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.
Supply
Oil rose more than 2% Tuesday as the rescue of Credit Suisse eased concerns that a banking crisis would undercut the economy and fuel demand.
In mid-morning trading today, WTI futures were up 0.3% at $69.91/bbl, Brent was up 0.4% at $75.59/bbl, and U.S. natural gas was down 4.0% at $2.26/MMBtu.
U.S. crude stocks likely rose by 3.26 million barrels this week, according to the American Petroleum Institute. Government data is due today.
U.S. gasoline demand hit multi-month highs to start the week, while selling prices are higher than they were a month ago.
Texas added HSBC to its list of companies that allegedly boycott the oil and gas industry, which could ban some state entities from investing in Europe’s largest bank.
Russia plans to maintain its oil output cuts of 500,000 bpd through June, though skeptics question whether the cuts are real.
Government support for energy bills pushed the U.K.’s budget deficit to a record 16.7 billion pounds in February.
A years-long rally in prices for soybean oil has cooled after U.S. regulators proposed reducing the mandate for biomass-based diesel through 2025.
Chubb, a top-ten insurer to the oil and gas industry, said it is tightening coverage to ensure that producers are taking steps to reduce methane emissions.
Big commodity traders expect to see limited fallout in their markets from banking sector turmoil.
Prices for new ships are up 2% year to date after plateauing for several months to end 2022, according to Clarksons Research.
Knight-Swift Transportation Holdings is buying rival trucker U.S. Xpress Enterprises in a deal valued at about $808 million.
Canadian National Railway reached a new contract agreement with members of its largest union in negotiations that started last fall.
Insurance and compliance costs for companies in the transport industry are set to stay high amid the prospect of broader sanctions on Russia in the future, according to surveys.
A pair of large German transport unions plan to strike next Monday in a move expected to cause widespread disruption on railways and at airports.
The U.S. government is awarding almost $95 million to 59 so-called “smart” mobility projects aimed at boosting road safety and reliability throughout the country.
The U.S. Commerce Department released new rules aimed at preventing $52 billion in semiconductor funding from being used to expand or collaborate on projects based in China, Russia and other countries.
Walmart has deployed the first of a recently developed packaging machine that will custom size corrugated boxes on demand, resulting in less waste and more efficient loading of trailers.
In the latest news from the auto industry:
Makers of electric-vehicle chargers are bracing for a slowdown in production and deployment as they work to comply with “Made in America” terms of a $7.5 billion federal program.
Stellantis and a Mexican unit of Daimler Truck reached deals with a union to raise wages around 9% this year, rivaling similar increases for Mexico-based workers at General Motors, Audi and Nissan.
European officials are proposing new concessions for countries like Germany that oppose plans to phase-out gas-powered vehicle sales by 2035.
Global automakers facing stalling sales in China are putting more focus on India, a nation where passenger-vehicle sales surged 24% last year.
Lithium prices are down 20% since January, surprising analysts as increasing supply outpaces the growth in demand for EV batteries.
Domestic Markets
The U.S. index of leading economic indicators fell in February for the 11th consecutive month.
U.S. Treasury officials indicated they were prepared to intervene to protect depositors in smaller U.S. banks suffering deposit runs that threaten more contagion.
Wall Street’s top regulator delayed voting on a proposal aiming to protect stability of the financial system by detecting risk in the $20-trillion private asset-management sector.
U.S. home prices fell year over year in February for the first time in 11 years, while sales of existing homes surged 14.5% from the prior month, the first gain in 12 months.
Delta Air Lines will launch a flight academy to train pilots as the industry struggles with a shortage of aviators.
U.S. chipmaker Nvidia unveiled plans to rent out powerful supercomputers to nearly any business amid rising demand for artificial intelligence applications.
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