M. Holland announced a new partnership with Lavergne, a global manufacturer specializing in the formulation of customized compounded engineered resins, to distribute PCR resins for customers in North America. Click here to read the press release.
Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets.
Oil plunged nearly 5% Wednesday to settle at the lowest levels in over a year on concerns that a crisis in the banking sector could trigger a recession and cut demand.
Energy futures were mixed in mid-morning trading today, with WTI down 1.3% at $66.72/bbl, Brent down 1.0% at $72.94/bbl, and U.S. natural gas up 2.5% at $2.50/MMBtu.
Russia’s oil-export revenues have roughly halved in the space of a year while its oil exports have remained largely unchanged, suggesting Western sanctions are taking effect without constraining global oil supplies, the International Energy Agency says. Moscow itself predicts oil and gas production will fall this year.
Cyclone Freddy has killed more than 270 people in southern Africa since it made landfall last month, making it one of the deadliest storms to hit the continent in two decades.
A freight train reportedly carrying hazardous chemicals derailed in Arizona’s Mohave Desert late yesterday, perhaps due to a tornado reported in the area, adding to growing concerns about rail safety.
The Cass Freight Index for expenditures for U.S. domestic freight transport dropped to 4.02 in February, down 9.7% from a year earlier to nearly the lowest level since October 2021.
The Port of Long Beach moved 543,675 TEUs last month, down 31.7% from its record set a year ago but still 2.5% above pre-pandemic levels.
Ohio is suing Norfolk Southern to hold the carrier financially responsible for a Feb. 3 train derailment in East Palestine, Ohio, that sent 38 cars off the tracks, including 11 tankers carrying hazardous materials.
Large companies like Walmart and Whole Foods Market are pressing suppliers to cut prices for goods while others have been canceling orders for products from clothing to appliances, a stark change from buying strategies a year ago.
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