State of the Nation 02/08/2022

APL Vanda container ship has faced an unexpected incident in the Indian ocean, with schedule disruptions set to last three months.

It has been reported that an unknown number of containers onboard the ship have been lost on it's way to Djibouti on July 6. Casualty management firm WK Webster reported that at least 55 containers were lost overboard.

CMA CGM, the ship's operator, did not offer much more information - stating this was nothing more than an 'incident'.

Source: TheLoadStar

China, Russia Strengthen Ties- Replace USD With Gold - a new alliance between both nations will focus on a gold-backed trading standard. With gold backing both the rouble and the yuan, volatility will decrease in both currencies.

Recently the Russian Central Bank opened an overseas office in Beijing, strengthening economic ties between the two countries. With Russia being the fourth-largest gold producer in the world, this could have significant long-term effects on the global economy if the US dollar is put at risk. 

Source: NewsBTC

Analysis from market intelligence firm Cru Group shows the price of fiber has risen 70% over the last 18 months, The ongoing shortage can be attributed to a steep rise in demand to shortages of key ingredients in the manufacturing process, such as helium gas and silicon tetrachloride.

The silver lining, it seems, is that the shortage may only be temporary and this should limit the extent of the setbacks suffered.

Source: TechRadar