M. Holland will be exhibiting at MD&M West in Anaheim on Feb. 7-9. Stop by Booth #4115 to meet our Healthcare team and discuss how M. Holland’s line of medical-grade resins can help you develop safe and effective medical products and packaging.
Every year, M. Holland’s market managers take time to reflect on the major trends of the past 12 months. Click here to read M. Holland’s 2023 Plastics Industry Trends & Predictions, including business insight and recommendations for the 3D printing, automotive, color and compounding, electrical and electronics, healthcare, packaging, rotational molding, sustainability, and wire and cable markets.
Automotive, Electrical & Electronics and Wire & Cable were top performers in 2022 as electrification incentives and digitalization efforts expanded market opportunity. Click here to read 2023 predictions from our market managers for these three markets.
In late-morning trading today, WTI futures were down 1.5% at $48.49/bbl, Brent was down 1.5% at $85.39/bbl, and U.S. natural gas was down 4.8% at $2.71/MMBtu.
U.S. gasolines prices are up 9% this year to an average of $3.51 per gallon, according to AAA, with some states seeing larger increases.
Active U.S. drilling rigs were flat last week at a total of 771, about 304 lower than pre-pandemic levels, according to Baker Hughes.
Jet fuel prices are hitting record highs for the month of January as demand rises from rebounding travel activity in China. The International Energy Agency says jet fuel will likely lead oil demand growth this year.
OPEC+ delegates are set to meet this week to decide on future production levels, with most analysts expecting the group to stick to its current output policy.
Norway’s decision to offer temporary tax breaks to oil and gas companies is expected to result in increased flows from the North Sea, which has seen declining production and investment in recent years.
More news related to the war in Ukraine:
London’s Intercontinental Exchange plans to launch a “parallel” market for some European gas trading next month, a bid to escape the bloc’s upcoming price cap on gas derivatives.
Oil loadings from Russia’s Baltic ports are set to rise by 50% this month as sellers try to meet strong demand in Asia, traders say.
German crude oil imports rose 11% in 2022, resulting in a doubled crude import bill of almost $56 billion.
Global container shipping capacity expanded by 4.1% in 2022, according to Alphaliner.
The dry bulk market is expected to be the best trade of 2023 due to improved demand for raw materials and rising construction projects in emerging economies, leading to an increase in vessel transport and newbuild orders.
American Airlines’ fourth-quarter cargo revenue dropped 22.9%, as passenger revenue surged 44.7%.
Knight-Swift Transportation saw fourth-quarter net profit slump 41.6% to $148.7 million.
Staff walkouts at Britain’s Royal Mail service cost the carrier nearly $250 million last year.
Japan and the Netherlands will join the U.S. in restricting exports of advanced semiconductor manufacturing equipment to China.
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