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Korea’s Hanwha is buying Philly Shipyard from Europe’s Aker for $100 million​

The South Korea-based Hanwha industrial group says it has agreed to pay $100 million to acquire Philly Shipyard from the Norway-based Aker Group and other shareholders.

Hanwha and Aker had been reported in talks since at least last fall to sell the yard, a partly state-financed commercial facility on the site of a historic U.S. Navy shipbuilding center that closed in 1996. The Navy still employs more than 4,000 engineers and other professionals in other areas of the former Philadelphia Naval Base.

“The union looks forward to a good relationship with the new owners,” said Lou Agre, head of the labor union group that employs around 1,000 at the yard. He noted the yard has been busy and is trying to interest apprentices in a shipbuilding career.

The U.S. shipbuilding industry, which is higher cost compared to East Asian rivals, remains precarious: The neighboring Philadelphia Ship Repair closed down in April, laying off members of the Machinists union, shortly after completing work on the museum battleship USS New Jersey. Port sources have said they expect Joseph Rhoads Co., which operates a neighboring dry dock, to take over the ship repair site, but Rhoads has not confirmed its plans.

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Fast Food PRICE WARS and FAKE JOB POSTINGS!​

Jun 20, 2024 #realestate #housingmarket #homeprices

Now that fast food restaurants are losing customers. They are in a race to the bottom to offer the best value meal once again to try and get customers back in the store. At the same time they're trying to eliminate jobs using AI and squeeze as much profit as possible. Meanwhile we just had a job report that smashed all expectations, but simultaneously seeing numerous accounts of how many of these jobs are fake.


20:36
 

Morning Bid: Nvidia gets vertigo, dollar builds​

June 21, 2024 6:02 AM EDT

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

Nvidia, the Nasdaq and the S&P500 got dizzy at record highs on Thursday as world markets start to take stock of a bumper 2024 as we near the half-year point next week - but with the dollar (.DXY), opens new tab back on the march regardless.

The latest U.S. economic readouts show some cooling of activity through May and June, but the trigger for the megacap recoil was less than clear - not least with the Atlanta Federal Reserve's "GDPNow" real-time estimate still showing a brisk 3% growth for the quarter.

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Take Five: It's all about the data​

LONDON, June 21 (Reuters) - For markets trying to assess how quickly interest rate moves are likely to come, it's all about the data.

That puts a closely watched U.S. inflation gauge, Tokyo's CPI index and preliminary June data from some euro zone economies in the spotlight.

Central bank meetings in emerging markets and the run-up to elections in Britain and France means there's plenty going on.

Here's your week ahead primer in world markets from Ira Iosebashvili in New York, Kevin Buckland in Tokyo, Karin Strohecker and Samuel Indyk in London and Yoruk Bahceli in Amsterdam.

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Fearnleys Week 25

Drewry WCI 20 June
www.drewry.co.uk

World Container Index - 20 Jun

20 Jun 2024: Drewry’s World Container Index increased 7% to $5,117 per 40ft container this week.
www.drewry.co.uk www.drewry.co.uk

Capital Link Shipping Week 25

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 tradingeconomics.com
 

Cattle placed up 4%, outside the upper end of pre-report estimates | Weekly Livestock Market Update​

Jun 21, 2024 #agriculture #news #markets

In this video, Brownfield's Meghan Grebner and ag economist Scott Brown talk cattle placements being up 4%, outside the upper end of pre-report estimates. They also recap this week's markets including Weekly Slaughter, Livestock Slaughter, Cattle on Feed, and more.


15:58

Chapters:
0:00 Introduction
0:20 This week in the markets
2:19 Weekly Slaughter
3:18 Livestock Slaughter
9:17 Cattle on Feed
13:47 Next week's reports
 

Kirkland Vs. Member’s Mark: Can Sam’s Club Ever Catch Up To Costco?​

Jun 23, 2024 #CNBC

Private labels have exploded in popularity as consumers' perspectives have shifted, and as inflation has skyrockets in recent years. Sales increased 34% between 2019 and 2023, totaling $236.3 billion. Costco dominates not only in the club channel, but beyond, with its famous private label Kirkland Signature threading more than 300 products. But Sam's Club, which consolidated its private labels in 2017, is a serious contender trying to catch up with its brand Member's Mark.


10:55

Chapters:
0:00 Introduction
1:29 Chapter 1. The rise of private labels
2:57 Chapter 2. Kirkland vs. Member's Mark
7:32 Chapter 3. Playing catch-up
 

Morning Bid: Transatlantic split reopens as half-year nears​

June 24, 2024 6:18 AM EDT

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

Global investors head to the half-year point this week trying to get across numerous political narratives, a hiccup in tech and a reopening of the transatlantic gap in business activity.

Throw in Friday's looming release of the Federal Reserve's favored PCE inflation gauge and an ongoing slide in Japan's yen and China's yuan and it's a sparkier summer than the buoyant first-half world markets numbers might suggest.

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maritime-executive.com

On Day of the Seafarer, IMO Emphasizes Safety and Security

Each year on June 25, the global maritime community pauses to celebrate seafarers, who deliver 90 percent of all international trade. Seafarers work...
maritime-executive.com maritime-executive.com

splash247.com

‘Grave threats’ abound on today’s International Day of the Seafarer - Splash247

Today marks the 14th annual International Day of the Seafarer and it comes at a time when the lure of a career at sea is being severely challenged. International Maritime Organization secretary-general Arsenio Dominguez conceded in a video address to celebrate the day: “Seafarers have been...
splash247.com splash247.com
 

Morning Bid: Nvidia's half trillion hiccup; Bitcoin, China slide​

June 25, 2024 6:03 AM EDT

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

In a glimpse at how megacap tails wag the dog, a near half-trillion dollar shakeout in AI-bellwether Nvidia's (.NVDA), opens new tab market cap in just a week continued to drag on the entire market even though most S&P500 (.SPX), opens new tab stocks ended higher on Monday.

Without any obvious trigger beyond a bout of nervy profit taking into Friday's half-year end, Nvidia has recoiled by almost 20% since last Thursday's record high - lopping more than $430 billion off its market value in the process.

But it's only back to where it was a fortnight ago - even though it remains in the red again before Tuesday's bell.

While the artificial intelligence champion chip behemoth remains up almost 140% for the year to date, the sheer scale of stock and the extent of the shakeout pack a punch for index investors.

The tech-heavy Nasdaq (.IXIC), opens new tab, predictably, lost more than 1% on Monday. The Dow Jones Industrial Average (.DJI), opens new tab of blue chips, on the other hand, rallied to a one-month high.

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Depletion of major groundwater source threatens Great Plains farming​

Jun 24, 2024

In the heart of the country, Great Plains farmers and ranchers produce a quarter of all U.S. crops and 40 percent of its beef. But they rely on a resource that has been slowly drying up, water. Stephanie Sy reports from Kansas for our series on the impact of climate change, Tipping Point.


8:16
 

Weekend flooding causes havoc ahead of acreage report | Weekly Commodity Market Update​

Jun 25, 2024 #agriculture #news #markets

This week Will and Ben dive into how upcoming acreage and stocks numbers could shake up the corn and soybean markets.


13:20
 

Weekly Scrap Metal Update: Market Manipulations & Copper's Drop​

📈 Check Scrap Prices: https://iScrapApp.com/ - In this week's market update, we delve into the manipulations and news surrounding oversupply and potential shortages in the scrap metal markets. Copper prices have continued to decline due to an oversupply from China, creating a volatile market. We discuss the sell mentality for copper and when we might shift to a hold strategy. Additionally, we cover the slight dip in aluminum prices, the continued weakness in stainless steel, and the seasonal effects on steel prices due to mill maintenance. Learn about the stability in catalytic converter prices, despite daily fluctuations, and the strong levels for precious metals like Inconel and carbide. Stay informed and make strategic decisions during these dynamic times in the scrap market.
👉 Read more: https://iscrapapp.com/blog/weekly-scr...


14:14
 

Morning Bid: US TV faceoff eyed, ailing yen steadies​

June 27, 2024 6:29 AM ED

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

With a frenetic week of politicking ahead in the United States, France and Britain, world stock markets held the line on Thursday, sovereign bonds were edgier and the dollar was buoyant.

U.S. President Joe Biden and Republican former president Donald Trump face off in a TV debate later today - sounding the klaxon in markets for November's election campaign. A second debate is scheduled for Sept. 10.

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Gold eyes quarterly gain; spotlight on US inflation data​

  • Bullion up about 4% for the quarter
  • U.S. PCE data due at 1230 GMT
  • Palladium up over 3%
June 28 (Reuters) - Gold prices were little changed on Friday but were poised for a third straight quarterly rise, while investors waited for U.S. inflation data for fresh clues on the Federal Reserve's interest rate stance.

Spot gold was nearly unchanged to $2,328.42 per ounce, as of 0907 GMT. Prices have gained about 4% for the quarter.

U.S. gold futures edged 0.1% higher at $2,338.80.

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Morning Bid: Parsing Biden TV flop, France poll, PCE time​

June 28, 2024 6:02 AM EDT

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

If TV debates decided elections, world markets seem remarkably calm about the prospect of a Donald Trump return to the White House as the first half of the trading year ends on Friday.

It may be too early to stake bets on November's U.S. election outcome just yet, and there are many pressing issues on the table before then - not least a critical update on Friday on the PCE inflation gauge favored by the Federal Reserve and the first round of the French assembly election at the weekend.

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Hog inventory up 1%, corn planted acreage larger than expected | Weekly Livestock Market Update​

Jun 28, 2024 #agriculture #news #markets

In this video, Brownfield’s Brent Barnett and ag economist Scott Brown talk hog inventory being up 1%. They also recap the USDA’s June Acreage Report that came out on Friday.


12:11

Chapters:
0:00 Introduction
0:29 This week in the markets
1:43 Weekly Slaughter
4:18 Cold Storage
6:00 Hogs and Pigs
9:06 June Acreage
11:12 Next week's reports
 

Take Five: Election nerves reach fever pitch​

June 28 (Reuters) - European election fever is running almost as hot as the Euro 2024 football tournament, as this weekend's first round of voting in France promises to be market-moving, no matter what the outcome, while Britain may see its first left-of-centre government in 14 years.

Joint favourites France and England, along with hosts Germany, enter the final 16 of the Euros. But the excitement is not just on the football pitch, or the polling booths. The coming week also brings the market's favourite data point - U.S. monthly employment figures.

Here is your look at what matters for markets in the coming week from Lewis Krauskopf in New York, Rae Wee in Singapore, Yoruk Bahceli in Amsterdam and Andres Gonzalez and Naomi Rovnick in London.

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China issues rare earth regulations to further protect domestic supply​

BEIJING, June 29 (Reuters) - China has unveiled a list of rare earth regulations aimed at protecting supplies in the name of national security, laying out rules on the mining, smelting and trade in the critical materials used to make products from magnets in electric vehicles to consumer electronics.

The regulations, issued by the State Council or cabinet on Saturday, say rare earth resources belong to the state, and that the government will oversee the development of the industry around rare earths - a group of 17 minerals of which China has in recent years become the world's dominant producer, accounting for nearly 90% of global refined output.

Their global industrial significance is such that under a law that entered into force in May the EU set ambitious 2030 targets for domestic production of minerals crucial in the green transition - particularly rare earths due to their use in permanent magnets that power motors in EVs and wind energy.

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splash247.com

Additional tonne-miles in 2024 could smash records - Splash247

Additional tonne-miles in 2024 could smash records, according to new analysis from Clarksons Research. If the Red Sea shipping crisis persists throughout the year – as many analysts are now forecasting – Clarksons estimates shipping will need to handle 3,600bn extra tonne-miles, a tonne-mile...
splash247.com splash247.com
 
(U) WORLDWIDE: Worldwide Threat to Shipping (WTS) Report,29 May–26 June 2024

opinion.inquirer.net

Shipping supply chains and global conflicts

Disruptions to shipping supply chains are being felt globally due to the conflict in Gaza and related attacks on ships by Houthi militias, as well as Russia’s invasion of Ukraine, but they are not
opinion.inquirer.net opinion.inquirer.net

UKMTO Summary Report: 22–28 June 2024
22/06/2024 - 28/06/2024
 

Morning Bid: Second half of 2024 kicks off, markets bet on French gridlock​

July 1, 2024 6:48 AM EDT

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

An event-packed but shortened week stateside kicks off the second half of 2024, with European markets rallying on Monday as the first round of French assembly elections points to a hung parliament and policy gridlock.

Although French far-right coalition parties got the largest share of the vote at Sunday's first round as expected, the percentage was shy of last-minute opinion polls and the grouping looks short of an overall majority when the process is over.

In part due to the high turnout, next Sunday's second phase of voting will see more than half the parliamentary seats contested by three candidates - which means tactical voting to shut out the far right will likely affect their overall tally.

That suggests an outcome of messy parliamentary maths that stymies significant policy initiatives, not to mention another three years of "co-habitation" with the powerful presidency.

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