A second episode of major earthquakes has struck Northern Italy less than 10 days after an earthquake impacted the Emilia Romagna region of northern Italy. Reports indicate that this latest incident involved a magnitude 5.8 tremor which that struck shortly after 9 am local time near the town of Mirandola, which is located 40 km north of the city of Bologna and 60 km east of the city of Parma. Thus far, 10 persons have been reported killed, all within the Modena region. Thousand remain traumatized by this latest incident.
The quake struck at a depth of 9.6 km, somewhat deeper than the shallow 5 km depth of the prior quake. In its reporting, BBC News indicates from interviews that the latest quake appears to be stronger than the initial episodes. The latest earthquake was felt throughout northern Italy with reports of buildings being evacuated in the major cities of Bologna, Milan, Genoa and Pisa. More major aftershocks are also being reported and local transportation has been interrupted. Reports also indicate that two factories in the cities of Mirandola and Medolla were reduced to rubble with rescue workers digging in the area to locate victims. Social media postings indicate that both Ferrari SpA and Ducati Motor Holding SpA have both shut down operations to allow employees to join their families.
Damage estimates from the May 20 quake were already estimated to be in excess of $250 million, but latest reports indicate that buildings and structures previously weakened by the initial incidents have now been destroyed by the latest severe tremors. The area itself is one noted for its production of agriculture and industrial goods.
Our heartfelt prayers go out to those families in Italy who continue to deal with the effects of this ongoing disaster.
Supply chains teams with value-chains extending to Northern Italy should be actively assessing potential impacts to supply and supplier facilities.
An added update to our commentaries related to the episodes of earthquakes that have impacted the Emilia-Romagna region in Italy.
The Financial Times reported today that the death toll from both the May 20 and May 29 quakes has risen to at least 24 persons. More than 20,000 persons have been forced into temporary accommodations and fear additional shocks. Many fear returning to places of work since the latest deaths involve factory workers crushed in falling buildings.
In terms of economic scope, an Italian government official indicated that the impacted region accounts for one per cent of national GDP, and is a key region for producing biomedical supplies, ceramics and specialty cheeses.
We will share additional commentary when more supply chain related information is available and encourage any of readers who reside in Italy to share information.
A final comment relates to our surprise in the lack of any detail coverage of this disaster among traditional global wide media.