Afternoon Coffee: VW Puts Procurement Chief In Charge of Diesel Scandal, West Coast Ports Still Congested

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Volkswagen Group put its VW Group Procurement Chief, Garcia Sanz, in charge of supervising the automakers diesel emissions scandal. VW said Sanz will be in charge of the “systematic processing” of the issue.

Congestion at the West Coast ports continues to impact supply chains, according to shippers. The congestion, which is blamed on the labor dispute at the ports that began in 2014, is having long-term implications, the industry is saying.

Also, a new report from Moody’s Investor Service said container cargo volume growth will slow at U.S. ports in 2016, rising 3-4% in 2016, compared to the 5% growth this year.

Another energy company has announced plans to cut back on 2016 capital spending. Chevron Corp. said capital spending will total $26.6 billion next year, 24% less than the expected spending for 2015.

 

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