An Arctic polar vortex is set to barrel down the Northern hemisphere. Colder winters in Asia and Europe means greater demand for natural gas, and recent vessel congestion at the Panama Canal means slower distribution, pushing up fuel costs.
The automotive industry shift to EV technology comes at a less-than-opportune time due to a global shortage in semiconductors—a consequence of chipmakers shifting to produce for consumer electronics while vehicle sales tumbled throughout much of 2020. Now, more and more automakers around the world are confirming of factory shutdowns and lowered output. But the trade-turned-tech conflict between China and the US has in turn amplified regional investment and government support in the electronics industry, and that means potential for economic recovery.
Boeing announces on January 11 that it will end production of its 747 series in 2022, delivering the last model to Atlas Air. Ocean carrier Wan Hai Lines launched a new express weekly service connecting Shanghai, Kaohsiung, and Ho Chi Minh City on January 12.