Commodities (Business & Shipping)

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From the link:

Sustainability and communications consultancy Woodrow has published a report showing that 64% of senior finance professionals in the UK are contemplating reducing their investment in the maritime sector due to ESG risks.

The report sheds light on key areas of ESG risk perceived by lenders and investors, including labour rights, climate change, and regulatory compliance. It also assesses risk perceptions in specific maritime sectors such as shipping, ports and terminals, and offshore activities such as drilling.

Six in 10 investors considering divestment from maritime sector amid ESG concerns - Splash247

Sustainability and communications consultancy Woodrow has published a report showing that 64% of senior finance professionals in the UK are contemplating reducing their investment in the maritime sector due to ESG risks. The report sheds light on key areas of ESG risk perceived by lenders and...

splash247.com

 

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Capesize rates have been on charge since last Friday, notching up daily raises not seen in years.

Average cape spot rates leaped by another $7,410 yesterday according to the Baltic Exchange, and have now more than doubled in the space of one week to $41,796.

Cape rates crack $40,000 a day, doubling in the space of one week - Splash247

Capesize rates have been on charge since last Friday, notching up daily raises not seen in years. Average cape spot rates leaped by another $7,410 yesterday according to the Baltic Exchange, and have now more than doubled in the space of one week to $41,796. “Consistently strong volumes over the...

splash247.com

 

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• Best month for world stocks in 3 years
• ICE BofA index of IG bonds set for best month on record
• Equity investors pin hopes on soft landing for world economy

LONDON, Nov 30 (Reuters) - November has shaped up to be a fairytale month for equities, with the festive Santa rally investors traditionally hope for coming early as traders bet on a Goldilocks scenario of inflation falling and central banks lowering interest rates.

MSCI's world stock index (.MIWO00000PUS) is set to close the month up almost 9%, its best performance since November 2020, when markets cheered the arrival of COVID-19 vaccines.

Goldilocks meets Santa as global stocks power to best month in three years

November has shaped up to be a fairytale month for equities, with the festive Santa rally investors traditionally hope for coming early as traders bet on a Goldilocks scenario of inflation falling and central banks lowering interest rates.

www.reuters.com

 

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Nov 30 (Reuters) - Gold prices eased on Thursday as the dollar staged a rebound ahead of U.S. inflation data, although bullion was heading for its second monthly rise boosted by hopes that the Federal Reserve would cut interest rates soon.

Spot gold eased 0.2% to $2,041.19 per ounce by 0927 GMT. Bullion is up 2.8% so far this month after rising 7.3% in October.

U.S. gold futures for December delivery fell 0.3% to $2,041.70.

Gold subdued as dollar firms in run up to US inflation report

Gold prices eased on Thursday as the dollar staged a rebound ahead of U.S. inflation data, although bullion was heading for its second monthly rise boosted by hopes that the Federal Reserve would cut interest rates soon.

www.reuters.com

 

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WASHINGTON, Nov 29 (Reuters) - The United Auto Workers union said on Wednesday it is launching a first-of-its-kind push to publicly organize the entire nonunion auto sector in the U.S. after winning new contracts with the Detroit Three automakers.

The Detroit-based UAW said workers at 13 nonunion automakers were announcing simultaneous campaigns across the country to join the union, including at Tesla (TSLA.O), Toyota (7203.T), Volkswagen (VOWG_p.DE), Hyundai (005380.KS), Rivian (RIVN.O), Nissan (7201.T), BMW (BMWG.DE) and Mercedes-Benz (MBGn.DE).

UAW launches bid to organize Tesla and 'entire non-union auto sector' in US

The United Auto Workers union said on Wednesday it is launching a first-of-its-kind push to publicly organize the entire nonunion auto sector in the U.S. after winning new contracts with the Detroit Three automakers.

www.reuters.com

 

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Rates Outlook 2024: Fair winds and following seas​

In many ways, the next couple of years could bring a return to normal process for rates, following a decade and a half of a post-great financial crisis legacy and a pandemic-induced jump start to inflation. Our conviction is centered on the lure of government bonds as official rates fall in 2024, but we aren't expecting a year of entirely smooth sailing.

Rates Outlook 2024: Fair winds and following seas

All of the latest details from our team on their key calls for rates in 2024 and beyond

think.ing.com

 

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Weekly Scrap Report: Copper's Surge & Steel's Unexpected Rise​

11/29/2023


17:31

Check Scrap Prices: https://iScrapApp.com/ - This week's Weekly Scrap Report brings a wave of positive news as we near the end of the year. Copper prices are experiencing a significant surge, presenting scrappers with excellent selling opportunities. In a surprising twist, the steel market is also on the rise, driven by lower oil prices. We'll also cover the steady performance of aluminum and zinc, and the encouraging movements in the catalytic converter market. As nickel prices continue to struggle, impacting stainless steel, it's a crucial time for scrappers to assess and capitalize on these varied market trends. Tune in for insights and strategies to optimize your scrap metal activities during this dynamic period.
Read more: https://iscrapapp.com/blog/weekly-scr...

 

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LONDON, Nov 30 (Reuters) - Saudi Arabia is exploring the potential launch of a new commodity trading platform for battery materials, including graphite and rare earths, its vice minister of industry and mineral resources said.

Riyadh's efforts to build an economy that is not dependent on oil include a shift towards mining the country's untapped mineral resources - worth about $1.33 trillion - including copper, lithium, phosphate and gold, but also investing in overseas assets.

Saudi Arabia studies graphite, rare earths trading platform - minister

Saudi Arabia is exploring the potential launch of a new commodity trading platform for battery materials, including graphite and rare earths, its vice minister of industry and mineral resources said.

www.reuters.com

 

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Dec 1 (Reuters) - A stellar rally in equities and bonds suggests market confidence is high for the world economy to reach a soft landing after a run of aggressive interest rate hikes.

Yet labour markets are softening, the euro zone faces recession and China's property sector is in crisis.

Here's what some closely-watched market indicators say about global recession risks:

Markets pin hopes on soft landing, with one eye on recession risk

A stellar rally in equities and bonds suggests market confidence is high for the world economy to reach a soft landing after a run of aggressive interest rate hikes.

www.reuters.com

 

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A look at the day ahead in U.S. and global markets by Samuel Indyk

As markets continue to push back against the Federal Reserve's higher-for-longer message, traders will be watching Chair Jerome Powell's comments on Friday - the last opportunity the central bank has to set expectations before their December meeting.

AMERICAS Powell's final shot to shape markets before December Fed meeting

A look at the day ahead in U.S. and global markets by Samuel Indyk

www.reuters.com

 

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Fearnleys Week 48 - Nov 29

https://fearnpulse.com/

 

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Commodities - Live Quote Price Trading Data

Trading Economics provides data for several commodities including live bid/ask quotes, last trading prices, forecasts, charts with historical time series and news. This table was last updated on Friday, July 26, 2024.

tradingeconomics.com

 

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Weekly Livestock Market Update: USDA raises latest 2023 farm income estimate​

Dec 1, 2023


17:09

 

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Always enjoy Dan's walks & talks, some neat scenery. As with anything I post, take it fwiw and dyodd. Links to all the stories below the vid on utube.

Experts Warn 'Buy Nothing!'​

Dec 1, 2023


20:19

 

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LONDON, Dec 1 (Reuters) – Russia on Friday failed to win enough votes for re-election to the United Nation’s shipping agency’s governing council after Ukrainian President Volodymyr Zelenskiy had urged countries not to allow Moscow to be part of the UN body’s executive arm.

Russia Fails to Get Re-Elected to IMO Council

Russia on Friday failed to win enough votes for re-election to the United Nation's shipping agency's governing council after Ukrainian President Volodymyr Zelenskiy had urged countries not to allow Moscow to be part of the UN body's executive arm.

gcaptain.com

 

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There’s lots of gas in Cook Inlet — here’s why some companies aren’t drilling​

Leaders of Alaska’s biggest gas and electric utilities say they don’t want to risk customer money to invest in uncertain drilling efforts, when imported LNG appears reliable and competitively priced​

One way out of Alaska’s impending natural gas shortage could sit under the ocean floor, a few miles north and offshore of the Kenai Peninsula community of Anchor Point.

There, a company says it’s sitting on an enormous pool of natural gas, equivalent to years of supply for Alaska’s power plants and home heating systems.

In fact, the company, BlueCrest Energy, has already brought numerous, productive wells online there, using a rig that drills horizontally from land out under the water. But the wells have been used mostly to pump oil from deep below the seafloor; the big pool of gas, BlueCrest says, sits higher up, between the oil and the ocean bottom.

BlueCrest says extracting the gas will require wells drilled vertically, from a new offshore platform it wants to build in the water. But even though Anchorage-area policymakers and utilities are girding for an impending crunch in natural gas supplies, the company has failed to find investors willing to front the money for what could be a $350 million project.

“This is a sure deal,” Benjy Johnson, BlueCrest’s chief executive, said in an interview. “The issue is, simply, the funding for the development. We are literally, every day, talking to investors, to try to convince them that Alaska is a safe place to come back to.”

More:

There’s lots of gas in Cook Inlet — here’s why some companies aren’t drilling - ArcticToday

Leaders of Alaska’s biggest gas and electric utilities say they don’t want to risk customer money to invest in uncertain drilling efforts, when imported LNG appears reliable and competitively priced

www.arctictoday.com

 

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WASHINGTON — Major trucking companies and brokers who book their freight are pressuring the Federal Motor Carrier Safety Administration to attach a safety rating to carriers operating without such a rating — a situation that exists for over 90% of the freight market.

Feds told to start rating ‘unrated’ trucking companies for safety

A government system that leaves most of the trucking industry without a safety rating needs an overhaul, carriers and brokers tell regulators.

www.freightwaves.com

An auction for Yellow Corp.’s terminals hasn’t ended yet, a Delaware court filing revealed late Friday.

The auction for the bankrupt company’s less-than-truckload terminals began Tuesday morning, with an expectation that winning bids would be revealed Friday. The court document said it may now be Tuesday (Dec. 5) before the new owners of the service centers are made public.

Auction for Yellow’s terminals ‘remains ongoing’

A filing in a Delaware bankruptcy court said the auction for Yellow’s terminals is ongoing and that winning bids may not be revealed until Tuesday.

www.freightwaves.com

 

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Logistics boom drives e-commerce firm’s relocation from Austin to Houston​

Cart.com is moving its corporate headquarters back to Houston after three years in Austin, Texas, citing the Bayou City’s infrastructure, talent pool and mix of customers as reasons for returning.

The company is a provider of online commerce and logistics solutions for merchants to sell and fulfill orders around the globe. Cart.com currently has about 6,000 brands on its platform.

Borderlands: Logistics boom drives $1.2B e-commerce firm’s relocation in Texas

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: The logistics boom drives Cart.com is moving its corporate headquarters back to Houston

www.freightwaves.com

 

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Like a tired but diligent old battle horse, the US consumer shook off worries about debt levels and opened the wallet for the peak shopping frenzy of the year.

Industry groups, operators and observers had predicted a subdued Cyber Week, with projections of a 5.4% rise over 2022 sales volume. Instead, the five-day shopping marathon, from Thanksgiving t0 Cyber Monday, yielded over $38bn in sales, up 7.8%.

Cyber Week e-commerce frenzy unexpected, but US fulfilment centres cope - The Loadstar

The five-day ecommerce shopping marathon from Thanksgiving through Cyber Monday yielded over $38bn in sales, 7.8% higher than last year.

theloadstar.com

 

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Notwithstanding three attempts at GRIs (general rate increases) in 45 days, Asia-North Europe container spot rates have so far remained stubbornly low, which will make new contract negotiations onerous for carriers.

Despite huge FAK (freight all kinds) increases proposed by carriers for 1 November, 1 December and 15 December, Xeneta’s XSI Asia-North Europe component edged up just 1% this week, for an average of $1,244 per 40ft, and remains 50% below the level for the same week of last year.

Failure of GRIs means a tough time for carriers in new-contract talks - The Loadstar

Despite three attempts at GRIs in 45 days Asia – North Europe container spot rates have so far remained stubbornly low

theloadstar.com

 

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Pentagon Confirms US Warship, Commercial Ships Under Attack In Red Sea | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

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Some deep stuff in this one.

The Virtual Watch Tower: A Public Good​

[By: Abhinayan Basu Bal, Trisha Rajput, Wolfgang Lehmacher, and Mikael Lind]

Building the new economy revolves around data, internet-of-things (IoT), artificial intelligence (AI), cloud and federated computing. The shipper-driven, terminal-centric Virtual Watch Tower / VWT (www.virtualwatchtower.org) is a federated computing initiative, created around fourth-generation logistics control towers of operational end-to-end logistics and supply chain monitoring (VWTnet). This results in an ecosystem that allows collaboration between global supply chain actors (VWT Community) to smartly share private data, enriched by public data. The collaboration allows enhanced visibility, analysis of data, and mitigation of risks such as disruptions or dealing with complex requirements like greenhouse gas (GHG) emissions calculations. Federated computing is chosen over centralized digital systems, where control is situated with the collaborating actors. In the new economy, the emphasis is on ‘collaboration’, and this article is about ‘governing’ collaboration in VWT.

Read or listen to the rest here:

The Virtual Watch Tower: A Public Good

Building the new economy revolves around data, internet-of-things (IoT), artificial intelligence (AI), cloud and federated computing. The shipper-driv...

maritime-executive.com

 

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UK Prime Minister Rishi Sunak celebrated the news of a £11 billion (US$13.9 billion) investment agreement between Germany's RWE and the United Arab Emirates’ state-owned renewables company Masdar during a whirlwind 11-hour visit to Dubai for the COP28 conference on Friday, December 1. News of the agreement for the joint investment in what is billed as the world’s largest wind farm comes at a critical time of the offshore wind and is seen as a vote of confidence for the beleaguered industry from a global investor.

UK Gets $14B Investment for World’s Largest Wind Farm from RWE and UAE

UK Prime Minister Rishi Sunak celebrated the news of a £11 billion (US$13.9 billion) investment agreement between Germany's RWE and the United Ar...

maritime-executive.com

 

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ALEXANDRIA, Louisiana, Dec 4 (Reuters) - Start-up tech firms are racing to transform the way rare earths are refined for the clean energy transition, a push aimed at turbocharging the West's expansion into the niche sector that underpins billions of electronic devices.

The existing standard to refine these strategic minerals, known as solvent extraction, is an expensive and dirty process that China has spent the past 30 years mastering. MP Materials (MP.N), Lynas Rare Earths (LYC.AX) and other Western rare earths companies have struggled at times to deploy it due to technical complexities and pollution concerns.

Western start-ups seek to break China's grip on rare earths refining

Start-up tech firms are racing to transform the way rare earths are refined for the clean energy transition, a push aimed at turbocharging the West's expansion into the niche sector that underpins billions of electronic devices.

www.reuters.com

 

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A look at the day ahead in U.S. and global markets from Mike Dolan

After closing at their highest level of the year on Friday, U.S. stocks mostly hogged those gains into the new week - with 'peak rates' optimism, Friday's U.S. jobs report and falling oil prices jockeying with edgy geopolitics for attention.

Morning Bid: Buoyant markets hold near year's highs

A look at the day ahead in U.S. and global markets from Mike Dolan

www.reuters.com

 

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LONDON/SYDNEY, Dec 4 (Reuters) - Global shares were mixed on Monday, while gold spiked to all-time peaks above $2,100 at the start of a busy week for economic data that will test market wagers on rate cuts from major central banks next year.

MSCI's broadest index of world shares (.MIWD00000PUS) rose 0.1% after hitting a fourth month high in earlier trading. However, Europe's STOXX 600 benchmark fell 0.1%.

Stocks mixed; 'indestructible' gold passes $2,100

Global shares were mixed on Monday, while gold spiked to all-time peaks above $2,100 at the start of a busy week for economic data that will test market wagers on rate cuts from major central banks next year.

www.reuters.com

 

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Attacks On 3 Commercial Ships: What We Know | USS Carney & the Bab el-Mandeb Shootout​

Dec 4, 2023

16:40

In this episode, Sal Mercogliano - maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the four attacks on three commercial ships (Unity Explorer, Number 9, and AOM Sophie II) in the Red Sea, near the Bab el-Mandeb, along with the destroyer USS Carney on December 3, 2023. These follow the capture of Galaxy Leader and the attempted seizure of Central Park.

- Houthi Attacks on Commercial Shipping in International Water Continue https://www.centcom.mil/MEDIA/PRESS-R...
- Marine Traffic: Unity Explorer https://www.marinetraffic.com/en/ais/...
- Marine Traffic: Number 9 https://www.marinetraffic.com/en/ais/...
- Marine Traffic: AOM Sophie IIhttps://www.marinetraffic.com/en/ais/...

 

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The Minerals That China, the EU, and the US Deem Critical to National Security | OilPrice.com

There is no universally accepted definition of critical minerals, but there's a number of critical elements that China, the U.S., and Europe are vying for

oilprice.com

 

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IMO to create Ukrainian technical assistance mission - Splash247

The International Maritime Organization (IMO) Assembly today is set to adopt a lengthy resolution on the impact of the Ukraine war on international shipping. The resolution will see the establishment of an IMO-led technical assistance mission to support Ukrainian authorities in facilitating the...

splash247.com

 

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A look at the day ahead in U.S. and global markets from Mike Dolan

As the S&P500 (.SPX) stalled on Monday at its high for the year, taking a breather from last week's 'peak rates' rally, smaller U.S. stocks picked up the baton and are playing catchup into the yearend.

Morning Bid: Small caps pick up baton, China rating hit

A look at the day ahead in U.S. and global markets from Mike Dolan

www.reuters.com

 

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Weekly Commodity Market Update: Markets focus on South American planting and weather​

Dec 5, 2023


11:10

This week Will and Ben look at South America's crop market position as its planting season rolls on.

 

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Constantin Baack | MPC Container Ships, German Economy, Valuation, Strategy, Investing, Dividend​

Dec 3, 2023

37:57

Constantin Baack is the CEO of MPCC, a containership company listed on Oslo Stock Exchange.

*Nothing to see, can listen in one tab, play around the forum in a different tab.

 

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Shipping stocks sink as Jefferies sees dry bulk rates reaching near-term wall (NYSE:DSX)

Shipping stocks, including Diana Shipping, fell as dry-bulk rates may have reached a near-term peak, according to Jefferies analysts.

seekingalpha.com

 

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China State Shipbuilding Corporation (CSSC) has unveiled plans for what could potentially become the world’s largest nuclear-powered containership.

Plans for the 24,000-TEU-class ship was unveiled Tuesday at Marintec China expo in Shanghai. The vessel will utilize a fourth-generation Molten Salt Reactor (MSR) to generate electricity.

Plans for Nuclear-Powered 24,000 TEU Containership Unveiled in China

China State Shipbuilding Corporation (CSSC) has unveiled plans for what could potentially become the world's largest nuclear-powered containership.

gcaptain.com

 

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(Bloomberg) —

The worsening bottlenecks at the drought-stricken Panama Canal are pushing at least one US diesel shipper to sail around the tip of South America en route to Chile for the first time since 2020.

The vessel Green Sky is hauling ultra-low sulfur diesel loaded at Citgo Petroleum Corp.’s Clifton Ridge terminal in Louisiana to Valparaiso, Chile, according to Bloomberg vessel tracking and Kpler. Rather than traversing through Panama, the vessel is headed down the eastern coast of South America toward the Strait of Magellan, the first such voyage for a cargo of Gulf Coast diesel since 2020, according to Kpler.

Panama Chaos Grows as US Diesel Shipper Takes the Long Route

The worsening bottlenecks at the drought-stricken Panama Canal are pushing at least one US diesel shipper to sail around the tip of South America en route to Chile for the first time since 2020.

gcaptain.com

 

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Looking back to when digital processes started taking hold in shipping​

FreightWaves Classics is sponsored by Old Dominion Freight Line — Helping the World Keep Promises. Learn more here.

FreightWaves explores the archives of American Shipper’s nearly 70-year-old collection of shipping and maritime publications to showcase interesting freight stories of long ago.

In this week’s edition from the August 1982 issue, we step back in time to when shipping first began to handle paperwork electronically.

Electronic paperwork​

Computerized tariff systems hold the promise of long-term cost savings to users, which can be achieved only if the minimum requirements of the shipper/user are met by a system that:

1. Does not require skilled computer personnel;
2. Allows clerical staff rather than highly trained freight clerks to select the correct bill of lading classification;
3. Presents timely and accurate historical, current, and forthcoming rates;
4. Eliminates reliance upon carriers and freight forwarders to calculate freight charges or freight bill auditors to determine freight overcharges; and
5. Feeds internal corporate systems to accelerate invoicing, auditing, accounts payable, and other accounting functions.

Manalytics recently performed a study for six major shippers to determine the technological, operational, and economical feasibility of developing and operating a shipper-oriented, shared-user, ocean rate information service.

More:

Looking back to when digital processes started taking hold in shipping

Filing documents electronically is the norm for businesses today. A 1982 article from American Shipper recalls when the industry first embraced this technology.

www.freightwaves.com

 

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Class 8 orders hit 14-month high in November

Class 8 truck orders hit a 14-month high in November, surpassing 40,000 bookings amid a mired freight market.

www.freightwaves.com

ArcBest’s November tonnage dips further, yields up

ArcBest said tonnage declines in November were tied to efforts to unwind dynamic pricing initiatives.

www.freightwaves.com

Texas border wait times spike as CBP agents moved to immigration duty

Cargo truck drivers at border crossings in South Texas again are seeing long delays as migrants and additional truck inspections have slowed traffic. A migrant surge and Texas-run truck inspections are causing hourslong waits for cargo truckers in the Lonestar State.

www.freightwaves.com

 

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Rival LTL players snap up Yellow terminals in $1.9bn auction - The Loadstar

The sale of the majority of the terminals of bankrupt Yellow saw rival LTL players snap up most of the facilities

theloadstar.com

 

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Suez Canal...Again! ONE Orpheus Grounds And Blocks One Lane of the Canal​

Dec 6, 2023


12:18

In this episode, Sal Mercogliano - maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses grounding and freeing of ONE Orpheus in the west lane of the Suez Canal on December 6, 2023.

- Marine Traffic: ONE Orpheus https://www.marinetraffic.com/en/ais/...
- Containership ‘ONE ORPHEUS’ Grounds in Suez Canal https://gcaptain.com/containership-on...

 

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IMO Adopts Tougher Resolution to Tackle 'Shadow' Tanker Fleet

The UN International Maritime Organization has adopted a resolution targeting illicit shipping practices from the so-called unregulated "shadow fleet" in an effort to clamp down on unsafe activities at sea.

gcaptain.com

Red Sea Shipping Attacks Raise Risk for Chunk of Global Trade

Fresh attacks on vessels in the Red Sea are raising insurance premiums for ships in the region and menacing commerce in a conduit for 12% of world trade.

gcaptain.com