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Supply
Chain by the Numbers |
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- Feb. 24, 2012
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Smucker's Pricing Push Doesn't Stick; China Workers Staying Down on the Farm; Maersk Decides It has Emough Mega-Ships Coming; Oil Prices - Of Course
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600,000 |
The number of migrant workers in China's Hubei Province said to be "missing" right now, meaning they have not returned to work in the factories from going back to their rural homes for two weeks to celebrate the country's Spring Festival. Other provinces are reporting similar issues. A New York Times article says that now not only rising labor costs are an issue for China, as has been well reported, but labor shortages as well, which means wages have to rise even higher to lure them back.
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Amount of container TEU capacity that ocean shipping giant Maersk as expected backed off of this week, declined an option to acquire 10 more of the giant Triple E-Ships that each will hold 18,000 from Korean shipbuilder Daewoo. That in the face of continued and substantial overcapacity in the industry. Still, it has 20 of the giant ships on the way, even as Maersk said last week it is reducing capacity on Asia to Europe routes by 9%.
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