Commodities, Business & Shipping

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Hayfin Capital Management has generated around $400m for its shipping fund, bolstering its ability to acquire assets worth up to $1bn when combined with conservative loan financing.

The UK alternative investment platform said it plans to invest across each of the industrial maritime sectors, with a focus on acquiring “top-specification assets that generate predictable and uncorrelated cash yields from blue-chip counterparties”.

Hayfin, with around $32bn assets under management, maintains a discrete profile but has a sizeable maritime industry footprint with continuous investment activity across direct lending, alternative credit, leasing, and ship ownership, complete with an in-house ship management platform, Greenheart Shipping.

Hayfin builds $1bn shipping war chest - Splash247

Hayfin Capital Management has generated around $400m for its shipping fund, bolstering its ability to acquire assets worth up to $1bn when combined with conservative loan financing. The UK alternative investment platform said it plans to invest across each of the industrial maritime sectors...
splash247.com
 

Shipping’s exodus from parched Panama in full flow - Splash247

Global shipping has swiftly learned to live without the Panama Canal with real time seaborne trading maps experiencing one of the greatest and swiftest shifts over the past month. The transit backlog at the interoceanic waterway today numbers just 77 ships, 13 below the average since the 2016...
splash247.com
 

Weekly Scrap Report: Copper's Chill and Steel's Surge in December's Market​

Dec 07

20:07

Check Scrap Prices: https://iScrapApp.com/ - Join us in this week's Weekly Scrap Report as we navigate the varied landscape of December's scrap metal market. We'll delve into the recent developments in copper and aluminum prices, explore the robust rise in the steel market, and examine the downturn in catalytic converter prices. With a particular focus on nickel's ongoing struggles and the unique dynamics of December trading, this report is packed with insights to help scrappers make informed decisions during these fluctuating times.

Read more: https://iscrapapp.com/blog/weekly-scr...
 
The air cargo industry took another step toward unmanned freighter operations last month when Reliable Robotics operated a Cessna Caravan from FedEx on a 12-minute flight at Hollister Municipal Airport in north California.

FedEx feeder operator trials Reliable autonomous freighter - The Loadstar

On 21 November Reliable Robotics operated an unmanned Cessna Caravan from FedEx for a 12-minute flight taking off and landing at Hollister.
theloadstar.com
 
Confidence in the Panama Canal to process container vessel transits appears to have completely bombed over the past week, and there have been widespread diversions of Asia-North America east coast sailings to Suez and Indian Ocean routes.

“Multiple carriers have revealed changes to imminent voyages by removing the Panama Canal, signalling a continued loss of confidence in the passage in the weeks to come,” eeSea operations and forecasting analyst Destine Ozuygur told The Loadstar.

More liner services avoiding canals to head for the Cape - The Loadstar

The slew of Panama Canal diversions continue, but with higher risks at Suez, carriers are routing vessels via the Cape of Good Hope
theloadstar.com
 
  • Gold down 1.5%, silver loses over 6.6% this week
  • U.S. dollar on track to snap three straight weeks of losses
  • U.S. non-farm payrolls data due at 1330 GMT
Dec 8 (Reuters) - Gold prices were flat on Friday, as markets looked forward to the crucial U.S. jobs data for more clues on the Federal Reserve's monetary policy decision, although a firmer dollar kept bullion on track for its first weekly fall in four.

 

Gold Price RECAP December 4 - 8

Happy Friday, traders. Welcome to our weekly market wrap, where we take a look back at these last five trading days with a focus on the market news, economic data, and headlines that had the most impact on gold prices and other key correlated assets—and may continue to into the future.
goldprice.org
 

USDA increases 2024 beef production | Weekly Livestock Market Update for 12/8/23​

Dec 8, 2023

23:06
 
Watch on utube for likes to articles on different stories.

What the Ship (Ep95) Red Sea | Tanker, Bulk & Container Sectors | Maritime Chokepoint | Shipbuilding​

Dec 8, 2023

35:47
 

Morning Bid: Disinflation station​

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

Tuesday's consumer price inflation update may not have to wow the gallery to keep the U.S. disinflation glow alive and persuade the Federal Reserve that its job is done.

With Fed policymakers starting their two-day meeting on Tuesday, the November CPI release drops right on to the table in front of them.

On the face of it, there may be no great thud.

More:

 
As we near the end of 2023, perhaps before considering too much where we will go in 2024, we should first assess where we stand in 2023. Here is brief synopsis of the facts regarding the ongoing collapse of the Everything Bubble, which comprises a bond bubble, a real-estate bubble and a stock bubble. Our starting point before we get too far in predicting what will happen in 2024 is to ask, “Where are we in the collapse of the Everything Bubble right now?” What do we actually know?

The Deeper Dive: Where Are We?

By trying to avoid the pain of normal corrections and crashes of financial situations that should never have built up in the first place, the Fed builds up bigger cataclysms to come...
goldseek.com
 

Weekly Commodity Market Update | Crop markets quietly watching South American growing conditions​

Dec 12, 2023

11:39
 
Federal prosecutors want Nikola Corp. founder Trevor Milton sentenced to 11 years in prison for inflating the price of the electric truck maker’s stock to enrich himself.

The proposed sentence is in line with a presentence investigation report. But it fell well below the 60 years in prison called for based on calculations of the seriousness of Milton’s crimes. The government is also seeking a $5 million fine, forfeiture of a ranch in Utah that was subject of one of three fraud convictions, and an undetermined amount of restitution to investors to be determined after Monday’s scheduled sentencing n U.S. District Court in Manhattan, New York.

Milton, 41, was convicted of one count of securities fraud and two counts of wire fraud in October 2022 following a 3 1/2-week jury trial.

Feds seek 11-year prison term for Nikola founder

Federal prosecutors want to see Nikola founder Trevor Milton imprisoned for 11 years as punishment for lying to investors.
www.freightwaves.com
 
The $1.88 billion sale of 130 of Yellow’s less-than-truckload terminals was approved by a Delaware bankruptcy court on Tuesday. A revised sale order is expected to be received by the court and entered into record Tuesday afternoon.

“Preliminarily based on what’s represented, this is obviously a tremendous outcome,” Judge Craig Goldblatt said.

The process included more than 400 interested parties completing nondisclosure agreements with 70 qualified bidders taking part in the auction that began Nov. 28. This first wave of terminal sales ends with 21 entities, mostly LTL carriers and their real estate arms, committing to purchase the properties at values that far exceed a prior appraised value of $1.1 billion.

‘Tremendous outcome,’ judge says in approval of Yellow terminal sales

A Delaware bankruptcy court approves the first round of Yellow’s terminal sales.
www.freightwaves.com
 
A look at the day ahead in U.S. and global markets from Mike Dolan

Judged by the sharp drop in the dollar, European central banks may find it hard to match the dovishness from the Federal Reserve that's seen global interest rates plummet overnight.

The European Central Bank and Bank of England now have to follow the fireworks, where the Fed's policymakers catapulted bond and stocks higher over the past 24 hours by indicating that as much as 75 basis points of policy rate cuts were coming down the pike next year.

More:

 

Weekly Scrap Report: Celebrating Copper's Stability & Steel's Rise​

12 hours ago

16:24

Check Scrap Prices: https://iScrapApp.com/ - In this festive edition of the Weekly Scrap Report, we're wrapping up the year with a detailed look at the current trends in the scrap metal market. From copper's heartening stability to steel's robust performance, we cover all the significant developments. Additionally, we touch on the catalytic converter market's slight dip and the implications of falling oil prices on metal transportation and refinement. As we celebrate the holidays, we also prepare to take a comprehensive look back at 2023 and forecast what's on the horizon for 2023 and 2024. Join us in embracing the holiday spirit while staying informed on the latest in the scrap world.

Read more: https://iscrapapp.com/blog/weekly-scr...
 

Danish shipping company Maersk to pause its container ship traffic through the Red Sea

Danish shipping company A.P. Moller-Maersk will pause all its container shipments through the Red Sea until further notice and send them on a detour around...
www.marketwatch.com
 

Choice beef prices down 1.5% compared to October | Weekly Livestock Market Update for 12/15/23​

Dec 15, 2023

15:32
 

U.S. Shipping CEO Calls for Foreign Seafarers Amidst US Merchant Marine Pay and Crewing Crisis​

by Captain John Konrad (gCaptain) In the current American labor landscape, the stark contrast between the assertive strides of transportation unions and the maritime sector’s unique labor challenges is striking. Under the most pro-labor presidential administration in generations, maritime officer unions are – with minor exception – not gaining much ground as they are unwilling to strike or pressure US flagged shipping companies to increase pay, benefits or shoreside opportunities. This has contributed to a significant shortage of qualified U.S. Merchant Mariners, a crisis that Sam Norton, CEO of Overseas Shipping Group, the largest U.S.-flagged tanker company, recently underscored in an interview with Tradewinds. However, instead of pushing for enhanced pay, benefits, and opportunities to attract and retain skilled talent, Norton urges unions to endorse the immigration of foreign mariners prepared to accept current reduced wages and limited shoreside opportunities when they reach retirement age.

“Everybody understands that there’s a labour shortage, but nobody’s really talking about a solution,” Norton told Tradewinds news. “This is an effort that needs work. I think the State Department is listening. I think the Department of Defense understands there is a problem. And I think a strategy can be developed in conjunction with the unions that would sponsor qualified mariners on a path to citizenship.”

More:

U.S. Shipping CEO Calls for Foreign Seafarers Amidst US Merchant Marine Pay and Crewing Crisis

Explore the critical wage and mariner crisis in the U.S.Merchant Marine, where stagnant salaries contrast sharply with other transportation sectors. Uncover why maritime unions hesitate to demand higher pay, despite global labor shortages and inflation. This comprehensive article delves into the...
gcaptain.com

​

 
^^^^^^ Here's part 2

Union Fights Back On Proposal To Import Foreign Labor Into US Merchant Marine​

by Captain John Konrad (gCaptain) A pivotal debate is unfolding, one that carries the potential to redefine the trajectory of the U.S. Merchant Marine. Central to this discourse are two divergent perspectives, championed by prominent industry figures. Adam Vokac, President of the Marine Engineers’ Beneficial Association Union (MEBA), and Sam Norton, CEO of Overseas Shipping Group (OSG), have stepped into the spotlight with their responses to my editorial that shed light on the deepening crewing crisis afflicting the U.S. maritime sector and the paucity of union pressure applied during what is arguably the most pro-union administration since FDR. The catalyst for this intense debate was a suggestion made by Norton in an interview with Tradewinds, advocating for the integration of foreign labor into the U.S. Merchant Marine, a proposal that has sparked a vigorous and consequential debate about the future direction of this vital industry.

Related Editorial: U.S. Shipping CEO Calls for Foreign Seafarers Amidst US Merchant Marine Pay and Crewing Crisis

“As loyal Americans who work every day in service to the United States Merchant Marine, we are deeply insulted by the remarks made by Sam Norton suggesting that the industry’s solution to address crewing shortages is to hire and replace them with foreign workers, plain and simple. Opening the door for non-U.S. citizens to work aboard U.S. vessels does nothing to solve the root cause of the problem,” said Vokac in a statement released today. “In fact, it would be the final nail in the coffin of the U.S. Merchant Marine.”

More:

Union Fights Back On Proposal To Import Foreign Labor Into US Merchant Marine

by Captain John Konrad (gCaptain) A pivotal debate is unfolding, one that carries the potential to redefine the trajectory of the U.S. Merchant Marine. Central to this discourse are two...
gcaptain.com
 

Red Sea Convoys & An Increase in Naval Presence around the Bab el-Mandeb - Op Prosperity Guardian​

Dec 17, 2023
In this episode, Sal Mercogliano - maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the proposed convoying and increased naval presence in the Bab el-Mandeb under Operation Prosperity Guardian, along with the actions by the major container lines in 'encouraging' this initiation of convoy and picket operations in the area.

25:53

- Pentagon To Launch ‘Operation Prosperity Guardian’ To Reopen Red Sea Passage https://gcaptain.com/pentagon-to-laun...
- Shipping Giants Pause Red Sea Voyages, Dealing Blow to Global Trade https://gcaptain.com/shipping-giants-...
- Suspected Hijacking in Indian Ocean May Mark Return of Somali Piracy https://gcaptain.com/suspected-hijack...
- United Kingdom Maritime Trade Operations - Recent Incidents https://www.ukmto.org/indian-ocean/re...
- Egypt Reports 55 Ship Reroutes Since November Amid Tensions https://gcaptain.com/egypt-suez-canal...
- Geographical Impacts of the Suez and Panama Canals https://transportgeography.org/conten...
- EU Shipping And US Naval Leaders Are Estranged Despite NATO Budget Boost https://gcaptain.com/eu-shipping-and-...
- Xeneta forecasts a stormy 2024 as shipping lines set sights on freight rate increases https://www.xeneta.com/news/xeneta-fo...
- Maritime Security Program https://www.maritime.dot.gov/sites/ma...
 
Live Piracy

Live Piracy Report

ICC FraudNet's Global Annual Report 2022. Read about developments in investigations, insolvency related misconduct, and the use of innovative technology to assist in discovery and court proceedings.
icc-ccs.org

Fearnleys Week 50
 

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 Monday, November 11, 2024.
tradingeconomics.com
 

Shipping stocks extend rally as Red Sea traffic paused​

MILAN, Dec 18 (Reuters) - Shipping stocks kept rising across Europe on Monday after A.P. Moller-Maersk (MAERSKb.CO) and other top freight firms paused journeys through the Suez Canal following attacks on vessels in the Red Sea by Houthi militants in Yemen.

Traders bet a prolonged disruption to the key route, which allows East-West trade without the time and expense of circumnavigating Africa, could boost rates.

Maersk shares rose as much as 4.7% in Copenhagen, before paring some of those gains, and following an almost 8% surge on Friday. By 1137 GMT, Italian shipper D'Amico (B7C.MI), Germany's Hapag Lloyd (HLAG.DE) and Norwegian oil tanker Hafnia (HAFNI.OL) gained between 4% and 7%, also extending last week's surge.

More:

 

A look at the future of ag land in the U.S. | Weekly Commodity Market Update for 12/19/23​

Dec 19, 2023

This week Will and Ben dive into the future of farmland in the U.S.

11:50
 

Copper Bullion – Pros and Cons​

Demand for copper has been rising at bullion dealers. The number of products available has also risen dramatically in recent years.

Mints and refiners are responding to increased demand with a wide variety of new copper rounds and bars with some interesting designs. The number of questions we get from clients has been rising, along with the interest.

There are a few good reasons to own copper, along with some good reasons to tread lightly when making an investment in the industrial metal.

On the negative side, it is hard to make a significant investment in copper bullion. The space required for storage and the weight of the metal make it prohibitive for most people to purchase in bulk.

More:

Copper Bullion – Pros and Cons

Preppers will often add a bit of copper to their barter stash. It has a unit cost even lower than silver, so it can fill a gap. Copper might be used in the smallest transactions.
goldseek.com
 
By Angeliki Koutantou (Reuters) Greece has advised commercial vessels sailing in the Red Sea and the Gulf of Aden to avoid Yemeni waters, keep only the necessary crew on the bridge and follow alerts issued by maritime authorities to avoid attacks in the area.

Greek ship-owners control about 20% of the world’s commercial vessels in terms of carrying capacity.

Greek Ship Owners Advised To Avoid Red Sea

Greece has issued a critical advisory for commercial vessels operating in the Red Sea and Gulf of Aden, urging avoidance of Yemeni waters and heightened vigilance due to Houthi militant attacks. The situation, impacting 20% of the world's carrying capacity controlled by Greek ship-owners, has...
gcaptain.com
 
Amidst heightened border tensions between Venezuela and the small nation of Guyana, Lloyd's Joint War Committee has added the booming Guyanese offshore sector to its list of areas of elevated risk, alongside notable hot spots like the southern Red Sea and the Black Sea.

Lloyd's Adds Guyana Offshore Sector to War Risk List

Amidst heightened border tensions between Venezuela and the small nation of Guyana, Lloyd's Joint War Committee has added the booming Guyanese off...
maritime-executive.com
 

Houthi Attacks Update: East-West Trade braces for uptick in Freight Costs in 2024 Amidst Extended Routes and Heightened Risks​

Houthi Attacks Update: East-West Trade braces for uptick in Freight Costs in 2024 Amidst Extended Routes and Heightened Risks

  • The ripple effect of the Israel –Palestine War halts operations at Red Sea and Suez Canal
  • Costs to surge for Europe bound energy supplies, palm oil and grains as the operating costs shoot up and eventually gets passed on to the consumer
Hamburg, 18 December 2023: The unfolding events in vital maritime passages such as the Red Sea, Suez Canal, and Panama Canal have prompted swift responses from major shipping companies, thereby impacting the container shipping sector. An additional 40% longer route, causing heavy upward pressure in the operating costs is expected to persist as the shipping time extends anywhere between one to four weeks due to the longer route.

More:

Houthi Attacks Update: East-West Trade braces for uptick in Freight Costs in 2024 Amidst Extended Routes and Heightened Risks - Container xChange

Houthi Attacks Update: East-West Trade braces for uptick in Freight Costs in 2024 Amidst Extended Routes and Heightened Risks
www.container-xchange.com
 

China bans export of rare earth processing tech over national security​

BEIJING, Dec 21 (Reuters) - China, the world's top processor of rare earths, on Thursday banned the export of technology to extract and separate the strategic metals, in a further step towards protecting its dominance in several strategic metals.

The commerce ministry sought public opinion last December on the potential move to add the technology to its "Catalogue of Technologies Prohibited and Restricted from Export".

It also banned the export of production technology for rare earth metals and alloy materials as well as technology to prepare some rare earth magnets.

More:

 

Morning Bid: Is that it for Christmas cheer?​

December 21, 2023 6:01 AM EST

A look at the day ahead in U.S. and global markets by Alun John.

The sharp sell-off in U.S. stocks late on Wednesday jolted those investors who had been sitting back hoping to enjoy the 'everything rally' until the end of the year.

It could take until U.S. PCE inflation data on Friday to say definitively whether this was the cold reality of January arriving early, or just a metaphorical late-Christmas morning squabble soon solved by dinner, but Thursday's open will still be interesting to watch.

More:

 

New task force aims to combat Red Sea attacks | WGOW Shipping on Live Now Fox​

Dec 21, 2023

15:01
 

What's Going On With Gold, Silver, Platinum, Palladium, and Rhodium? Part 1​

Premiered Dec 18, 2023
SBTV spoke with The Market Sniper Francis Hunt about what's going on with gold, silver, platinum, palladium, and rhodium and the price volatility we're seeing. The Market Sniper sets his sights on the outlook for precious metals and zeros in on them in part 1 of this 2 part episode.

50:50

Discussed in this interview:
01:12 Roller coaster gold
04:42 5 stages of breakout
11:05 Support and resistance
18:18 Silver pullback
22:22 Gold silver ratio
28:42 Mid-70 GSR next year?
32:07 Platinum outlook
39:17 Rhodium and other metals
 
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