Hurricane Milton’s supply chain impact: What to know
Hurricane Milton made landfall south of Tampa, Florida, Wednesday evening, bringing with it heavy rains and damaging winds that have interrupted supply chain operations in the state.
The Category 3 storm tore through eastern and central Florida overnight, according to the National Hurricane Center, which noted that the storm has moved into the Atlantic Ocean.
The Tampa Bay area will experience major impacts across port operations as well as road, rail and air traffic due to flooding, according to emailed comments Thursday from Jon Davis, chief meteorologist at Everstream Analytics. READ MORE.
Corrugated Boxes Market Size Expected to Reach USD 269.19 Bn by 2033
The global corrugated boxes market size is predicted to increase from USD 180.26 billion in 2025 to approximately USD 269.19 billion by 2033, a study published by Towards Packaging a sister firm of Precedence Statistics. The sector is expected to expand at a solid CAGR of 5.14% between 2024 and 2033. READ MORE.
Greif Named to Newsweek's Top 100 Most Loved Workplaces for Fourth Consecutive Year
Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, today announced that it has been recognized as a Top 100 Most Loved Workplace for the fourth consecutive year by Newsweek.
"We are honored to be recognized as one of Newsweek's Top 100 Most Loved Workplaces for the fourth consecutive year," said Ole Rosgaard, Greif President and Chief Executive Officer. "This recognition is a testament to our employees' dedication and commitment to creating a positive and inclusive work environment where everyone feels respected, inspired, and appreciated. I am proud of our entire team for their hard work and dedication." READ MORE.
S&P Flash Manufacturing PMI:
The S&P Global Flash U.S. Manufacturing PMI dropped from 47.9 in August to 47, tumbling for the third consecutive month and at the steepest rate since June 2023. The largest negative contribution to the PMI came from new orders, which fell at the fastest rate since December 2022. READ MORE.
2Q Experiences the Least Amount of Mill Closures Globally in 10 Years
In 2023, the pulp and paper industry saw a significant amount of mill closures. One of the most evident factors behind the numerous mill closures in 2023 was the economic climate.
Because of this, there were several downward turns within various major grades across the pulp and paper industry. These included containerboard demand, the packaging market, the consumer board segment, and an accelerated decline in the already declining printing and writing market.
However, according to FisherSolve, Q2 2024 had the lowest amount of quarterly mill closures globally over the last 10 years. There was a 55% decrease in mill closures in Q2 quarter-over-quarter (QoQ) and a 53% decrease year-over-year (YoY). READ MORE.
Although the North American containerboard market saw a surge of new recycling machines in 2023, producers are waiting to see how the market develops before investing in new capacity, according to experts at Fastmarkets.
That was a key takeaway from a recent presentation from the research and price index firm, featuring experts from various regions. The session, “State of the Containerboard Industry and How to Get Back to the New Normal,” was moderated by Jon Rager of Fastmarkets.
In 2023, containerboard producers were matching capacity to the new demand reality, said Derek Mahlburg, director of North American graphic paper and packaging at Fastmarkets. Although Europe is slated for significant capacity expansions, North American producers are waiting to see if operating rates get closer to normal before investing in new capacity, he said. READ MORE.
Containerboard Pricing Holds Steady as Box Demand Sees Uneven Recovery
Box demand and pricing patterns continue to evolve due to ripple effects from the pandemic. Commodities experts and financial analysts expect more adjustments to come as economic and regulatory factors play out around the world.
On Friday, Fastmarkets RISI published data showing North American containerboard prices have held steady since the last update in August. Following multiple rounds of price increases in 2024, analysts largely expected this outcome. Respondents to BofA Global Research’s latest market survey predicted pricing wouldn’t go up again until early 2025. Read More.
Marigold and Sonoco Launch Recyclable, Paper-Based EnviroCan
Marigold Health Foods, in collaboration with Sonoco, has announced the launch of its new, fully recyclable packaging for a variety of natural, plant-based food products. Marigold’s range includes nutritional yeast known as Engevita, bouillon, gravy, stock cubes, sauces, and plant-based meat and fish alternatives. Marigold emphasises use of high-quality ingredients free from artificial additives and palm oil, catering to health-conscious consumers who value sustainability and ethical production. The fully recyclable packaging solution, created by Sonoco, exemplifies Marigold’s commitment to sustainability and innovation, setting a new standard in the market. READ MORE.
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