Import Relief – Lost Worlds http://lost-worlds.com/ Fri, 18 Nov 2022 04:00:41 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://lost-worlds.com/wp-content/uploads/2021/05/cropped-icon-32x32.png Import Relief – Lost Worlds http://lost-worlds.com/ 32 32 The G20 says it wants to ‘recover together’ – but is it really? https://lost-worlds.com/the-g20-says-it-wants-to-recover-together-but-is-it-really/ Fri, 18 Nov 2022 04:00:41 +0000 https://lost-worlds.com/the-g20-says-it-wants-to-recover-together-but-is-it-really/

The G20 is often described as a workshop discussion that is long on intent but short on actionable details. The intent is reflected in the opening lines of its joint statement: “As major economies, we collectively bear responsibilities and…our cooperation was necessary for global economic recovery…and [we must] lay the foundations for strong, sustainable, balanced and inclusive growth.

The G20 economies represent 80% of global GDP, 75% of international trade and 60% of the world’s population. It is therefore a leading forum for global economic cooperation. The theme of the G20 meeting in Bali under the chairmanship of Indonesia is “Recover Together, Recover Stronger”.

“Recover Together” is set against the backdrop of post-Covid economic crises and disruptions to global production value chains, aggravated by the war in Ukraine which has created severe food and energy insecurity. The G-20 communiqué is eloquent on this subject, but does not provide a detailed roadmap for economies to coordinate their macroeconomic policies to “recover together”.

Developed economies are largely inward-looking and tend to give little thought to the impact of their macroeconomic policies on the developing world. So where is the element of unity in the global stimulus mechanism?

Politics in the United States, the world’s largest economy, is domestically focused on controlling inflation at all costs by aggressively raising interest rates. It has imposed heavy costs on developing economies, whose currencies are rapidly losing value, making it increasingly expensive to import food and energy. The food and energy crisis is aggravated by the constant appreciation of the dollar against the currencies of developing countries, net importers of energy.

Some US analysts are calling for extraordinary measures – market interventions to stem the dollar’s rise beyond one point. This could bring some relief to developing economies which could recover faster, boosting global growth, it has been argued.

The rising US dollar and more expensive energy imports have even endangered India’s macroeconomic situation by dramatically increasing the current account deficit to over 3% of GDP. For the first time in decades, India will experience a significant negative balance of payments for 2022-23.

The most important point is that the US and strong EU economies have a very high per capita income base. So if they adjust their policy to allow low- and middle-income countries to recover quickly, then the G20 slogan “Recover Together, Recover Stronger” might hold firm.

The statement talks about allowing increased capital flows and trade, but the IMF forecasts a sharp deceleration in GDP growth and global trade in 2023. All macroeconomic strategies in the developed world, including the aggressively hawkish monetary stance of the United States, lead to a destination ― a sharp slowdown or mild recession. In such a situation, developing economies, which do not have an adequate social safety net, will be the hardest hit. The G20 Presidency arrives in India at the most difficult times.

In 2008, after the global financial crises, the G20 rebounded together because it was easier to get each country to ease its fiscal and monetary policies. But today, macroeconomic coordination is much more difficult as each economy is under pressure to tighten fiscal and monetary policies, which were eased a lot during the Covid crisis. The policy direction is the opposite of what we saw after the 2008 global financial crisis.

If most of the G20 economies tighten, a sharp global economic slowdown and much pain must ensue. Under India’s leadership, the G20 will need to discuss how this hard landing policy, particularly in the US and EU, can be calibrated to minimize harm to poor countries. It’s a bumpy road ahead.

This article first appeared on The India Cable – a premium newsletter from The Wire & Galileo Ideas – and has been reposted here. To subscribe to The India Cable, click on here.

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CRISIL, Energy News, ET EnergyWorld https://lost-worlds.com/crisil-energy-news-et-energyworld/ Mon, 14 Nov 2022 06:36:00 +0000 https://lost-worlds.com/crisil-energy-news-et-energyworld/

New Delhi: Renewable the decision of the Ministry of Energy to consider basic customs duty (DCB) on the import of solar cells and modules as a law change event and allowing its transmission could raise the tariff by 50-70 paise per unit of electricity for eligible projects, research agency CRISIS said Monday.

According to the official press release, the increased tariff will remain below the average cost of purchasing electricity for discoms in India.

“However, this announcement provides partial relief for up to 6 GW of solar projects are already seeing high project costs as they are about to make import modules from this exercise,” he added.

The imposition of 40% BCD on importing modules and 25% on importing cells starting April 1, 2022 has increased the cost of the project by around 25%, driving down already low returns for developers , added CRISIL.

“Based on our discussions with industry players, we estimate that for 50-60% of the 17 GW capacity, the modules can be procured domestically, which keeps them outside the scope of the For another 10-15% of this capacity, modules were imported before BCD was imposed,” said Manish Gupta, Senior Director of CRISIL Ratings.

He added that treating BCD as a law change event will benefit remaining capacity up to 6 GW, making the projects economically viable.

These projects were offered at rates ranging from Rs 1.99 per unit to Rs 2.92 per unit, with only about 20 percent of the projects being priced above Rs 2.55 per unit, thus the increase of the tariff pass-through is expected to be in the range of Rs 3 per unit to Rs 3.2 per unit, which keeps them competitive with the average cost of supplying electricity to discoms in India.

“The tariff pass-through represents only partial relief, as returns from these projects will remain lower than expected at the time of the tender, with module prices having increased by around 50% since then. This contrasts with industry expectations of lower prices, in line with past trends, and was not budgeted in the tariffs during the tender,” said Ankit Hakhu, Director of CRISIL Ratings .

The imposition of the BCD was likely to impact approximately 17 GW of projects tendered between October 1, 2019 and March 9, 20216. These projects were likely to acquire modules after April 1, 2022 and would not have been able to factor customs duties into their bid prices. ]]> Northeast sinks into ‘Whac-A-Mole’ winter energy crisis https://lost-worlds.com/northeast-sinks-into-whac-a-mole-winter-energy-crisis/ Fri, 11 Nov 2022 04:30:00 +0000 https://lost-worlds.com/northeast-sinks-into-whac-a-mole-winter-energy-crisis/

AAfter enduring months of record gas price and pain at the pump, people and their wallets are ready for a break. But nowhere is relief further from sight than in New Englandwhere energy prices are rising rapidly, emergency stocks are depleted, and the region’s overreliance on distillate fuel has propelled it into a winter slump.

According to the Energy Information Administration, residents who depend on home heating oil will spend an average of $2,354 to heat their homes this winter, a 27% increase from the previous winter and the highest price in more than 25 year. The North East relies heavily on fuel oil, which is the main source of heating for 18% of households.

ITS ENERGY SERVICES UNDER ATTACK, UKRAINE CAN PREPARE FOR WINTER FROST

Those who use natural gas for heating will also spend a staggering average of $1,094, or 28% more than last winter.

Add to that rapidly dwindling stocks of US distillate fuel and the Northeast appears to be snowballing rapidly into a major energy crisis, with little or no short-term relief in sight.

The US ban on Russian gas imports was a major contributing factor: Before the war in Ukraine, the US imported around 700,000 barrels of oil from Russia every day, according to government data. Of these imports, most were shipped directly as refined petroleum products, allowing the Northeast to use its own refineries to produce gasoline instead.

Switching from gasoline production to distillate fuel production would be difficult because U.S. refineries can’t just “turn on a penny to stop producing gasoline and start producing distillate fuel,” said Mark Wolfe, executive director of the National Energy Assistance Directors Association.

Additionally, New England has been dubbed an “energy island” due to its shortage of pipelines, which leaves it largely disconnected from the rest of North America and limits its ability to import alternative supplies as a short-term solution. term. By 2021, more than a fifth of the East Coast’s distillate supply was imported from international sellers.

Europe has also agreed to send some diesel imports as a temporary reprieve, although the impact is limited.

Signs of crisis are mounting in New England — and fast. “It’s like a giant game of Whac-A-Mole, heading into winter,” Wolfe said. “Supply is low. Europe has increased its purchases abroad to replace sales of Russian distillates, which is causing tensions in the market,” he said.

And with fuel storage falling to its lowest level since 1951, containing just enough emergency supplies to last 26 days, analysts say this is likely just the start of a long and painful winter.

In the meantime, consumers and retailers are doing what they can to get by.

Some wholesalers have started allocating limited amounts of heating fuel to retailers in their home countries, who in turn have to ration the amount they can sell to consumers.

And buyers settle for less.

Some are only filling their tanks to partial capacity this winter, while others have opted to stop eating out or buying fewer groceries, one of many painful trade-offs needed to endure the exorbitant costs.

For Abdulmuqsad Waziri, an Afghan evacuee who helped US troops during the war, finding ways to pay high energy bills in his new home state of Massachusetts has been a particularly difficult challenge. His family moved back to the state late last year and he has since found steady work at a restaurant he enjoys.

But despite his hard work, diligent budgeting and pressing demands for as many extra shifts as the restaurant will allow him to take on, the price of his first winter heating bill, in October, took him by surprise. .

“The last bill I got was for $500,” he said. “I was unable to pay that bill.” Thanks to an international aid group, he got the help he needed.

But concerns are high for the months to come – not just for Waziri, but for the thousands of others who say they are paying hundreds more a month to heat their homes than they were in previous years – threatening a very real accessibility crisis for many.

And since analysts don’t expect distillate markets to return to normal until next summer at the earliest, the United States is in uncharted territory, at least for the foreseeable future.

“It’s really the first time a fuel has jumped so high before” and so directly impacted the lives of consumers, Wolfe said.

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“We are worried about families who could pay the bill last year, the year before, but who will not be able to pay it this year. And we will have more people coming to ask for help,” he said.

“Between the supply issues, the price issues, it’s pretty serious.”

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COP27: Island nations want China and India to pay for climate damage https://lost-worlds.com/cop27-island-nations-want-china-and-india-to-pay-for-climate-damage/ Tue, 08 Nov 2022 19:28:20 +0000 https://lost-worlds.com/cop27-island-nations-want-china-and-india-to-pay-for-climate-damage/

SHARM EL-SHEIKH (Reuters) – High-polluting emerging economies, including China and India, should contribute to a climate compensation fund to help countries rebuild from disasters caused by climate change, the government said on Tuesday. Prime Minister of the island nation of Antigua and Barbuda.

The comments marked the first time the two nations have been grouped together in the list of major emitters that island states say should be held accountable for the damage already caused by global warming.

Prime Minister Gaston Browne, speaking on behalf of the Association of Small Island States (AOSIS) negotiating bloc, told reporters that the world’s first and third largest emitters of greenhouse gases – although still emerging economies – have a responsibility to contribute to a fund.

Conference delegates agreed to put the topic of loss and damage on the formal agenda for the first time in the history of international climate negotiations.

“We all know that the People’s Republic of China, India, are big polluters and the polluter has to pay,” Browne said. “I don’t think there is a free pass for any country and I don’t say that with acrimony.”

In the UN climate talks, the phrase “loss and damage” refers to costs already incurred due to climate-fueled weather extremes or impacts, such as sea level rise.

China says committed to climate action at UN summit

To date, climate-vulnerable countries have called on historical emitters like the US, UK and EU to pay climate reparations.

China itself has previously supported the creation of a fund for loss and damage, but has not said it should contribute. The EU and US said China, the world’s biggest greenhouse gas emitter, should pay.

India, although one of the main emitters, has per capita emissions significantly lower than the global average.

AOSIS wants full commitment to launch a multi-billion dollar fund by 2024.

Egypt’s top climate negotiator, Mohamed Nasr, told Reuters that the aim of the COP27 negotiations was to get clarity on the way forward on loss and damage, but there were still a wide range of viewpoints.

“We now have a starting point, so it’s more streamlined and more focused and hopefully by the end of the two weeks we’ll have something that identifies the roadmap, the steps to take.” he declared.

Over the coming year, the objective would be to identify a mechanism for financing loss and damage.

“We’re going to look at the different options. Is it a setup? Is it a new fund? Is it the existing funds? I mean there are a lot of options,” he said. “What we’ve heard from many countries is that they want to keep their options open.”

Another AOSIS negotiator, Deputy Environment Minister for International Cooperation, Milagros De Camps, said that from the perspective of island nations like his that face more frequent and more like hurricanes and cyclones, the need for a new dedicated compensation fund is clear.

“We need a specific fund tailored to our purpose…a separate operating entity,” she told reporters. “It’s a matter of survival for small island developing states.”

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In trying to quit Russian energy, the EU traded one dictator for another https://lost-worlds.com/in-trying-to-quit-russian-energy-the-eu-traded-one-dictator-for-another/ Sat, 05 Nov 2022 10:00:00 +0000 https://lost-worlds.com/in-trying-to-quit-russian-energy-the-eu-traded-one-dictator-for-another/

For years, the European Union (EU) has relied on Russia to provide the oil and gas it needs to power industries and heat homes. Last year, 40% gas that the Europeans burned came from Russia, and the block disbursed $108 billion in the Kremlin.

But Russia’s invasion of Ukraine in February forced the EU to radically revise its energy strategy to wean itself off Russian oil and gas, in a bid to shed its dependence on the Kremlin. and to deprive it of energy revenues to finance its war. Over the past six months, the bloc has begun phasing out Russian oil and gas imports and looking for alternative suppliers. In December, the EU will ban imports of Russian crude oil, and by next February it will ban Russian petroleum products (although pipeline products are excluded from the bans). The EU is also committed to eliminate all Russian gas by the end of the decade.

But all that Russian oil and gas needs to be replaced to keep industries running and people to keep heating their homes.

Along with several other countries, the EU now hopes that Azerbaijan, a relatively small country sandwiched between the Caucasus Mountains and the Caspian Sea Sea, will become an important alternative to Russian energy. European Chancellor Ursula Von der Leyen called Azerbaijan a “reliable, trustworthy… [and] crucial energy partner » which could double its gas exports to the EU in no time “a few years” as Europe tries to rapidly diversify away from Russian energy.

But experts say there are major problems with betting big on Azerbaijan. The country currently does not have the supply or capacity to deliver what it said it could deliver. And in an effort to distance itself from one autocratic regime, Europe is throwing itself into the arms of another – a strategy that could backfire on the post-Soviet state. close links with Russia.

A new chapter for European energy

In the search for new sources of fuel, Europe has made all sorts of arrangements over the past year with suppliers like Norway and Algeria.

Norway is now the EU country leading gas supplier and pledged to deliver “as much gas as possible” to bloc countries; its gas exports to the EU are up 8% year-on-year. Meanwhile, EU Mediterranean countries have courted Algerian gas; the North African country is expected to increase its gas exports to Italy, for example, by 20% to 25 billion cubic meters this year.

Last July, the EU and Azerbaijan signed a new businessmarking what von der Leyen said at the time was a “new chapter [the EU’s] energy cooperation with Azerbaijan, a key partner in our efforts to move away from Russian fossil fuels.

Brussels presents the agreement as one which “will contribute significantly to the security of supply in Europe”, according to the European Chancellor. The MoU promises to double Azeri gas exports to at least 20 bcm by 2027, which would equate to around 6% of EU gas demand, but experts have cast doubt on the Azerbaijan’s ability to keep that promise.

Although its contributions are relatively small, the recruitment of Azerbaijan as a key energy partner is attractive to the EU due to its perceived stability and the potential scalability of Azeri gas projects and pipelines.

Azerbaijan, a country bordering Iran, Turkey, Georgia and Russia, transports its gas to Europe via the Trans-Adriatic Gas Pipeline (TAP), the final leg of the 3,500 kilometer Southern Gas Corridor (SGC), which was announced in 2013 and started operating in late 2020.

The country’s oil and gas production is jointly operated by its state oil company SOCAR and foreign partners, BP being the most remarkable. The government is unique in that it has not sought to revise the terms of its production sharing agreement with international companies, making it a ‘fairly reliable’ energy partner for the EU, John Roberts, non-resident senior researcher at the Atlantic Council’s Global Energy Sector and a member of the United Nations Economic Commission for Europe’s Gas Expert Group, said Fortune. “His approach has… been that when things are going well, toughen the terms of the next production sharing deal. [But] when they are hard, relieve them,” he said.

Gas flows from Azerbaijan to the EU have increased over the past eight months. By the end of this year, the bloc is expected to import 11.6 billion cubic meters of Azeri gas, a 40% growth of 8.2 bcm last year. And Azerbaijan’s TAP is intended to be scalable, meaning it can double its gas transit capacity to the 20 billion cubic meters outlined in the deal, said Tom Purdie, senior gas analyst and EMEA gas analyst. to commodity services firm S&P Global Commodity Insights. Fortune. Azerbaijan’s gas volumes are not enough to replace Russia’s, the total of which 150 bcm per year– but work with other measures to remove Russian energy from the EU’s energy mix, he noted.

And some optimists think the deal could be bigger than just natural gas. Closer cooperation between Brussels and Baku could help convert the post-Soviet state into a “key European partner”, moving it beyond Russia’s sphere of influence, Ilayda Nijhar, a political risk analyst focused on Russia and the former Soviet states, wrote for global affairs think tank ODI in August. As Russia increasingly isolates itself, Azerbaijan has become most important in the Kremlin as a trade link with Iran and Asia.

imperfect partner

Yet Azerbaijan is far from the reliable partner that von der Leyen promotes – nor does it have the necessary gas, infrastructure or funds to expand its infrastructure to respect its agreement with the EU, say some experts.

The EU’s agreement with Azerbaijan effectively offers “zero relief” to EU citizens “this winter or next… and probably not the next either,” Bowden said. This mainly serves to show EU citizens that policy makers are “doing something”, he said.

He explains that TAP gas comes from two projects in Shah Deniz, Azerbaijan’s largest natural gas field; operators are now ramping up production to its maximum output.

Meanwhile, the country’s two biggest potential sources – a third development at Shah Deniz and another at Azeri’s Chiraq Guneshli gas field – are “technically complex…and when deals are made, it will take many years to put them together.” online,” according to Roberts. At the same time, Azerbaijan’s domestic gas consumption is increasing. The French energy giant Total is planning a new project which will produce 1.5 billion m3 of gas, but which is intended for domestic consumption.

“There is no immediate prospect of large-scale gas developments…by 2027,” Bowden said. Any major gas project – if it materializes – will not happen until 2030, making it impossible for the EU and Azerbaijan to meet the conditions set out in their July agreement, he said.

Azerbaijan also lacks funds to increase production and infrastructure and needs to “invest heavily” to deliver more gas to Europe, said Gubad Ibadoghlu, senior visiting fellow at the London School of Economics (LSE) and senior analyst for social and economic studies in Azerbaijan. Center for Economic Research, says Fortune. And the high cost of transporting Azerbaijani gas to Europe previously inhibited gas flows to the mainland.

Azerbaijan could, in theory, buy gas from countries like Turkmenistan, Iran and Russia to meet its domestic needs, and in turn sell its own gas to Europe. But it would still need to improve and expand its infrastructure, and the sanctions make it “impossible” to buy from Russia, he said.

Trading one strong man for another

Along with arguments about whether or not the Azerbaijan deal is feasible, critics say that in an effort to distance itself from Putin’s Russia, Europe has simply traded one authoritarian for another.

The EU’s new energy deal shows that it is “rooting itself more [Azerbaijan’s] despotic regime” and Continue ignoring the human rights violations and corruption taking place under the regime of Azerbaijani President Ilham Aliyev, Gligor Radečić, a gas activist at CEE Bankwatch, a network of non-governmental organizations focused on the environment, said Fortune.

Aliyev, who ruled the Caspian country for 19 years, keep paying a “vicious crackdown on critics and dissenting voices. Independent activism, critical journalism and opposition political activity have been virtually extinguished,” according to advocacy group Human Rights Watch (HRW). Just in September, Armenia accused Azerbaijan of attacking its territory – the recent conflict killed nearly 300 soldiers – a claim that Aliyev’s government has denied, but that the The United States doomed as “illegal and deadly”.

This dictatorship could also be bad for business. Azerbaijan is a “poor partner” for the EU in terms of quality and stability, Ibadoghlu said. “In Azerbaijan, the ruling family makes its own decisions. They can back off or postpone [cooperation] at any time due to Russian influence,” potentially leaving the EU in a bind, he said.

Philippe Dam, HRW’s Europe and Central Asia director, warns that Europe has missed a major opportunity to put human rights at the top of its agenda with its partnership with Azerbaijan. The EU-Azerbaijan deal benefits the government, but does not “guarantee any protection of human rights”, Dam said. Fortune.

“A country that suppresses its own people…is not reliable enough to engage with the EU,” he said.

The EU was left with few good options. With gas storage sites across the EU now 95% full, the bloc could still face a shortfall of 30 billion cubic meters of gas next summer, underscoring the urgent need to call on d other suppliers or significantly reduce gas consumption, depending on new analysis of the International Energy Agency. The bloc’s best bets for gas suppliers are Russia, Azerbaijan, Algeria and Norway – and except for the latter, all are authoritarian states that will use gas exports as a political weapon, Radečić said.

But the bloc’s diversification strategy as a whole — which includes supplying the global liquefied natural gas (LNG) market — could “replace Russian gas volumes if all goes well,” Bowden said. Azerbaijan is not a “one-size-fits-all solution” for the EU, but one partner among many, he noted.

It is now up to investors and banks to step in to finance the expansion of pipelines and the exploration of new gas fields in Azerbaijan. As Ibadoghlu said: “If they don’t, Azerbaijan will not achieve its goal of becoming a reliable gas supplier for Europe by 2027.”

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Port of Karachi and Port Qasim Activities – Markets https://lost-worlds.com/port-of-karachi-and-port-qasim-activities-markets/ Tue, 01 Nov 2022 23:37:41 +0000 https://lost-worlds.com/port-of-karachi-and-port-qasim-activities-markets/

KARACHI: The Karachi Port Trust handled 57,195 tonnes of cargo comprising 28,225 tonnes of imported cargo and 28,970 tonnes of exported cargo in the last 24 hours ending at 07:00.

The total import cargo of 28,225 included 20,740 tons of containerized cargo, 2,522 tons of chickpeas and 4,963 tons of urea.

The total export of 28,970 includes 11,149 tons of container cargo, 471 tons of bulk cargo, 14,250 tons of Clinkers and 3,100 tons of oil and liquid cargo.

Nearly 2,210 containers including 1,497 import containers and 374 export containers were handled on Tuesday.

The breakdown of imported containers shows 401 of 20 and 548 of 40 loaded while 00 of 20 and 00 of 40 empty containers, while that of exported containers shows 295 of 20 and 51 of 40 loaded while 00 of 20 and 173 of 40 empty containers were handled during business hours.

Some 03 vessels namely, Pvt Sunrise, Seamax Westport and Cape Fulmar docked at Karachi port.

About 03 ships namely SSL Brahmaputra, Diyala and Uranus left the Port of Karachi.

QASIM PORT

A total of 09 ships have been committed to the PQA berths in the past 24 hours, including a container ship ‘MSC Elaine’ left port on Tuesday morning, while 03 other ships, IVY Alliance, Lisa and Meltemi should sail today in the afternoon.

A cargo volume of 129,203 tonnes, comprising 110,820 tonnes of imported cargo and 18,383 tonnes of exported cargo, including containerized cargo transported in 2,860` containers (1,840 TEUs import and 1,020 TEUs outbound). export) has been processed at the port within the last 24 hours.

Copyright Business Recorder, 2022

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Biogen Seeks Preliminary Injunction in Natalizumab BPCIA v. Sandoz Case | Goodwin https://lost-worlds.com/biogen-seeks-preliminary-injunction-in-natalizumab-bpcia-v-sandoz-case-goodwin/ Thu, 27 Oct 2022 21:09:48 +0000 https://lost-worlds.com/biogen-seeks-preliminary-injunction-in-natalizumab-bpcia-v-sandoz-case-goodwin/

Biogen is seeking a preliminary injunction in its BPCIA v. Sandoz case regarding Sandoz’s proposed biosimilar of TYSABRI (natalizumab). On October 20, 2022, the Court issued a sealed order on the parties’ joint stipulation and proposed timeline for a motion for a preliminary injunction. A redacted version of the schedule proposed by the parties provides that the information on Biogen’s motion must be completed by April 7, 2023, with a hearing to be scheduled later at the convenience of the Court. The joint proposal also requires Biogen to elect, by November 18, 2022, up to 5 patents and up to 10 claims to be asserted under the preliminary injunction.

Biogen also recently fielded a redacted version of his sealed 107-page complaint against Sandoz. Biogen alleges infringement of twenty-eight patents under the BPCIA based on Sandoz’s submission of an aBLA for PB006, a proposed biosimilar of TYSABRI (natilizumab). According to Biogene,[t]The patent infringement claims brought in this action are necessitated by the development and stated intent of the defendants to import, market and sell in Delaware and throughout the United States a biosimilar version of the breakthrough biologic product of Biogen, Tysabri® (natalizumab) (“Tysabri”) – which helps more than 200,000 patients in their fight against chronic, painful and life-threatening autoimmune diseases – by inappropriately exploiting Biogen’s intellectual property. Biogen seeks a judgment that Sandoz and Polpharma have infringed or will infringe the claimed patents, and a preliminary and permanent injunction.

TYSABRI is indicated for the treatment of multiple sclerosis and Crohn’s disease. TYSABRI is a humanized monoclonal antibody that targets the alpha-4 integrin component of adhesion molecules found on many white blood cells and, according to Biogen, “has been designed to selectively inhibit immune cells in the blood, preventing them from passing from the blood in the [central nervous system] where they can damage nerves.

According to Biogen, the claimed patents relate to “inventions relating to Tysabri, including relating to therapeutic uses of Tysabri, ways to make treatment with Tysabri safer for patients, and Biogen’s innovative antibody manufacturing methods, such as Tysabri”. Biogen alleges that “[i]In February 2005, after Tysabri was marketed, it was discovered that two people who had received Tysabri in clinical trials had developed progressive multifocal leukoencephalopathy (PML)”, leading Biogen to “voluntarily withdraw Tysabri from the market “. About a year later, “Tysabri was approved for reintroduction to the market[ with] a warning on the label regarding the potential risk of PML. According to the complaint, “Biogen has worked hard to develop an innovative risk management plan to provide early warning of PML cases,” including a Risk Assessment and Mitigation Program (REMS) to “mitigate the risk potential for PML in patients receiving treatment”. with Tysabri.

Biogen also alleges that its efforts led to “FDA approval of the first and only clinically and analytically validated anti-JCV antibody test, the Stratify™ JCV Antibody Enzyme-Linked Immunosorbent Assay (“ELISA”)” Stratify” or the “Stratification Test”). JCV is a “human polyomavirus” that “can remain in its most recent state in the body, usually without apparent clinical symptoms”, but “reactivation of JCV can lead to PML”. According to Biogen, its “innovative approaches to safely administer Tysabri and manage the risk of PML have been recognized by the US Patent Office.”

Biogen also alleges infringement of patents relating to the manufacture of antibodies, including methods of producing CHO cells with “enhanced growth characteristics”; methods of preventing and removing trisulfide bonds; methods of controlling glycosylation in cell culture processes; and depth filtration methods to clear mammalian cell culture. According to Biogene,[o]One of the major challenges in manufacturing therapeutic antibodies is that production is limited to cell-based expression systems which are expensive and inefficient, can have varying yields depending on the product and expression system , and require downstream treatment to remove introduced biological contaminants. of the expression system. Biogen claims it has “developed specialized cell expression systems that can be used to generate high-yield therapeutic antibodies, as well as specialized methods for culturing mammalian cells to improve the yield of therapeutic antibodies” .

Stay tuned to Big Molecule Watch for further developments on this BPCIA case.

[View source.] ]]>
“We will agree truck routes to meet the wishes of the community” https://lost-worlds.com/we-will-agree-truck-routes-to-meet-the-wishes-of-the-community/ Tue, 25 Oct 2022 09:58:29 +0000 https://lost-worlds.com/we-will-agree-truck-routes-to-meet-the-wishes-of-the-community/
The former site of Saltby Aerodrome

Saltby Farms wants to change the use of part of the airfield to allow the import, storage and export of straw for use at the Sleaford Renewable Energy Plant as regular supplies come in are interrupted.

Melton Borough Council’s planning committee recently postponed a decision on the project because members were concerned about road safety related to the use of the narrow Wyville Road for lorries carrying straw away from the site, before head east to join the A607 just south of Denton.

They highlighted the concerns of many locals who pointed out that there were few crossing places and that cars could be diverted into ditches to avoid large oncoming vehicles carrying straw.

The narrow Wyville Road near Saltby Airfield

Following the planning committee’s decision, a Saltby Farms spokesperson said: ‘We have always been committed to being part of the local community and are keen to find a way forward with local councilors and parishes.

“As a result, we are happy to adopt the preferred route.

“Although during the planning committee, the officers judged that the planning conditions were not necessary for the request, we are very happy to commit to following the route deemed most appropriate by the parishes and the committee to enable the farm to continue this important piece of work, which not only helps the UK to generate its own energy, but also enables the farm to diversify.

The postponement was welcomed by several opponents, including local resident Jane Page, who told the Melton Times: “As a resident who lives within 100 yards of the main import entrance proposed for operation plaintiff’s bale of straw and who endured years of nuisance. associated heavy goods vehicles which are used to import and export straw to power the Sleaford Biomass Power Station I applaud the committee’s decision to defer judgment on Saltby Airfield Farms retrospective planning application.

“Unfortunately, so far there has been little dialogue between Saltby Estates and the local community in relation to the straw bale operation and its heavyweight movements and I hope the claimant and his team will take this opportunity to listen to our very real concerns.

“The councilors who voted by majority to withhold judgment had visited our area and traveled the routes that could be affected by heavy goods vehicles, it is a relief that they share the views of local residents with regard to the likely negative impact on local road safety and residents, amenities and the environment and that these concerns were not fully addressed and further analysis was required in light of the very real difficulties that heavy goods vehicles would likely cause on narrow roads and country lanes that would be directly affected by this retrospective planning application.”

Planners had recommended council approve the retrospective scheme and Leicestershire and Lincolnshire motorways raised no objections to the HGV route proposals.

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Peak Freight Operator Shipping Season Collapses https://lost-worlds.com/peak-freight-operator-shipping-season-collapses/ Tue, 18 Oct 2022 23:40:00 +0000 https://lost-worlds.com/peak-freight-operator-shipping-season-collapses/ The peak shipping season is winding down as overstocked retailers cancel overseas orders and freight companies lower expectations for heavy freight volumes as the holidays approach.

Typically, in the last quarter of the year, freight carriers, from container lines to parcel operators, increase their profits thanks to strong demand. But a slew of shipping demand measures across the United States are falling, freight rates falling accordingly, leading carriers to cut capacity as a deeper downturn lies ahead.

The rapid reversal of a freight market that was booming at the start of the year, when tight capacity and rising shipping prices brought major profits to the transport and logistics sector, will weigh on profits from this week. Operators are expected to start reporting results based on growth that is already showing signs of slowing.

Trucking Leader JB Hunt Transport Services Inc.

Tuesday night reported that revenue was flat in the third quarter from the prior quarter at $3.84 billion and the company anticipates a weakened peak season. Storage giant Prologis Inc.

is expected to release its results on Wednesday.

“US import volume growth has stalled, particularly for freight from Asia,” said Ben Hackett, founder of Hackett Associates and author of the Global Port Tracker report published by the National Retail Federation. “Recent reductions in carrier shipping capacity reflect lower demand for merchandise from well-stocked retailers, even as consumers continue to spend.”

The NRF report is one of many metrics showing shipping volumes are slowing sharply from August to September, signaling a drop in demand that is rippling through supply chains even as retailers line up for the traditional sales season.

Global Port Tracker report forecasts imports at major U.S. seaports to decline 4% in the second half of the year after rising 5.5% year-over-year in the first six months of 2022 .

Data analysis group Descartes Datamyne says September container imports were down 11% year-on-year and 12.4% from August.


Photo:

Bing Guan/Bloomberg News

Descartes Datamyne, a data analytics group owned by supply chain software company Descartes Systems Group Inc.,

suggests an even steeper decline based on its tracking of incoming trade volumes.

Their report released earlier this month said September container imports, measured in 20ft equivalents, were down 11% year-on-year and down 12.4% from August. , an unusually steep drop in the months considered the peak of peak shipping. season. Container imports from China, where makers of goods including furniture, toys and electronic storage boxes are destined for U.S. retailers, fell 18.3% from August to September.

Many retailers pulled peak season orders earlier this year to avoid a repeat in 2021 when supply chain congestion led to holiday delays and product shortages. Many merchants now face overcrowded warehouses after consumers shifted their spending this summer and fall from household goods, electronics and furniture to travel and restaurants.

The slowdown in imports is already hitting rail volumes. According to the Association of American Railroads, average weekly loads moved in intermodal operations, a combined truck-rail service favored by retailers, fell 4.8% year-over-year in September. Volume was also 5.4% below August levels.

Trucking activity is also showing signs of slowing.

FTR Transportation Intelligence said in a report released Monday via Truckstop.com, a load chart matching truckers and available loads, that spot market activity on the West Coast recently fell to its lowest level since May 2020 and that demand in the Southeast “has fallen sharply”. after recent strength.

The drop in demand leads to an unusual drop in freight rates. DAT Solutions LLC, another load board matching truckers and loads, said the average spot rate for pickup trucks fell from August to September for the first time since 2015.

Container shipping rates which reached record highs last year have also fallen sharply, although they still remain above 2019 levels. This provides relief to shippers after prices soared during the past year which weighed on logistics budgets.

Tom France, Vice President of Logistics at Trane Technologies,

which makes heating, ventilation and air conditioning systems, said last month that truckload, ocean and air freight rates were falling rapidly. “We breathe a sigh of relief as rates come down and capacity is available,” he said.

Mr France said his ocean fares alone had fallen to around $5,000 from $15,000 a year ago. “Talk to me tomorrow,” Mr. France said, “it might be lower.”

Warehouses take over the 303 Loop near Phoenix, a city that leased 16 million square feet of industrial real estate in the first half, as companies look to change how they move goods to avoid bottlenecks supply chain bottleneck. Photo illustration: Adele Morgan

Tim Smith, director of global transportation and logistics at Old Time Pottery, a discount housewares retailer based in Murfreesboro, Tenn., said shipping carriers regularly call to offer contract rates for space on container ships until the middle of 2023.

“Not only do steamship lines inquire about contracts, they aggressively follow up when you don’t respond to them immediately,” Smith said.

Peak shipping season impacts package shipping, such as United Parcel Service Inc.,

fedex Corp.

and others typically handle increasing volumes as the calendar counts down to Christmas. Even this high-profit venture comes with warnings this year.

A Citi survey of shippers this month found that many moderated their outlook, with 22% expecting to ship more this year than last, compared to 38% who expected to ship more this time around. last year. Citi analysts say they expect a “weaker peak season and great uncertainty about the magnitude of demand.”

Write to Paul Berger at Paul.Berger@wsj.com and Paul Page at paul.page@wsj.com

Copyright ©2022 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

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A strong dollar is wreaking havoc on food imports in the Middle East, Africa and Asia https://lost-worlds.com/a-strong-dollar-is-wreaking-havoc-on-food-imports-in-the-middle-east-africa-and-asia/ Sun, 16 Oct 2022 13:49:00 +0000 https://lost-worlds.com/a-strong-dollar-is-wreaking-havoc-on-food-imports-in-the-middle-east-africa-and-asia/ Food importers from Africa to Asia are scrambling to pay their bills as a surge in the U.S. currency drives up prices even further for countries already facing a historic global food crisis.

In Ghana, importers warn of shortages ahead of Christmas. Thousands of containers laden with food have piled up at ports in Pakistan recently, while private bakers in Egypt have hiked bread prices after some flour mills ran out of wheat because it was stuck at customs.

Around the world, countries dependent on food imports are grappling with a destructive combination of high interest rates, a rising dollar and high commodity prices, eroding their power to pay for goods whose price is generally denominated in dollars. Dwindling foreign exchange reserves in many cases have reduced access to dollars, and banks are slow to release payments.

“They can’t afford it, they can’t pay for these products,” said Alex Sanfeliu, global trade manager for crops giant Cargill Inc. “It’s happening in many parts of the world.”

The problem is not new to many countries – and is not limited to agricultural products – but reduced purchasing power and shortages of dollars are increasing tensions in global food systems after the invasion of Ukraine by Russia.

The International Monetary Fund has warned of a disaster at least as serious as the 2007-2008 food emergency, US Treasury Secretary Janet Yellen has called for more food aid for the most vulnerable, while the World Food Program says the world is facing the biggest food crisis in modern history.

On the ground, many importers struggle with rising costs, shrinking capital, and difficulty obtaining dollars to ensure their shipments clear customs on time. This means that shipments remain stuck in ports or may even be diverted to other destinations.

“There has always been historical pressure on these payments, but right now it’s an unbearable pressure,” said Ted Georgeconsultant specializing in Africa and commodity markets.

In Ghana, where the cedi has lost around 44% this year against the dollar – making it the world’s second worst performing currency – there are already worries about pre-Christmas supplies.

“We think there is going to be a shortage of some food items,” said Samson Asaki Awingobit, executive secretary of the Ghana Importers and Exporters Association, which includes grain, flour and rice buyers. “The dollar is swallowing our cedi and we are in dire straits.”

Certainly, some countries may be cushioned by their purchases in other currencies such as the euro, while energy-exporting countries will benefit from overseas revenues. Global food costs have also fallen for six straight months, giving consumers hope for relief.

But the soaring dollar threatens to erode some of that advantage, according to Monika Tothova, an economist at the UN’s Food and Agriculture Organization, who estimates that this year’s global food import bill at a record high.

The situation is still fragile. Concerns are growing again over supplies from the Black Sea region as the war in Ukraine escalates and questions arise over the future of the deal to ship grain from Ukrainian ports . Weather shocks have fueled volatility in recent months, stocks are low and soaring fertilizer and energy prices are driving up food production costs.

As the Federal Reserve continues to tighten monetary policy, the dollar’s strength against emerging and developing market currencies will add to inflation and debt pressures, the IMF said in its global outlook this week.

In flood-ravaged Pakistan, government measures to prevent the outflow of foreign currency led to containers containing foodstuffs like chickpeas and other pulses piling up at ports last month, sending prices skyrocketing , according to Muzzammil Rauf Chappal, chairman of the Grain Association of Pakistan.

The situation calmed down after the appointment of the new Minister of Finance who undertook to clear pending transactions for businesses that have been delayed due to a shortage of dollars in its interbank market.

“The situation was quite dangerous,” said Chappal, whose company is the country’s largest private-sector wheat importer. “We expected the country to face a severe grain crisis.”

In Egypt, one of the world’s top wheat importers, shortages have hit private sector mills that supply flour for bread that is not part of the country’s subsidy program.

According to the Grain Industry Chamber, around 80% of millers have run out of wheat and have gone out of business, as some 700,000 tonnes of grain remain stuck in ports across the country since the beginning of last month. The Ministry of Supply said on Wednesday it would supply wheat and flour to private sector mills and pasta factories.

Cargill’s Sanfeliu said he expects global wheat trade flows to decline by 6% over the next few months, with corn and soybean meal flows declining by 3%, as developing countries struggle to pay for food and feed.

In Bangladesh, trading conglomerate Meghna Group of Industries may have to cut the amount of wheat it planned to import before war broke out amid at least a 20% rise in wheat import costs due to the appreciation of the dollar, said Taslim Shahriar, director of the company. Purchasing Manager.

“Currency fluctuations create huge losses for the business,” Shahriar said. “We’ve never seen this before.”

–With help from Arun Devnath, Abdel Latif Wahba, Asantha Sirimanne, Tarso Veloso Ribeiro, Souhail Karam, Katarina Hoije, Ama Tanoh and Eddie Spence.

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