Latest News
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South Korea's MFG bids for 140,000 t corn, traders claim
The Major Feedmill Group of South Korea (MFG) issued an international tender on Thursday to purchase animal feed corn up to 140.000 metric tons. The deadline to submit price bids in the tender is March 14, Friday. Two consignments of corn, each weighing up to 70,000 tonnes, are expected in South Korea between June and July. The corn can be sourced from South America, the United States or South Africa. They said that the MFG also seeks separate offers of up to 140,000 tonnes of corn from South America and South Africa for arrival in June and July only. Shipping of one consignment optional origin corn to South Korea for arrival on June 23 was sought from May 20 to June 8 if it is sourced from U.S. Pacific Northwest Coast, April 30 May 19 from U.S. Gulf coast, April 25-May 14, from South America, or May 5-24 if it is sourced from South Africa. The second consignment with an optional origin for arrival on July 3, South Korea, is to be shipped between May 30 and June 18 if it comes from the U.S. Pacific Northwest Coast, or between May 10 and May 29 if it comes from the U.S. Gulf. The tender is seeking price offers both in terms of outright cost per ton and freight included (c&f), or at a higher premium than the Chicago corn contract for July 2025. (Reporting and editing by Tomaszjanowski, with Michael Hogan)
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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. Airbus Airbus signed a letter with DRF Luftrettung on Wednesday for the purchase 10 H140 helicopters. The New York State Police also placed an order for an Airbus H160, three H145 helicopters and signed a contract with Omni to buy three H160 helicopters. Lotus Bakeries Lotus Bakeries announced Wednesday that it will expand its partnership with Mondelez International into the Ice Cream category. ID Logistics ID Logistics released its annual results for 2024 on Wednesday. Pluxee Pluxee launched its first commercial paper program, NEU CP (up to 400 millions euros), on Wednesday. Jacquet Metals Jacquet Metals published its annual results for 2024 on Wednesday. Euronext Euronext announced on Wednesday that Montea would be included in the BEL20 index from 24 March, and Galapagos would be excluded. Legrand Legrand announced a 500-million euro bond issue on Wednesday. Pan-European market data: European Equities speed guide................... FTSE Eurotop 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... survey of world bourse outlook......... European Asset Allocation........................ News at a glance: Top News............. Equities.............. Main oil report........... Main currency report.....
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Australia regulator: household electricity bills in eastern States set to increase by 9%
The energy regulator in Australia said that electricity prices could rise by almost 9% between July and now. This would put the re-election hopes of the centre-left Government at risk, as businesses and households struggle with higher costs. After a draft decision was made to increase the default market price - the maximum energy retailer can charge customers - AER expects household power bills in Southeast Queensland, South Australia, and New South Wales to rise by between 2.5% and 8,9%. AER stated that small businesses could see an increase of between 4.2% and 8.2%. AER Chair Clare Savage stated that wholesale costs and network costs, the two major components that affect market prices, increased between 2% to 12% for many customers. Savage stated in a press release that "we have carefully scrutinized every element of (default market offers) cost stack" to ensure the prices reflect the actual costs incurred by a retailer for the supply of electricity. Savage stated that outages at coal fired power stations and low solar and wind production coupled with high demand has triggered price spikes for power in Australia. Two-thirds (or 63%) of the country's power is generated by coal and gas-fired plant. The Essential Services Commission of Victoria, which sets default prices for the state, predicted an annual average rise for households of less than 1 percent, or A$12 ($8) and for small businesses A$103 ($65). Chris Bowen, federal energy minister, said that AER's draft of the decision highlighted the urgency to integrate cheaper sources of energy such as renewables in the grid. He encouraged customers to choose the most competitive plans on the market. Bowen, in a press release, said that while the news today is mixed, it shows energy retailers are responding. Labor's government led by Anthony Albanese, which is currently in the rear of polls, will be facing a mid-May national election as it struggles with gaining support, despite numerous measures that are meant to benefit families and business.
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DHL Group CEO: Global trade will grow despite US tariffs
Tobias Meyer, CEO of the DHL Group in Germany, said that global trade will grow, but less vigorously, due to the reaction to President Donald Trump’s tariff policies. Meyer noted that this segment was experiencing positive growth. According to DHL Trade Atlas 20, prepared by the delivery company and New York University’s Stern School of Business, the global goods trade will expand at a 3.1% compound annual growth rate from 2024-2029. This is a slightly faster rate than the previous decade. DHL is the parcel shipping arm of Germany's Deutsche Post AG. It's one of the largest package delivery companies in the world. United Parcel Service, FedEx and their U.S. rivals are considered economic bellwethers as they cater to a wide range of industries in many countries. The DHL Trade Atlas states that India, Vietnam Indonesia and the Philippines will lead the trade growth between 2024 and 2029. They said that even if the U.S. government implements its entire proposed tariff increase and other countries retaliate in kind, the global trade will still grow over the next 5 years, but at a slower pace. The United States is both the largest importer of goods and second largest exporter. The U.S. shares of world exports and imports are currently 13% and 9% respectively. This is enough to make a significant impact on other countries, but not to determine the future of international trade unilaterally, according to the authors. Reporting by Lisa Baertlein, Los Angeles; Editing and proofreading by Lisa Shumaker
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CERAWEEK - US Interior Secretary urges more drilling and mining on public lands
U.S. Interior Secretary Doug Burgum said to a room full of energy executives that he wanted their industries, which include mining and drilling on America's Public Lands, to increase the amount of these activities. He told them: "We love YOU! ". Burgum's remarks at the CERAWeek conference in Houston highlighted President Donald Trump’s agenda of reducing red tape to free up fossil fuels and metals. He told the crowd, "If we are going to drill baby drill, we must also be asked to mine baby mine." Oil prices are at a three-year low, but it is unclear whether energy companies will increase investment. Burgum believes that the Trump administration could unwind 20% to 30% of the country’s regulations and estimates that this would sharply reduce the cost of oil production. He said that the National Energy Dominance Council he heads, which coordinates government policies in order to maximize production, would focus on speeding up project approvals for energy and mining projects. Burgum said that increasing the U.S.'s electricity generation and transmission capability is crucial to winning "AI arms races" with China. Burgum said that he believed that enforcing the sanctions against Iran, which aim to reduce its oil exports to zero could stop that country from funding "terrorist groups." (Reporting and editing by Leslie Adler; Timothy Gardner)
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Seafarers union: UK ship crash investigation must be transparent
The collision between a tanker ship and container ship near the English coast must be investigated transparently and with international coordination, said a union of seafarers on Wednesday. The Solong cargo ship, which was flying the Portuguese flag, collided with the Stena Impeccable, a tanker anchored in the water that carried U.S. military aircraft fuel, on Monday. The collision resulted in massive fires and explosions. The 36 crew members were brought to land. The International Transport Workers' Federation, the largest seafarers' trade union, called on all jurisdictions to work together to determine how the incident occurred. Stephen Cotton, ITF General Secretary said that "there are still many unanswered questions in the aftermath of this tragedy." (Reporting and writing by Jonathan Saul; editing by William James).
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If Trump's trade war escalates, Canada may restrict its oil exports.
Jonathan Wilkinson, Canada's Energy Minister, said that if the trade dispute escalates with the U.S. further, Canada may take non-tariff steps such as limiting its oil exports or levying duties on exports. "When we talk about non-tariff reprisal, it can be about restricting the supply or putting our export duties on products. Wilkinson told a reporter that it could go beyond energy and minerals. He also suggested that non-tariff measures could be used on minerals of critical importance, forcing the U.S. even more to depend on China. He said, "Everything's on the table." Canada is the largest supplier of oil imported to the United States. It provides around 4 million barrels a day, mainly to Midwest refineries that are designed to run the Canadian grades. Alberta, the province that produces most of Canada's crude oil, would resist any attempts to limit exports. "It is not on the table." "Zero," said Alberta Premier Danielle Smith at the CERAWeek Conference in Houston, Texas on Wednesday. Alberta owns most of the oil and natural gas that is exported to the United States. She said that they would never do this to their friends or allies. Smith continued, "the temperature has cooled a little, the trade war has de-escalated." The increased tariffs by President Donald Trump on imports of steel and aluminum went into effect on Wednesday. They now amount to 25%, as the exemptions have ended. Canada announced 25% retaliatory duties on these metals, along with computers and sports equipment worth $20 billion. Canada has already imposed a tariff of a similar value on U.S. products in response to Trump's broader tariffs. Canada has limited options for sending oil to other markets, so any restrictions on Canada's oil imports from the United States will hurt Canadian producers. Wilkinson stated that the Trans Mountain pipeline, as well as rail, could be used to transport some Canadian oil. He added, "I don't believe the threat to Canada’s oil producers is as great as it might be in other sectors." Greg Ebel CEO of Canadian pipeline operator Enbridge said that restricting oil exports into the United States was "an unwise decision". Wilkinson said that Canada may impose tariffs on U.S. Ethanol as part of the second tranche of trade sanctions if Trump escalates the trade war. Wilkinson stated that U.S. Ethanol, an important trade product for U.S. Farmers, would be "absolutely" included in the list if Trump were to move forward with his plans to impose tariffs of 25% on Canadian goods by April. Exports of U.S.-made ethanol to Canada have reached record levels in recent months, helping Canada to meet its clean fuel program. Wilkinson stated that it is cheaper than Canadian ethanol due to the subsidies provided by the U.S. Renewable Fuel Standard. According to the U.S. Energy Information Administration, U.S. Farmers sent a record 1,54 million gallons (roughly double) of ethanol to Canada last September, roughly twice the amount three years earlier. Reporting by Jarrett Renshaw in Houston and Arathy Sommesekhar; Editing and proofreading by Nia and Lincoln Feast
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Excelerate's exec: Argentina will only import LNG from one terminal in winter
A company executive confirmed that Argentina had not requested an extra floating regasification facility from Excelerate Energy in the coming winter, because the South American nation plans to import less liquefied gas this year. Derek Wong (Excelerate's Vice President of Government Relations) told the CERAWeek Conference in Houston, that the floating storage unit and regasification facility (FSRU), the company's only import facility, could be sufficient to meet the demand this year depending on the weather. In the past, Argentina has faced high costs for LNG imports. However, an increase in domestic production of natural gas and LNG cargos has led to a reduction in imports via pipeline of gas from Bolivia. Daniel Gonzalez, Vice-Minister of Economy and Energy in Argentina, said at a conference earlier this week that this year the country would import less LNG than last year. He declined to provide figures. Gas consumption can increase in Argentina during the cold winters of the Southern Hemisphere, which sometimes requires the installation of another FSRU. In the past two years, between 41 and 42 cargoes have been imported via FSRUs in Bahiablanca and Escobar. After President Javier Milei’s economic reforms last year, Argentina had a $5.7 Billion surplus in its energy trade balance. This was a huge achievement for a nation that struggled to cover energy import costs previously.
Japan's Mount Fuji eyes China-made tram to transfer hikers, source says
Japanese authorities seeking to lower the carbon footprint and overcrowding at Mount Fuji will propose a trackless, rubbertyred cable car system made by China's CRRC to transport climbers, a person with direct understanding of the plan stated.
The brand-new proposition, which has not been formerly reported, would change the original plan to develop a light-rail system linking the base to the fifth hiking station of the popular Yoshida Path to the top after a local city and other celebrations, voiced issue over its ecological and expense effect.
Yamanashi Prefecture, home of the most popular path utilized by climbers of the 3,776-metre (12,3388-foot) volcano, is set to announce the plan soon, the individual told Reuters, requesting for anonymity due to the fact that the info is not yet public.
Mount Fuji, which straddles Yamanashi and Shizuoka prefectures, is among the most popular traveler locations in Japan, whose numbers have actually surged over the last few years.
Pollution from the consistent stream of tourist buses and cars getting to the 5th station, in addition to overcrowding on the tracks, have actually become headaches for authorities seeking to clean up the site, which Japanese people hold spiritual.
Mount Fuji was noted as a UNESCO World Heritage site in 2013, even more boosting its appeal. However the difference began the condition that Japan decrease overcrowding, ecological damage from visitors, and repair the artificial landscape, such as the big car park constructed to accommodate tourists.
Shanghai-listed CRRC's Autonomous Rapid Transit is a new-generation tram that uses magnetic road markings and can be operated unmanned.
Yamanashi prefecture plans to utilize in your area produced hydrogen to power the cable car, the source stated. The transit system is expected to slash the task's cost by as much as 40% from the roughly 140 billion yen ($ 895 million) estimated for the rail system, stated the source.
The new plan would allow the prefecture to utilize the existing Fuji Subaru Line toll road and restrict the entry of all personal lorries and sightseeing buses, the individual stated. The prefecture hopes to perform a pilot run as early as the next beginning in April.
Yamanashi is also aiming to develop a tram network that would encompass regional towns and connect to a magnetic levitation rail system planned by Central Japan Train in the 2030s, the individual stated.
Yamanashi prefecture declined to talk about the plan.
Throughout the summertime climbing up season between July to September this year, the mountain hosted 204,316 climbers. Authorities have stated they wanted to manage the variety of visitors through a. public transit system.
(source: Reuters)