Got Propane? Adoption in Port & Maritime Accelerates
Ports are looking for affordable, reliable ways to decarbonize while still getting the performance they need. Propane can be part of that entire energy mix — from moving freight to material handling to producing dependable power. Jim Bunsey of the Propane Education Research Council (PERC) visits with Maritime Matters: The MarineLink Podcast, to share insights on how ports, terminals and even the workboat market [with a forthcoming conversion of the…
Nth Cycle signs $1 billion mineral offtake agreement with Glencore before public listing
Nth Cycle, a US metals refinery startup, has signed an offtake agreement worth $1 billion with Glencore. The deal is to supply the commodities giant with minerals such as lithium and other essential minerals extracted from used batteries. The US battery recycling industry is awash with deals for 10 years, as governments and companies race to secure domestic resources of minerals essential for electric vehicle batteries. The agreement was signed at Glencore offices in New York on Tuesday, the first time it has been reported.
The agenda of the UN summit is laid out by Turkey's COP31 president
On Monday, the president of Turkey's COP31 outlined a plan to 'transform' existing climate commitments into projects with measurable results. This included raising electricity's share in energy consumption by 2035 to 35% and reducing projected increases in municipal garbage by half. Murat Kurum, COP31 president and Turkish Environment, Urbanisation and Climate Change minister, said that the summit action plan, presented at a United Nations meeting in New York…
What the commodity markets can look forward to from the Trump-Xi Summit
The trade in agricultural products, energy, and rare earths have become the major bargaining cards in the trade dispute between the United States and China. They are likely to be discussed again next week when President Donald Trump hosts his counterpart Xi Jinping at the White House. What else do we know? Agri-products, including soybeans, are one of the largest US exports to China. They will reach $29 billion by 2024. These are also 'among?the least sensitive areas of the trade relationship, and therefore a likely area to reach an agreement.
South Korean lawmaker: Trump to announce US investments details on Friday
During a Tuesday questioning of the nominee for finance minister, a South Korean legislator said that "U.S. Donald Trump is due to reveal details about Seoul's planned investment in the United States this Friday. Yoon Huduk, a member of the ruling?Democratic Party(DP), made this?assertion while questioning Lee?Hyoungil for hours. He also inquired about the details of the projects that were being discussed as part of Seoul's proposed commitment of $350 billion U.S. Yoon said that Trump is expected to announce South Korea’s investment in the U.S. by the 18th.
Documents show that the allegedly invalid invoices secured a $100 million Mizuho credit for Radiant World.
Mizuho Bank gave Radiant World $100 million worth of 'credits' in June. These monies were secured by invoices which, according to documents and a source who was directly involved in the matter, later proved to be invalid. Radiant World has not responded to any requests for comment made on Friday. The details of credit provided by Mizuho - the banking arm for Japan's Mizuho Financial Group - have never been reported before. Mizuho's spokesperson stated that it has no comments.
EU faces complaints over plans to simplify environmental laws
Environmental campaign groups filed a complaint on Tuesday against the European Commission, accusing it of rushing to overhaul water management and protection laws without enough evidence. This is the latest complaint by environmental groups about the European Union’s efforts to simplify policies and reduce their burden. The strategy, known as EU “omnibus”, was developed in response to complaints made by industries that say heavy laws hinder their ability to compete with rivals such as the U.S. or China.
Sources say that China rare earth firms have halted some US shipments due to geopolitical concerns.
Three sources have confirmed that some Chinese suppliers of rare earths are refusing to ship to the U.S. out of fear for repercussions by Beijing. This highlights the fact that access to these materials is still an issue for Washington, weeks before President Xi Jinping's visit. U.S. officials asked China repeatedly to'stick to the commitments made at Busan and Beijing in the last year to ensure that a'smooth?flow of export licences for rare earths. A source familiar with this work says that the U.S.
Eneos' global ambitions are tested by the Japanese oil giant.
Eneos Holdings is a top Japanese refiner, with a large cash reserve and declining domestic demand. It's currently expanding its overseas footprint and testing its ability of managing assets and diversifying revenue sources. Eneos is looking to expand its fuel business, as it believes that diversification in the core fuel sector will be more profitable than its previous loss-making venture into renewable energy. In May, it announced its $2 billion plus purchase of Chevron’s downstream assets across Asia.
PetroChina's H1 net profit increases by 22% as fuel sales and oil prices spike.
PetroChina, China's largest gas and oil company, reported a 22% increase in its?first-half?net profit on Sunday, thanks to higher oil prices, and stronger fuel sales. A filing at the Hong Kong Stock Exchange showed that net profit attributable shareholders was 103.94 billion Yuan ($14.65?billion), up from 84?billion Yuan a year ago, and revenue rose?5.3%, to 1.5 trillion Yuan. PetroChina, China's largest refiner, processed 693 millions barrels of crude during the first six months…
US tariffs threaten to halt copper's surplus, as prices reach a new high
Analysts say that the prospect of U.S. tariffs on imports could drive copper prices to record levels, even though there's no shortage of the metal in the world. This is because the incentive to ship to the United States will drain inventories from other countries. After recent orders to remove 65,400 metric tons of copper from LME storage, the price of three-month 'copper' on the London Metal Exchange reached as high as $14,343 per metric ton. This is within striking distance of $14,527.50, the previous record. The shortage of supplies was eased.
Sources say that Glencore's exposure in Radiant World is more than $500 Million.
Radiant World is a company that Glencore, the London-listed miner and trader, has stopped doing business with. The exposure amounts to over half a billion US dollars, according to two sources who are familiar with the situation. Bloomberg reported that Vitol Group, Cargill, and other commodity traders have stopped trading with Radiant World - one of the largest iron ore dealers in the world - after finding invoices or documents they provided to banks to be 'invalid.
S&P 500 and Dow futures tempered ahead of jobs data, but chips and software stocks rise
S&P 500 futures and Dow futures were little altered on Friday, ahead of an important U.S. employment report that may influence the interest rate outlook. Nasdaq's futures rose as Microchip Technology's and Atlassian’s strong forecasts helped chip and software shares. Wall Street's major indexes are on course for a strong week of gains. The S&P 500, Dow and Nasdaq all look set to have their best weeks since April. Stronger-than-expected results from AI-related companies this reporting season have propelled the Dow and the S&P 500 to fresh record highs…
US considers tariffs and a price floor for polysilicon to counter China's solar and chip industry
According to four people familiar with the plan, the 'Trump administration' is planning to set a price floor for polysilicon, and to impose tariffs. This will put a material that is critical for solar panels and semiconductors in the forefront of U.S. efforts against China to compete on artificial intelligence and energy. The decision is expected later this month and aims to protect U.S. Polysilicon?factories that are owned by Hemlock Semiconductor or Wacker Chemie against growing Chinese ambitions within the?chip supply chains.
French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. ALTEN: 'French engineering- and technology-consulting firm Alten reported revenues of EUR2.11bn in the first half of 2012 and revised upwards its outlook for?2026, anticipating organic growth between 1.4% and 1.8% as well as operating profitability around 9%. AMG CRITICALMATERIALS: Graphit Kropfmuhl was sold to Asbury 'Advanced Materials' by the Dutch specialty metals and material company AMG - Critical Materials.
EU to charge for emissions from waste incineration
EU officials said that waste incineration plants will be required to pay for their carbon dioxide emissions as part of the EU's plans to add this industry to its emissions trading system. The industry has strongly opposed the plans that aim to encourage'reuse' of material, reduce waste and force operators to invest into emission-capturing technologies. They claim they unfairly penalize incinerator owners instead of the companies who produce non-recyclable materials.
Genel Energy, a Kurdistan-based company, marks Egypt's entry with a $360 million Capricorn acquisition
Genel Energy announced on Thursday that it would?acquire?Capricorn Energy for $360m in a cash-only deal. This will give it a foothold into Egypt, as it looks to diversify its oil assets, which are prone to disruption, in Iraqi Kurdistan. Genel will pay a total of $4.74 for each Capricorn stock, consisting of $3.75 cash and $0.99 in special dividends. This represents a 33 percent premium over the closing price at which Capricorn closed on March 10, a day before Cafani Group, a rival suitor, made its interest in the company public.
The impact of war on Ukraine is shown by the nests of fiber-optic cable birds.
Researchers say that a nest of a small bird made from grass and fibre-optic cables near the front lines of the war in Ukraine shows the impact the conflict has had on the environment. The conflict, which is now more than four years old, has reshaped the natural landscape. The frontline of the 1,200 km (746 miles) front line is covered by ultra-thin fiber-optic cable, which is used by Ukrainians and Russians to guide drones for aerial attacks to make them immune to electronic jamming.
Congo withdraws cobalt export quotas that are not being used
The strategic minerals regulator of the Democratic Republic of Congo announced that it would reassign unused cobalt quota rights to a state-controlled entity. This will tighten control over shipments coming from the top producer in world. In a Monday notice, ARECOMS stated that all export quotas for January-June that are not used by June 30th will be forfeited. Congo, which has more than 70% of the world's reserves of cobalt, implemented export quotas in March and extended first-quarter allocations to the end of June, along with second-quarter allocations.
Andy Home: Copper prices are soaring, but smelters cannot rely on them to survive.
Copper's value for smelters is at an all-time low, despite the price of the metal being near its highest level. This is due to the unprecedented collapse in processing fees. Companies that refine copper concentrate from mined concentrate are now dependent on the value of what comes with it for their survival. Gold, silver, and sulfuric acids are by-products from the conversion process that are just as important to a smelter’s bottom line. China's smelting capacity has expanded far faster than the world's miner's ability to deliver raw materials.