Plastics News named M. Holland among the Best Places to Work for 2023! This marks the company’s sixth consecutive year receiving this award. Congratulations to all 22 finalists this year!
Plastics Business published a story written by M. Holland’s Todd Waddle, Director, Sustainability, which reviews key considerations for implementing post-consumer recycled (PCR) and post-industrial recycled (PIR) materials. Click here to read the full article.
Supply
Oil rose over 1% Friday to end the week higher, driven by renewed optimism about demand from top importer China.
In mid-morning trading today, WTI futures were down 0.7% at $79.15/bbl, Brent was down 0.8% at $85.17/bbl, and U.S. natural gas was down 12.6% at $2.63/MMBtu.
Saudi Arabia raised crude prices for Europe and Asia for a second consecutive month, as new refining capacity coming on-stream in the country is expected to increase domestic demand.
Shareholders in U.S. oil companies reaped a $128 billion windfall in 2022 thanks to a combination of global supply disruptions and intensifying Wall Street pressure to prioritize returns over exploration.
The U.S. administration is holding talks with global energy companies and foreign officials in an effort to set standards for certified natural gas, which producers are marketing as climate-friendly.
Hydrogen producer Plug Power increased revenue 40% last year but fell short of projections.
Supply Chain
A powerful storm system that battered the South and Midwest with heavy winds caused at least 11 deaths and left thousands of Americans without power over the weekend.
After a Norfolk Southern train derailed last month near Palestine, Ohio, spilling toxic chemicals, the railroad suffered a second derailment near Springfield, Ohio, Saturday, prompting a new investigation. No injuries were reported.
Global air cargo capacity is back above pre-pandemic levels for the first time in four years, while total volumes dropped 4% in February compared with a year earlier.
An international association of freight forwarders is calling for ocean carriers to restore demurrage/detention policies and fees to pre-pandemic levels.
Taiwanese chipmaker TSMC plans to recruit 6,000 new engineers this year despite a global downturn in the chip industry.
U.S.-based chip supplier MKS Instruments expects quarterly revenue to fall 20% on the impact of a ransomware attack that disrupted its supply chain in February.
A blockade is set to resume on a crucial copper-transport highway this week in Peru, the world’s second-largest producer.
In the latest news from the auto industry:
Volkswagen expects supply chain issues to ease and sales to rise 10%-15% to as much as $352 billion this year.
After suffering a nearly 10% fall in sales of F-150 trucks last year, Ford is studying ways to boost output of gas-powered and hybrid F-150 trucks as part of a broader plan to boost production of several models.
The U.S. and EU are working toward an agreement that would make European battery minerals eligible for tax credits, officials say.
Home mortgage applications slid during the week ended that Feb. 24 to the lowest level in 28 years as high borrowing costs continue to squeeze buyer affordability.
Many analysts are skeptical that a recent spell of high-profile tech layoffs is a precursor to recession.
Discount retailing giant TJX is taking advantage of buying opportunities, growing its branded inventory and sales as major retailers close stores and liquidate excess stock.
A gauge of business activity in the euro zone climbed to an eight-month high of 52 last month, led by the bloc’s dominant services industry, according to S&P Global.
Home prices in Toronto fell 17.9% in February from a year earlier, while sales were down 47%.
China unveiled its lowest GDP growth target — 5% — in more than 25 years as it faces challenges following its emergence from three years of strict COVID-19 measures.
Activity in China’s services sector expanded at the fastest pace in six months in February, according to a private survey.
Russia’s wheat exports nearly doubled in the last two months from a year ago due to bumper harvests, making Russian grain one of the cheapest globally.
German airline Lufthansa swung to a 1.51 billion euro profit in 2022 and expects a significant improvement in earnings this year.
Indian budget carrier IndiGo is in considering an order of more than 500 Boeing and Airbus jets, potentially smashing an order record set by a domestic rival just a few weeks ago.
Boeing received an order for 15 737-9 aircraft from Hong Kong’s Greater Bay Airlines.
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