing economies of Asia as relations deteriorate with the West, begins shipping gas from Russia’s enormous reserves in its eastern regions to the border. It will then link up with China’s own network to supply the fuel as far as the eastern seaboard and help satisfy the nation’s vast and growing energy needs.Gazprom PJSC, Russia’s biggest gas producer, signed the $400 billion contract to supply as much as 38 billion cubic meters of gas annually for 30 years with China National Petroleum Corporation in 2014, after more than a decade of talks. It’s Gazprom’s biggest contract ever.Read More: How Russia-China...

Japan factory activity shrinks in November as export slump deepens – PMI

Japanese manufacturing activity contracted again in November, with export orders at their weakest in five months due to slowing foreign demand, including from China. The Jibun Bank Final Japan Manufacturing Purchasing Managers' Index (PMI) edged up to 48.9 on a seasonally adjusted basis, up a notch from last week's preliminary reading of 48.6 and compared to October's final reading of 48.4. Despite the slower pace of decline, the index stayed below the 50.0 threshold that separates contraction from expansion for a seventh month, marking the longest such run since a nine-month stretch from June 2012 to February 2013....

Many firms have no contingency plans should U.S.-China trade war worsen: DHL survey

As the U.S.-China trade war drags into its 16th month and continues to disrupt supply chains, more than one-quarter of multinational firms have not made contingency plans, showed a survey from a subsidiary of courier giant DHL. The survey https://www.resilience360.dhl.com/resilienceinsights/impact-of-the-u-s-china-trade-war-on-global-supply-chains by DHL Resilience360, a supply chain risk management software platform under Deutsche Post AG's courier unit, included 267 anonymous responses from supply chain executives across industries including healthcare, automotive and consumer. Over half of respondents were from companies with annual revenue of over 1 billion yuan ($142 million) and most were from the United States and European Union, the survey showed....