China Dominates The Rare Earth Minerals Supply
Rare earth minerals are an important component of many products we use every day, and the Chinese government has just approved a merger to form this “behemoth” corporation with enough power and influence over these vital resources to control the rare earth minerals supply chain.
China is anticipated to control up-to 85% of the world’s rare earth minerals supply. The new company will enforce stricter rules relating to production quantity as well as export volume for these strategically important materials that are used in many technologies today.
In March 2011, the price of neodymium and dysprosium skyrocketed. This occurred due to China restricting its exports which caused an epidemic-like effect on these materials’ markets as they are used in many different products.
MRI machines use this element in their magnets; motors rely on it for strength against corrosion, while welding masks need it as protection from arc burns.
Source: China to Create Rare Earth ‘Behemoth’ Company to ‘Stabilize Supply Chain’ (breitbart.com)
A Lego Set For Logistics?
A supply chain lego set? Anything is possible on Christmas. Thomas Geurts, a customs administrator with Arvato SCS in Venlo hopes that the company will create his dream of creating logistics and transportation for kids who love playing with this toy as much he does!
Source: All I want for Christmas is a Logistics Legoset – Supply Chain Management Review (scmr.com)
Good News For Chinese Seafarers
The 2022 version of the Chinese Seaman Collective Agreement has been agreed upon by China Shipowner’s Association and National Committee of the Chinese Seaman & Construction Workers Union. This new agreement includes improved employment benefits during the Covid-19 pandemic, including a 7% increase in base salary starting next year, as well as guidelines on guaranteed salaries, vacation time, and onboard living conditions.
Chinese seafarers’ basic salary to increase 7% from 2022 | Seatrade Maritime (seatrade-maritime.com)
Major Food Recall
Dole Fresh Vegetables Announces Voluntary Recall for Salads Processed at its Bessemer City, NC and Yuma, AZ Facilities Due to Possible Health Risk from Listeria monocytogenes.