A Note From Me

How safe are we from Accidents?

Like many of you I was surprised to wake up on Tuesday and to the news that a container ship Dali had lost power and subsequently collided with the Francis Scott Key Bridge in Baltimore causing it to collapse and claiming the life of 6 construction workers who were working on the bridge.

As I’m writing this the Dali and the bridge remain intertwined, effectively blockading the Port of Baltimore and the 10 other container ships and cruise ships that are stuck inside the harbor. Dozens of other ships who were supposed to call on Baltimore have already diverted, impacting hundreds of sailing schedules and impacting thousands of workers and customers.

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What We’re Reading

• FabFitFun acquires PupBox from Petco: FabFitFun, a subscription box company, has acquired PupBox, a subscription service for dog owners, from Petco. The acquisition aims to expand FabFitFun's offerings into the pet market and capitalize on the growing demand for subscription-based pet products. (RetailDive)

• Build-A-Bear’s Shipping Expenses Pushed Up By Red Sea Attacks. Will Stuffed Bears Cost More?: Build-A-Bear's shipping expenses are on the rise due to disruptions caused by attacks in the Red Sea, potentially leading to increased costs for its stuffed bears. The company is facing challenges in managing its supply chain as shipping delays and higher freight costs impact its operations and profitability. (WSJ)

• Shipbuilding: the new battleground in the US-China trade war: With the ongoing global shipping crisis, there are myriad challenges confronting businesses due to port congestion, vessel shortages, and escalating freight rates. Supply chains are strained by disruptions, leading to heightened costs and delays in the transportation of goods, affecting industries on a global scale. (Financial Times)

• These Eight U.S. Bridges Are Vulnerable to a Repeat of the Baltimore Crash: Federal guidelines to protect bridges from vessel strikes were drafted following the 1980 collapse of the Tampa Bay Sunshine Skyway Bridge after a freighter rammed into one of its supports. Bridges built before the guidelines were released in 1991 weren’t compelled to comply. (WSJ)

• Ex-Workers at Temu Parent Say Noncompete Penalties Crush Their Finances: Chinese e-commerce giant, Temu, is exerting pressure on its workers through noncompete agreements, which restrict their ability to seek employment with competitors or start their own businesses after leaving the company. This practice raises concerns about labor rights and highlights the power dynamics between employees and large corporations in China's tech industry. (WSJ)

• UPS sees sales, profit growth coming out of ‘difficult’ 2023: UPS's is anticipating growth in sales and profit despite facing challenges. They are navigating a challenging environment and its confidence in overcoming obstacles to achieve positive financial results in 2023. (ajot.com)

• P&I clubs face huge bill for Baltimore bridge strike: There’s a potential financial impact on Protection and Indemnity (P&I) clubs due to the recent Baltimore bridge strike incident. The significant costs involved in compensating for damages and underscores the challenges faced by P&I clubs in managing the aftermath of such incidents. (Lloyd’s List)

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Get acquainted with Merit's savvy in creating a fulfilling network and seamless checkout experience, including using charitable donations as a nudge towards free shipping thresholds.

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