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Thursday, April 9th, 2020
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Trade

Almost 40% of drillers may be wiped out if oil rout persists – Kansas City Fed.

Two oil workers working on pipes

BLOOMBERG, APRIL 7, 2020 Oil companies warn Kansas City Fed of widespread insolvencies | Bank survey finds deep pessimism among industry respondents By Rachel Adams-Heard and Catarina Saraiva for Bloomberg – Almost 40% of oil and natural gas producers face insolvency within the year if crude prices remain near $30 a barrel, according to a new survey by the Federal Reserve Bank of Kansas City. …

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India allows limited exports of “game-changer” drug after Trump warns of retaliation

U.S. President Donald Trump addresses the daily coronavirus task force briefing at the White House in Washington, U.S., April 6, 2020. REUTERS/Kevin Lamarque

REUTERS, APRIL 7, 2020 NEW DELHI (Reuters) – India, the world’s main supplier of generic drugs, said on Tuesday it will allow limited exports of the anti-malaria drug hydroxychloroquine that U.S. President Donald Trump has touted as a potential weapon in the fight against the coronavirus. The Indian government had put a hold on exports of hydroxychloroquine as well as …

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Malaysia makes massive seizure of pangolin scales, COVID19 suspected source

PortandTerminal.com, April 6, 2020 The record-setting haul of Pangolin scales was found Tuesday at a port outside the capital Kuala Lumpur, hidden inside a container along with a shipment of cashew nuts KUALA LUMPUR, MALAYSIA – Malaysian Customs authorities seized about six tonnes of pangolin scales and smashed a smuggling syndicate, officials said Wednesday, as the country clamps down on …

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Canadian mill doubles production, ships medical pulp to U.S. despite N95 mask export ban

Harmac Pacific's mill in British Colombia is the only source of key medical grade pulp used in masks, surgical gowns and so on.

PortandTerminal.com, April 6, 2020 President Trump recently invoked a law that prioritizes orders of medical supplies for American use. A Canadian based factory is the only source of a key ingredient used to make the desperately needed medical supplies. NANAIMO, BC – The owner of a British Columbia mill that makes pulp for surgical masks, gowns and other medical supplies says …

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Farms face crop losses due to foreign worker delays

Farmer looking at tomatoes rotting in his field.

REUTERS, APRIL 6, 2020 “If the farm doesn’t produce, the city doesn’t eat.” Foreign labor is critical to farm production in both the US and Canada. The coronavirus crisis is creating major delays in getting workers into the fields. WINNIPEG, Manitoba/CHICAGO (Reuters) – Mandatory coronavirus quarantines of seasonal foreign workers in Canada could hurt that country’s fruit and vegetable output …

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Somebody at the Port of NY stole 3 million badly needed medical masks from Mass.

The New England Patriots plane delivers masks brought in secretly from China to keep the federal government from snatching them

PortandTerminal.com, April 5, 2020 BOSTON, MA – Someone at the Port of New York stole medical masks from the State of Massachusetts that are desperately needed. Think about the enormity of that crime for a moment. During a news conference on Thursday, Gov. Charlie Baker said he was forced to reach out to the New England Patriots when he found himself …

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India Bans All Exports of Trump’s ‘Game Changer’ Virus Drug

Gloved hand holding a sleeve of medical tablets

BLOOMBERG, APRIL 5, 2020 U.S. president has continued to tout the unproven remedy | Hydroxychloroquine not approved in U.S. for Covid-19 treatment By Rajesh Kumar Singh for Bloomberg – India banned all exports of hydroxychloroquine, a malaria drug that President Donald Trump has repeatedly touted as a “game changer” in the fight against Covid19. Exports of the drug and its formulations …

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TRADE: Germany and France Blame U.S. for Playing Dirty Over Masks. “Piracy”

A worker loads boxes, branded with 3M Co. into a truck at The Royal London Hospital, operated by the Barts Health NHS Trust, in London, U.K., on April 2, 2020. Hollie Adams—Bloomberg/Getty Images

BLOOMBERG, APRIL 4, 2020 The accusations come as EU-US relations are at a low point | Demand for protective gear has rocketed during the pandemic | Canada “betrayed” and horrified by Trump administration blocking N95 mask exports By Ania Nussbaum and Patrick Donahue for Bloomberg – The scarcity of safety equipment essential to the coronavirus fight is fueling tensions between longtime transatlantic allies, …

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OPEC+ meeting delayed as Saudi Arabia and Russia argue over oil price collapse

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russia's Energy Minister Alexander Novak are seen at the beginning of an OPEC and Non-OPEC meeting in Vienna

REUTERS, APRIL 4, 2020 DUBAI/MOSCOW (Reuters) – OPEC and Russia have postponed a Monday meeting to discuss oil output cuts until April 9, OPEC sources said on Saturday, as a dispute between Moscow and Saudi Arabia over who is to blame for plunging crude prices intensified. The delay came amid pressure from U.S. President Donald Trump for the Organization of …

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