M. Holland has announced expanded access to 3D printing filaments from Braskem, a global chemical company, providing clients with access to polyethylene (PE) and glass fiber reinforced polypropylene (PP) filaments. Click here to read the full press release.
M. Holland will be attending the North American Detroit Auto Show on Sept. 14-15. This annual showcase for emerging automotive technologies will be held at Huntington Place in Detroit, Michigan. If you’re attending, please RSVP for M. Holland’s reception or contact Mike Gumbko, Strategic Account Manager, to set up a meeting with our Automotive team.
Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets.
Supply
Oil rose 1% Thursday as traders bought into the recent dip in prices.
Oil futures, on pace for their second consecutive week of declines, were higher in mid-morning trading today, with WTI up 2.9% at $85.98/bbl and Brent up 2.8% at $91.67/bbl. U.S. natural gas was up 0.5% at $7.96/MMBtu.
U.S. crude stockpiles surged by almost 9 million barrels last week on a new release from strategic reserves, according to the EIA.
Global coal-fired power generation fell in the first half of 2022 on lower demand from locked-down China. Renewable power generation rose 17%, led by the U.S. and China.
Almost 50% of Guyana’s oil shipments have gone to Europe this year, more than triple the level from 2021.
Britain will cap consumer energy bills for two years and funnel billions to prop up power companies under a plan unveiled Thursday by the nation’s new government.
Hungarian officials say rising energy bills will lead to the collapse of small business and mass unemployment.
Solar panels produced 12% of Europe’s electricity in the second quarter, a record that saved the bloc over $30 billion in equivalent gas costs.
France’s first offshore wind farm will start up by the end of this year and bring enough power to handle 700,000 homes in the western part of the country.
India increased its Russian oil imports from 2% pre-invasion to about 12%-15% now, according to traders.
Hurricane Kay weakened into a tropical storm on Mexico’s Pacific coast Thursday but could still cause heavy rains and flooding along the Baja California peninsula and northwestern Mexico through Saturday.
With a Sept. 16 contract deadline looming, new research suggests a U.S. railroad strike could cost the national economy over $2 billion per day in output while threatening supplies of food and fuel.
Container shipping rates from Hong Kong to Los Angeles fell another 18.1% last week to around $4,000 per 40-foot container, approaching the break-even point for large carriers.
The ISM’s index for supplier deliveries hit 55.1 in August, a positive signal indicating that delivery times expanded at their slowest rate of the pandemic.
The Baltic Dry Index, a widely tracked gauge of dry-bulk shipping rates, is poised to fall between 20%-30% this year as goods trading sinks on lower demand.
The global freight brokerage market will nearly double within a decade to $91 billion in revenue, according to a new report from Allied Market Research.
Germany’s government has agreed to sell the Schenker logistics business of rail operator Deutsche Bahn in a rumored $20 billion deal.
GM says its all-electric Equinox will start at $30,000 MSRP next year, a price level many automakers haven’t achieved due to high production costs. Sales will begin with higher-end trims assembled in Mexico.
Chinese electric-vehicle-maker BYD signed a deal to build its first manufacturing plant in Thailand, which could produce 150,000 vehicles annually by 2024.
Initial U.S. jobless claims, a proxy for layoffs, fell to 222,000 last week, the fourth week of declines and the lowest level in three months, signaling continued tightness in the labor market.
U.S. banks reported $64.4 billion in profits in the second quarter, about 8.5% below a year ago.
The average U.S. mortgage rate rose for the third week in a row this week, approaching 6%, the highest level since 2008.
San Francisco home prices tumbled 7% last month as soaring interest rates and an exodus of tech workers battered demand in one of the most expensive U.S. housing markets.
United Airlines invested $15 million in electric-air-taxi maker Eve Air Mobility, its second investment in an air taxi producer in as many months.
Macy’s expects another early start to the holiday shopping season this year even though supply-chain issues show signs of easing and store shelves are adequately stocked, executives said.
Faring better than rivals during the pandemic, T-Mobile announced a $14 billion share buyback program that will run to next September.
Over $31 billion has exited European equity funds this year, the largest outflow since 2016.
Japan is tapping into $24 billion in emergency reserves this month to cushion the blow from rising food and energy prices, officials said.
Mexico’s annual inflation hit a higher-than-expected 8.7% in August, its highest level in 22 years, prompting expectations the central bank will continue raising interest rates.
Economic officials from the U.S. and 13 Indo-Pacific countries launched negotiations Thursday in Washington’s first major pan-Asian trade initiative in nearly a decade.
Australia’s trade surplus almost halved in July as key overseas shipments of coal and iron ore tumbled, while imports jumped 5%.
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