supply chains News

Ships Diverted to Tripoli to Keep Lebanon Supply Lines Running After Beirut Port Blast

Leading container lines are diverting ships to Lebanon’s smaller terminal of Tripoli after the devastating explosion at Beirut’s port that killed 145 people also paralyzed vital trade. Lebanon, which imports almost all it uses, relies on container ships to bring …

Coronavirus May Force Companies to Rethink Global Supply Chains: OECD Economist

The upheaval from the coronavirus outbreak may be the final jolt that the world’s biggest companies need to reevaluate how they operate in a globalized economy, the OECD’s chief economist Laurence Boone said. The sprawling, continent-crossing supply chains of corporations …

FACTBOX: China Takes Steps to Bolster Coronavirus-Hit Economy

Chinese policymakers have implemented a raft of measures to support an economy jolted by a coronavirus outbreak that is expected to have a devastating impact on first-quarter growth. The People’s Bank of China (PBOC) is attempting to restore investor confidence, …

12 Chinese Insurers Co-Launch Coverage for Businesses Hit by Coronavirus

China’s southern province of Hainan has launched the first specially designed insurance product to cover losses incurred by businesses as a result of the coronavirus outbreak in the country, the banking and insurance regulator said. The scheme has set aside …

Cyber Attack on Asia-Pacific Ports Could Cost $110B, Hitting Global Supply Chains

A single cyber attack that affects major ports across Asia-Pacific could cost $110 billion, which is roughly equivalent to half of all losses from natural catastrophes globally in 2018*, according to research from Lloyd’s of London. These losses could occur …

Norsk Hydro Unit Begins Operating at 50% of Capacity After Cyber Attack

Norsk Hydro, one of the world’s largest aluminum producers, said a key unit is operating at only 50 percent of capacity following a cyber attack on the company this week. “Extruded Solutions is working hard to enable further restarts during …

Norsk Hydro Using Backup Servers to Restore Systems After Ransomware Attack

Norsk Hydro, one of the world’s largest aluminum producers, has made some progress restoring operations but is not yet back to normal after it was hit by a ransomware cyber attack, the company said on Wednesday. After the attack late …

Norsk Hydro Cyber Attack Exposes Risks of Global Supply Chain Disruptions

The ransomware attack crippling one of the world’s top aluminum makers is exposing how crucial sophisticated digital systems have become in the centuries-old industry of turning mined rock into metal products. Following a “severe” cyber-attack on Norsk Hydro ASA’s operations …

UK Companies Prepare for Disorderly Brexit and Supply Chain Disruptions

British companies selling everything from washing machines to flights, food and mortgages plan to spend tens of millions of pounds in case the political brinkmanship gripping the country leads to a disorderly Brexit. With barely four months until the world’s …

Derailment of BHP Iron Ore Train Exposes Australia’s Reliance on Private Railways

A network of private railroads more than three times the length of the New York subway system is the key lifeline for Australia’s A$61.3 billion ($44.5 billion) iron ore export industry. So when there’s a derailment in the biggest shipper …