Shanghai’s port is opening June 1st - is the world ready?

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Good morning, it’s Sunday Funday!

Good news - Shanghai is back online. China’s strict COVID lockdown of the port since March is finally being relinquished (fingers crossed on June 1st) but some are worried that the supply chain problem due to the lockdowns are just beginning...

Check out today’s featured article from Maritime Executive for the near future of Shanghai’s port operations and what it means for the rest of the world. ☕️

Shanghai city transforming over time.

China Shanghai GIF via GIPHY


Water Cooler Topics

🧠 The labor shortage extends further than blue-collar jobs; the high-skill workforce has been depleting since 2020. Physicians, lawyers, and teachers have mass reports of burnout and mental health challenges in their industries. The society that relies on knowledge-based professions suffers now from the lack of these professionals in the workforce.

🚢 The West Coast ports in California are still moving record amounts of cargo regardless of supply chain hiccups. However, 22,000 West Coast port workers have expiring work contracts this summer and lingering labor shortages have ports scrambling. The ports of Los Angeles and Long Beach, which handle about 42% of East Asian container imports, are working to devise a plan that satisfies everyone.

🎮 Sony is predicting that its 2020 gaming console, the PS5, will likely not meet the demand for the second year in a row. Executive Deputy President and Chief Financial Officer of Sony, Hiroki Totoki, said in an earnings call that manufacturing is dealing with consistent supply chain issues. The company is working to modify its processes in order to manage the current manufacturing situation.


Supply chain risks have led to increased white-collar crime

The global supply chain issues that have arisen have brought with them an increased risk of compliance issues and corruption among businesses. Delays in shipments have companies resulting in bribery and other versions of white-collar crime.

This new risk environment for industries has many companies seeking assistance in how to deal with bribery demands.

Read more from JD Supra ▶


Rolls-Royce is extending its customer waiting list

Torsten Mueller-Oetvoes, CEO of parent company BMW AG, has advised that Rolls Royce Motor Cars Ltd. is facing supply chain issues that will bleed into their manufacturing processes. The 1 year + waiting list for its vehicles is already frustrating the wealthiest among us, and the list is predicted to extend past two years for some of its newer models.

Due to supply chain difficulties, some parts have been forced to be imported by air.

Read more from Bloomberg ▶


Quote of the Day:

White truck cab is parked below the camera with a person sitting in the passenger seat.

“Chase the vision, not the money, the money will end up following you.”

— Tony Hsieh, CEO of Zappos



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