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.
Tanker rates could surge to over $250,000 per day when the EU’s embargo on Russian oil takes effect in February, according to Clarksons Securities.
Rising price caps on British energy are putting immense pressure on bill payers across the country:
Excessive heat warnings are in place for millions of people in California, Oregon, Washington, Nevada and Idaho, with high temperatures expected to last through Labor Day weekend. The heat is straining power supplies, with California’s grid operator warning Wednesday that the state could see organized blackouts.
Severe drought conditions are focusing a spotlight on the high water consumption of data centers, among the top 10 industrial users of water, which can consume as much water as a thousand homes for cooling.
Shell entered a 10-year agreement to supply Israeli shipping line ZIM’s new LNG-powered container ships operating between Asia and the U.S. East Coast starting next year.
In the latest news from the auto industry:
German engineering giant Bosch is spending over $200 million to boost electric vehicle fuel cell production in South Carolina.
The U.S. Energy Department extended an $11 million grant to the University of Michigan as researchers work to develop ceramic components for electric vehicle batteries, a bid to boost range and lessen fire risk.
Toyota plans to triple its investment in a new North Carolina battery plant from $1.29 billion to $3.8 billion, partly in response to rising consumer demand for electric vehicles.
Over 1,500 workers at Canadian logistics firm Loomis Express agreed to a new contract Wednesday to avoid a strike that would have disrupted facilities across eight provinces.
Robot sales are booming, with deliveries to the automotive industry comprising 59% of orders in the second quarter while the food and consumer-goods industry increased robot sales by 13%, according to the Association for Advancing Automation.
London-based Taylor Maritime Investments is offering to take over Grindrod Shipping in a deal that values the bulk carrier at nearly $500 million.
Intermodal provider RoadOne acquired Texas-based port trucking company Wilmac Enterprises.
The U.S. reported 88,286 new COVID-19 infections and 383 virus fatalities Wednesday.
The average U.S. mortgage rate rose from 5.65% to 5.8% week over week. Mortgage applications dropped 2% and were 23% lower than a year ago as the National Association of Home Builders suggests the nation may be in a housing recession.
U.S. food prices rose 10.9% year over year in July, the biggest increase since 1979, according to the Labor Department.
Restaurant traffic was up 10% year over year in the first three weeks of August to pre-pandemic levels, but the industry has been squeezed by rising food costs, absorbing about half of the 15% increase of the past year.
A U.S. bankruptcy court declined to give Chapter 11 protections to 3M based on a bankruptcy filing by its Aearo Technologies subsidiary, exposing the firm to more jury verdicts in faulty earplug lawsuits that have already yielded over $265 million in damages.
China’s big three state-owned airlines saw total losses balloon to $18.5 billion in the pandemic through this July, a result of the nation’s zero-tolerance COVID-19 strategy.
LATAM Airlines is getting closer to emerging from Chapter 11 after prevailing over two challenges to its reorganization plan in U.S. courts this week. Meanwhile, a judge declared regional Mexican carrier Interjet bankrupt almost two years after the airline stopped operating its low-cost flights in Latin America.