The Olympic Games are a world-famous competition, which is regularly held in various sports. Since 1896, the competition has been realized in different countries and amuses the spectators. This year, the Winter Olympics will take place in China. The capital Beijing is already preparing intensively to offer athletes and spectators an unforgettable competition. The Games will be officially opened on February 4 and will end on February 20.
The impact of the Olympic Games on the chemical industry
Already in the past, we have had the experience that major events affect the production of Chinese chemical companies. Official requirements also lead to a temporary reduction in production capacities during the upcoming Olympics. Production is stopped before and during the current competition. In addition to the national holiday week “Spring Festival” impacts to the chemical production can be expected mid-January to the end of February.
The Olympic Games and the Supply Chain
The reduction in production capacity leads to delays in the supply chain. Changes in the freight market have also been observed in this respect. Even if this situation lasts only for a short time, companies who buy their intermediates or finished goods from China should be as proactive as possible in adapting their flow of goods. It is also advisable to build up buffer stock, ideally already in the fourth quarter.
Team Petrex has organised all necessary steps to secure a steady supply to our customers. For any questions please do not hesitate to contact us.
