Pirates seize chemical tanker off Gulf of Guinea
Good morning! As we approach the end of the week, we want to bring you the latest updates and insights on the world of supply chain management. Whether you're a seasoned supply chain professional or just getting started in the field, we hope you find our newsletter informative and useful. So sit back, grab your coffee, and let's dive into the world of supply chain! ☕️
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Modern-day pirates are criminals who engage in acts of piracy on the high seas, including robbery, hijacking, and kidnapping. They typically operate in areas such as the Indian Ocean, off the coast of Somalia, and the Gulf of Guinea, off the coast of West Africa. Approximately 540 miles off the Gulf of Guinea, a Danish ship was overtaken by pirates. An oil and chemical tanker was boarded by five armed individuals, and all 16 crew members found refuge in a safe room. Unfortunately, communication systems were completely down, and they were unable to provide details of the attack. Since 2021, the Gulf has experienced a surge in pirate attacks, resulting in increased naval and security efforts.
Check out today’s featured article from Marine Link to read more about modern pirates and what a group of them did to get take hold of the oil and chemical ship off the coast of Guinea. Will pirates become more dangerous and confident in the future?
Featured Article:
Ship Seized by Pirates Seen 540 Miles West from Gulf of Guinea Attack Point | Marine Link
“A Danish-owned vessel that was boarded by pirates in the Gulf of Guinea on Saturday was spotted about 540 miles further off shore on Tuesday, according to a maritime cooperation centre monitoring security in the area.”
Regulations & Compliance ✔️
Dollar general harbors over 100 OSHA violations
Dollar General is a discount store chain headquartered in Goodlettsville, Tennessee, United States. It was founded in 1939 by J.L. Turner and Cal Turner Sr. and currently operates over 17,000 stores in 46 states across the United States. Since January 2017, the Labor Department has found workplace safety issues in 111 out of 270 Dollar General stores. Some of the issues include boxes in aisles, blocked fire exits, and boxes stacked too high.
OSHA has ordered the stores to address these hazards; however, some stores have failed to comply in a timely fashion and have incurred fines of up to $15.5 million. Despite the significant penalties, this is just a small fraction of the company's annual revenue. OSHA is now in talks with Dollar General for a settlement amount for the fines and to collaborate in devising a plan to improve conditions in their stores.
Electric Vehicles & Labor Issues 🔋
Luxury electric vehicle company slashes 1,300 jobs
Lucid Motors, Inc. has recently announced that it will cut almost 18% of its entire workforce, despite the increasing demand for its EVs. This move is part of a restructuring plan to reduce costs and allocate more resources to its luxury sedan, the Lucid Air. Following the announcement, Lucid's shares fell almost 7% on Tuesday. However, the company reported that it ended the 2022 fiscal year with $4.4 billion in cash. Additionally, the company plans to manufacture 10,000 to 14,000 cars in 2023, which is lower than previously anticipated.
Lucid Motors, Inc. is an American electric vehicle company based in Newark, California. The company was founded in 2007 by Bernard Tse and Sam Weng, and is currently led by CEO Peter Rawlinson, who was previously the chief engineer of the Tesla Model S. Lucid Motors aims to produce luxury electric vehicles that combine performance, efficiency, and advanced technology. Their flagship vehicle, the Lucid Air, is a luxury electric sedan that has been praised for its range, speed, and design. The Lucid Air is expected to have a range of over 500 miles on a single charge, making it one of the longest-range electric vehicles on the market. In addition to producing electric vehicles, Lucid Motors is also involved in developing advanced battery technology and energy storage systems. The company has received significant investment from a range of sources, including the Public Investment Fund of Saudi Arabia, which has invested over $1 billion in the company.
Let’s Get Global 🌎
🏗️ Port of Savannah welcomes new hybrid yard cranes. The port authorities of Georgia recently invested $170 million in new hybrid-engine rubber cranes to redevelop the port. These 55 state-of-the-art cranes will produce up to 50% fewer emissions than their predecessors, thanks to their advanced technology. This innovative approach will save approximately 8,800 gallons of diesel fuel per year, reducing both costs and environmental impact. This shift to electric vehicles and equipment will help further reduce emissions and improve air quality in and around the port.
🛢️ Ship carrying Russian oil poses major risk. This 26-year-old oil tanker, which has been used to transport Russian oil, has not undergone an inspection since 2017. Despite calls for retirement, the vessel continues to operate in St. Petersburg, Russia. Many are concerned that the aging tanker poses a significant risk of sinking or causing a devastating oil spill in the ocean. Oil tankers should undergo regular inspections to ensure that they are in good working condition and are not at risk of causing accidents, which can have devastating environmental and economic consequences.
iLevel With You 🏡
More topics for the average American household to consider…
👩💻 Is remote work coming to an end? The CEOs of Meta and Disney are urging employees to return to in-person work, but many companies continue to offer remote work options. New data reveals that approximately 75% of businesses have reported having almost no workers still working remotely in 2022.
⚡️ The fear of running out of charge. When people purchase an electric car, one of their biggest concerns cited is that the charge will run out and leave them stranded. This anxiety-ridden thought is very real, but there are many ways to avoid it on long road trips.
📦 US parcel volume fell in 2022 after a large rise. According to a recent study, parcel volume has fallen by 2% in the last year, following a 6% rise in 2020. Despite the decline, revenue has not been significantly affected, and some US parcel businesses even increased their profit margins. It is believed that there will be a major rebound in volume increases in the upcoming years.
Get Smart 🧠
Ramp up that brain power for these advanced topics…
🥤 PepsiCo’s new AI barcode readers will be ready in 2023. The brand-new AI barcode readers come from a startup named KoiReader Technology, which released this new tech on March 15th. PepsiCo and KoiReader Technology are now teamed up to release an even larger deployment later this year.
📱 Parcel drivers must use personal phones for work. A new study has shown that over 48% of delivery drivers are required to use their own personal devices for work, and only 44% of those are compensated for it. Many workers are annoyed that there are functionality problems with the operation.
✈️ Air taxis will begin flights in 2025. Honeywell International has announced that the first electric aircraft, which will take off like a helicopter and fly like a regular plane, will start flying in 2025. These planes will be quieter, less expensive to maintain, and safer. It is estimated that the market for electric aircraft may grow to $1 trillion by 2040.
The Workday Dash is an aggregation of articles regarding the transportation logistics, trucking, and supply chain industries for November 28, 2024, from iLevel Logistics Inc.