Even if vaccination rates in the developing world reach the necessary levels over the next 12-24 months, the exercise will have to be repeated every year. “Top up” vaccinations, just like the flu jab, will be needed.
There are no signs we will even achieve the first round of sufficient vaccinations in the developing world because of the abysmal response from richer countries.
Vaccine hesitancy poses a threat to global herd immunity. In the US, 28% of people are unwilling to be vaccinated; in France, it is 30%.
This means container-freight disruptions will drag on and on.
Petrochemicals companies must get closer to their freight suppliers and source better data and analysis on current and future freight rates.
We need to better understand how freight rates are driving petrochemicals pricing.
A close eye must be kept on arbitrage opportunities that will suddenly open-up when vessel space is available, as the freight crisis will result in long-term big regional price differentials.
The extra time and effort will be worthwhile because as the blog post details today using the example of global polypropylene demand, the fundamentals of demand are extremely strong.
Source: ICIS, John Richardson,