During M. Holland’s recent summer internship program, 15 bright college students worked both in-person and remotely across many departments. Click here to read more about their experiences at M. Holland and their perspectives on the plastics industry.
M. Holland’s latest logistics outlook examines current challenges and industry trends that are impacting shipping, trucking and rail. Although the plastics industry is faring a little better than earlier this year, M. Holland’s experts predict disruption to continue well into 2023. Click here to read the full outlook for the remainder of 2022.
European natural gas and power prices plunged over 20% Monday on positive news that the EU is on track to meet fuel storage requirements for winter. Year-ahead energy futures remained at record highs, however.
German power supplier Uniper is seeking an additional $4 billion in government funding after fully using its existing $9 billion emergency credit line to manage higher costs.
Norwegian carbon storage firm Northern Lights, a joint venture founded by Equinor, TotalEnergies and Shell, secured a deal to store emissions from a major Dutch fertilizer maker starting in 2025, a commercial breakthrough that marks the world’s first agreement for cross-border CO2 transport.
Arizona-based First Solar, the U.S.’s biggest solar-panel maker, plans to spend $1.2 billion to boost production by 75% with help from incentives under the recently passed climate and healthcare law.
Record-breaking temperatures will hit the U.S. West this week including in Southern California and Arizona, where more than 30 million people are already under heat advisories.
U.S. freight railroads struck contract deals with unions representing 15,000 of some 115,000 unionized workers Monday, a positive signal in negotiations that have lasted over two years. The Drewry Shipping Consultants’ index for container rates from Shanghai to Los Angeles fell 6% last week to $6,127, down 45% from January.
A measure of rates for the bulk sector’s largest capesize vessels fell 30% in a single day late last week.
The container ship backlog outside the ports of Los Angeles and Long Beach dropped to eight vessels Monday, the lowest level in two years.
Outbound shipments from the congested Port of Oakland fell 30% from June to July, the biggest drop since 1997. Some industries are signing deals for new trade routes that skip the port entirely.
The Port of Oakland will spend $2 million to build infrastructure to handle electric vehicles in its cargo operations.
Tanker operator Frontline swung to a $42.2 million second-quarter profit as it prepares to merge with rival Euronav.
The U.S. dollar touched a fresh 20-year high Monday on signals that the Federal Reserve will continue raising interest rates to restrict growth.
The Federal Reserve’s quantitative easing will ramp up this week as the central bank lifts the monthly selloff of its nearly $9 trillion portfolio to $95 billion per month.
U.S. teenagers aged 15 to 19 accounted for almost 13% of new hires in May, up from around 2% in 2019 amid persistent worker shortages.
The Dallas Fed’s index of Texas manufacturing activity hit -12.9 in August, remaining in contraction territory despite substantially improving over July’s reading of -22.6:
U.S. electric vehicle maker Lucid filed for a new security offering of up to $8 billion as the automaker looks to beef up working capital while supply snarls crimp production. Tesla launched a lawsuit seeking to invalidate a Louisiana law that bars the automaker from selling its electric vehicles directly to consumers rather than using dealerships as intermediaries. Fitness equipment maker Peloton will delay publication of its annual report, citing more time needed to sort out accounting tied to its restructuring effort. Shredded COVID-19 personal protective goods such as gowns, masks and gloves can increase the strength of concrete by 20%, providing a solution for the solid waste challenge presented by the pandemic.
U.S. electric vehicle maker Lucid filed for a new security offering of up to $8 billion as the automaker looks to beef up working capital while supply snarls crimp production.
Tesla launched a lawsuit seeking to invalidate a Louisiana law that bars the automaker from selling its electric vehicles directly to consumers rather than using dealerships as intermediaries.
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