South Korean KFA wins 69,000 T corn bid, traders claim

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• South Korean KFA wins 69,000 T corn bid, traders claim

  European traders reported that the Korea Feed Association in South Korea (KFA) rejected all bids and did not make any purchases during a Friday tender to purchase up to 69,000 tons of animal feed grain sourced only from the United States or South America. The traders said that the prices offered were too high. They said the lowest price was $237.49 per ton, cost and freight included (c&f), plus $1.50 for port unloading. The traders noted that this price was higher than the $234.19 or $234.90 per ton c&f which Korean importer NOFI paid in an international bid on Thursday. This is partly due to a rise on Chicago corn futures, they said. The KFA Busan section wanted corn to arrive in South Korea by March 2025. Michael Hogan reports.

• Malaysia's missing MH370 airplane: What we know, 10 years on

  The disappearance ten years ago of Malaysia Airlines flight MH370 with 239 individuals on board stays one of the world's biggest aviation mysteries. The Boeing 777 went missing on its method from Kuala Lumpur to Beijing on March 8, 2014. Satellite data analysis revealed the plane likely crashed somewhere in the southern Indian Ocean, off the coast of western Australia. Nevertheless, 2 significant searches stopped working to come up with any significant findings. Here are some information of the look for MH370 and the unresolved secret of what occurred: WHAT IS KNOWN? The last transmission from the plane was about 40 minutes after it took off from Kuala Lumpur for Beijing. Captain Zaharie Ahmad Shah signed off with Good night, Malaysian 3 7 no, as the aircraft entered Vietnamese air space. Shortly afterwards, its transponder was shut off, which implied it might not be easily tracked. Military radar showed the plane left its flight path to fly back over northern Malaysia and Penang island, and then out into the Andaman Sea towards the suggestion of the Indonesian island of Sumatra. It then turned south and all contact was lost. UNDERSEA SEARCHES Malaysia, Australia and China introduced an underwater search in a 120,000 sq km (46,332 sq miles) location in the southern Indian Ocean, based on information of automated connections in between an Inmarsat satellite and the airplane. The search, which cost about A$ 200 million ($ 143 million),. was called off after 2 years in January 2017 with no traces of. the aircraft found. In 2018, Malaysia accepted a no-cure, no-fee offer from. U.S. expedition company Ocean Infinity for a three-month search,. implying the company would only get paid if it found the aircraft. That search covered 112,000 sq km (43,243 square miles). north of the original target area and likewise proved fruitless,. ending in May 2018. PARTICLES More than 30 pieces of thought airplane particles have been. collected along the along the coast of Africa and on islands in. the Indian Ocean, however only three wing fragments were confirmed. to be from MH370. Most of the particles were used in drift pattern analysis in. the hopes of limiting the aircraft's possible location. EXAMINATION REPORT A 495-page report into MH370's disappearance, published in. July 2018, said the Boeing 777's controls were likely. intentionally controlled to take it off course, but. investigators could not determine who was accountable. The report likewise highlighted mistakes made by the Kuala. Lumpur and Ho Chi Minh City air traffic control centres and. provided recommendations to prevent a repeat event. Private investigators stopped short of offering any conclusions. about what took place to MH370, saying that depended on finding. the airplane's wreckage. CONSPIRACY THEORIES The failure to locate MH370's crash site has sustained. numerous conspiracy theories, varying from mechanical error or a. remote-controlled crash, to more strange descriptions like alien. kidnapping and a Russian plot. Recently, some air travel specialists have said one of the most. most likely explanation was that the plane was deliberately removed. course by a knowledgeable pilot. Investigators, however, have. said there was absolutely nothing suspicious in the background, monetary. affairs, training and mental health of both the captain and. co-pilot. RESUMPTION OF SEARCH Malaysia's transportation minister announced on Friday the. government had actually concurred in principle to resume the search for the wreckage following a new proposal from Ocean. Infinity, which would receive $70 million if substantive. wreckage is discovered. The new search, when a contract is signed, would expand. the previous search location by 15,000 sq km, the minister said. The. contract would cover 18 months and the firm had actually shown the. best time for the search would be in between January and April.

• Malaysia states it will resume look for wreckage of missing out on Flight MH370

  Malaysia has concurred in concept to resume the look for the wreckage of missing Malaysia Airlines Flight MH370, its transportation minister said on Friday, more than ten years after it disappeared in among the world's biggest air travel mysteries. Flight MH370, a Boeing 777 carrying 227 travelers and 12 team, disappeared en route from Kuala Lumpur to Beijing on March 8, 2014. Transport Minister Anthony Loke stated the proposal to search a brand-new location in the southern Indian Ocean originated from exploration firm Ocean Infinity, which had actually also performed the last search for the aircraft that ended in 2018. The firm will receive $70 million if wreckage found is substantive, Loke told a press conference. Our obligation and obligation and dedication is to the near relative, he said. We hope this time will be favorable, that the wreckage will be found and provide closure to the families. Malaysian private investigators at first did not eliminate the possibility that the aircraft had actually been intentionally removed course. Particles, some validated and some thought to be from the aircraft, has cleaned up along the coast of Africa and on islands in the Indian Ocean. More than 150 Chinese passengers were on the flight, with loved ones demanding compensation from Malaysia Airlines, Boeing, aircraft engine maker Rolls-Royce and the Allianz insurance group among others. Malaysia engaged Ocean Infinity in 2018 to browse in the southern Indian Ocean, providing to pay up to $70 million if it found the aircraft, but it stopped working on two attempts. That followed an underwater search by Malaysia, Australia and China in a 120,000 sq km (46,332 sq mile) location of the southern Indian Ocean, based upon information of automated connections between an Inmarsat satellite and the plane.

• South Korea's KFA bought 67,000 T corn in private offer, traders say

  The Korea Feed Association ( KFA) in South Korea is thought to have actually bought about 67,000 metric lots of animal feed corn in a personal offer on Thursday without issuing a global tender, European traders stated on Friday. It was thought to have actually been purchased by the KFA's Incheon area from Japanese trading house Mitsui at an approximated $ 233.99 a ton expense and freight (c&& f) consisted of. The KFA's Incheon section is also called the Feed Purchasers' Group. It can be sourced from the United States, South America or South Africa. If South African corn is picked, just 50,000 lots need be supplied. It was for arrival in South Korea around March 23, 2025. If sourced from the U.S. Pacific Northwest coast delivery is in between Feb. 8 and March 8. Reports show assessments from traders and more estimates of prices and volumes are still possible later. The deal continued heavy buying of corn by Korea on Thursday with other offers amounting to over 330,000 heaps reported.

• South Korea's KFA tenders to purchase up to 69,000 metric tons corn

  The Korea Feed Association ( KFA) Busan area has actually provided a worldwide tender to acquire up to 69,000 metric lots of animal feed corn to be sourced from the United States, South America or South Africa, European traders stated on Friday. The tender likewise closes on Friday, Dec. 20, they said. The corn was sought for arrival in South Korea around March 15-20, 2025, in one consignment of in between 50,000 and 69,000 loads. If sourced from the U.S. Pacific Northwest coast, the delivery is sought between Feb. 14-March 5, from the U.S. Gulf between Jan. 25-Feb. 13, from South America between Jan. 20-Feb. 8 or from South Africa between Jan. 30 and Feb. 18. Deals were sought both in straight-out rates per load c&& f and at a premium over the Chicago March 2025 corn agreement, traders said. Korean corn purchasing has actually risen before the Christmas and New Year holidays as Chicago corn futures have actually fallen from over five-month highs hit recently, due in part to projections of smaller sized U.S. inventories. On Thursday, leading South Korean animal feed maker Nonghyup Feed Inc. (NOFI) purchased 136,000 lots of corn in a global tender while around 200,000 lots were also purchased in a series of private offers by individual importers.

• Amprion, Hitachi Energy sign over $2 bln agreement for German converter stations

  Hitachi Energy, a. Swissbased provider of power technology and electrification,. said on Friday it has signed contracts worth more than $2. billion with German grid operator Amprion for four. converter stations. The stations for the high-voltage grid operator's Korridor B. job contribute to Germany's energy shift, which. requires the updating and building of power lines to prepare. them for linking thousands of wind turbines and photovoltaic panels. Korridor B, a direct existing link, will comprise of one 2. gigawatt (GW) power line to run in between Heide and Polsum, and. another 2 GW one from Wilhelmshaven to Hamm-Uentrop. It will bring wind power from the North to the populous. commercial state of North Rhine-Westphalia by the early 2030s. In 2023, over 10% of wind power created in northern. Germany was cut due to grid constraints, a defect in the. transition that new point-to-point lines will help remedy. Hitachi Energy's high-voltage direct present (HVDC). converters are required to link the new facilities to legacy,. alternating, power distribution systems. Amprion, 25.1% owned by energy RWE, operates an 11,000. kilometre grid extending from the North Sea to the Alps. Hitachi Energy stated it task will create 2,100 direct and. indirect tasks, with 80% located in Germany.

• China's Xi prompts bigger international function for betting hub Macau

  China's President Xi Jinping stated Macau should keep up with the trend of the times and play a bigger function on the international stage, as he urged the world's most significant gambling center never ever to be contented and program guts to alter and innovate. Xi called for Macau to scientifically plan its future advancement and more actively connect with national advancement methods consisting of the country's Greater Bay Area, which consists of the neighbouring monetary centers of Hong Kong and Guangdong province, according to remarks posted by the Xinhua main news agency on Friday. He had actually been speaking at a gala dinner on Thursday at the Macau Dome, located along with the city's Las Vegas-style Cotai strip. Xi also called for Macau to be more open and inclusive to recruit talents from all over the world and show higher accomplishments on the worldwide phase. Xi showed up in the previous Portuguese enclave on Wednesday for a three-day see to mark a quarter century of Beijing's guideline. He has actually been visiting different areas of the city including its universities and special financial zones. Xi's trip to the world's biggest gaming center is his third as president. He last visited in 2019 when anti-government protests were rocking the former British colony of Hong Kong. A special administrative region of China, Macau is the only place in the nation where gaming is legal, and its economy is heavily based on the casino industry, which contributes about 80% of local tax earnings. Located on China's southern coast, Macau went back to Chinese rule on Dec. 20, 1999, governed under the very same one country, 2 systems formula as Hong Kong. Xi prompted Macau not to be contented and be brave to alter and innovate and make much better use of the one country, 2 systems framework Macau is governed under.

• India, Australia lighten up new share sales potential customers for 2025 in Asia Pacific

  Dealmakers expect the momentum for new share sales in India, now the world's busiest market for initial public offerings, and Australia in 2025 will cushion the effect of slow Chinese handle the Asia Pacific. The Mumbai-based National Stock market outranked the larger U.S. exchanges in the quantities raised by IPOs for the very first time, driven by India's robust economic development and significantly active domestic financiers, following the rush of IPOs in 2024. There was a 149% increase in the value of IPOs in India in the previous year to $18.4 billion, according to LSEG data, which contributed to total equity capital market activity nearly doubling. The Indian exchange represented 16.8% of worldwide market share for IPOs, outranking the New York Stock Exchange and Nasdaq, the data revealed. Within emerging market portfolio nations, India is the brilliant spot, said Peihao Huang, JPMorgan's co-head of Asia Pacific equity capital markets. Our forecast is for 2025 to outperform 2024 based upon the pipeline presence, however that will to a particular degree depend on where the Fed rates will be, and where other markets within emerging markets carry out, for instance, (if there is) a. strong China recovery, Huang included. Besides India, two major offers - HMC Capital's A$ 2 billion. ($ 1.25 billion) Digico REIT listing and junk food chain. Guzman y Gomez's A$ 335.1 million IPO - assisted. Australia's dormant new share sale market record a 294% jump in. year-on-year volume in 2024. Regardless of being the largest Australian IPO for 6 years,. data centre owner Digico saw its shares fall by as much as 20% in the. initially two days of trading after plunging below the issue cost. in the first trading session last week. The recent frustrating performance of the most recent batch of. IPOs, excluding GYG, means that for future deals, there will. need to be a reset on price expectations to satisfy investor. demand, stated Ron Shamgar, head of Australian equities at TAMIM. Asset Management. However, a lack of significant IPOs in the previous three years before. Digico and an increasing number of big business being removed. the ASX has actually fuelled investor need for new stocks, Macquarie's. co-head of Asia Pacific ECM Georgina Johnson stated. Large deals that are well supported and trade well. in the after market will provide vendors and listed financiers. self-confidence, Johnson said, adding that personal equity business. will be wanting to IPOs due to their depressed asset. appraisals over the last few years. CHINA DIRECT EXPOSURE The Asia Pacific area as a whole saw a 33% fall in IPO. volume this year, while the value of Chinese IPOs remained weak. with $13.3 billion worth of brand-new share sales in 2024, according. to LSEG, a nearly 74% decrease from last year. Regulators in mainland China and Hong Kong have told some of. the world's biggest banks to help speed up Chinese business'. listings in the city, Reuters reported on Dec 9, mentioning sources. with knowledge of the matter. In Hong Kong, an overall of $5.3 billion was raised via IPOs,. somewhat below $5.7 billion in 2023, the LSEG information showed. Considering secondary listings like Midea's $4. billion deal in September and SF Holding's $750 million. handle November, share sale volumes increased to $10.6 billion in. 2024 from $5.9 billion in 2015. Dealmakers are enthusiastic China's economic stimulus measures. will trigger investors to increase direct exposure to mainland equities. in 2025. Hong Kong's Hang Seng Index is up about 20%. considering that the first stimulus procedures were revealed in September. While questions remain as to whether the policies will. work, the fact is that Chinese stimulus policies remain in place to. shock the economy and boost the market, stated James Wang,. Goldman Sachs' co-head of Asia ex Japan ECM. Previous expectations were that China might become worse. Now. the stimulus and consequent market rally has actually provided the. self-confidence to look at valuations..

• Nike results beat low expectations; CEO alerts turn-around will be a slog

  Nike's results beat modest estimates on Thursday and its shares jumped quickly, however the business quickly dashed investor hopes and sent out shares lower when a. magnate anticipated revenues would fall by double digits in. the third quarter. Nike's brand-new CEO Elliot Hill alerted of short-term pain as. the embattled sportswear seller works to revive tepid demand for. its brand names. Shares of Nike surged 11% immediately after the. earnings report however gave up those gains after Hill and CFO. Matthew Good friend reined in expectations. Hill said in his very first incomes call given that taking the. helm in October that Nike lost its fascination with sport,. vowing to right the ship by refocusing its service on sport and. selling more products at premium prices. Nike's quarterly profit beat modest expectations. Income also fell less than expected as more recent variations of. performance and running shoes attracted shoppers. So far this year, Nike shares have slumped almost 30%. Analysts said Hill faces difficult critics and a long slog to claw. back lost market. Hill informed the call he was focusing on rebuilding Nike's. retail collaborations, improving innovation and ensuring discount rates. and promos are restricted to traditional retail moments, and. not at the constant rates at which they have been employed. lately. We've ended up being far too marketing, Hill stated, speaking in. vibrant, impassioned tones. The level of markdowns not just. effects our brand however interrupts the total marketplace and the. profits of our partners. With rivals releasing more comfy, much better cushioned. shoes, Nike has actually been rushing to restore dominance in the. market, spending cash to introduce brand-new products like Air. Max 95, and to promote essential franchises like Jordans and. Pegasus. Last month, the business under Hill revealed it would double. down on 3 running franchises - Pegasus, Structure and Vomero. - by launching numerous versions of each shoe next year, at. various cost points. Hill has been popular with sellers, who are positive. he'll restore the third-party partnerships Nike backed away from. in 2020, when it rotated toward its direct-to-consumer business. At the time, some merchants rapidly filled rack space with. fashionable competitors like On and Hoka, but others had a hard time. Foot Locker, for instance, continued to rely greatly on Nike. in 2022 and 2023, buying 65% of its sports clothing from the. business. It blamed weak demand for Nike shoes when it reported. frustrating sales earlier this month. Foot Locker executives. said at the time they were anticipating working with Hill. Nike's second-quarter net profits fell 7.7% to $12.35. billion. Analysts had actually anticipated a 9.41% fall to $12.13 billion,. according to estimates compiled by LSEG. Nike reported revenues per share of 78 cents, compared with. price quotes of 63 cents per share, according to experts price quotes. assembled by LSEG. If you truly look at it, the numbers are not good, stated. Jane Hali & & Associates senior expert Jessica Ramirez. However it's. much better than most people feared..

• South Korea's MFG purchases another 68,000 T corn in private offer, traders state

  South Korea's Major Feedmill Group (MFG) bought another 68,000 metric lots of animal feed corn in a 2nd personal deal on Thursday without providing an international tender, European traders said. This remained in addition to another private offer for 67,000 tons of corn previously on Thursday. The 68,000 ton consignment was purchased an estimated $ 234.80 a ton expense and freight (c&& f) included plus a $1.50. surcharge for additional port unloading. The purchase was expected to be sourced from the United. States, from South America or South Africa. If the corn is. sourced from South Africa, only 50,000 loads need be supplied. Seller was thought to be trading home Cargill with arrival. in South Korea around March 25, 2025. If sourced from the U.S. Pacific Northwest coast, shipment is in between Feb. 9 and March. 10. Reports reflect evaluations from traders and further. estimates of prices and volumes are still possible later.

• South Korea uses Equinor drifting wind power contract

  Norwegian energy business Equinor has actually gotten an offer from the South Korean government for a fixedprice power purchase arrangement for a. 750megawatt (MW) drifting offshore wind task, the business. stated on Thursday. We have actually gotten an offer for an offtake agreement for our. Bandibuli task, an Equinor representative told Reuters. The business will now deal with the South Korean authorities. on the details of the offer before possibly signing a. agreement, the representative included. Floating overseas wind is still an immature technology. requiring government assistance and, at 750 MW, Bandibuli is among. the most significant drifting overseas wind projects internationally. A final investment decision for the project, located 70 km. ( 43.5 miles) off the south-east coast of South Korea, is at. least one to 2 years away and is dependent on making sure a. competitive return, the representative said. Equinor is likewise seeking a partner for the task, he included. South Korea's Ministry of Trade, Industry and Energy (MOTIE). announced earlier on Thursday that the 2024 bidding round had. awarded 1,886 MW of fixed-price contracts for overseas wind,. including a very first award for a floating wind job. The ceiling price for the tender had actually been set at 176,565 won. ($ 121.96) per megawatt hour (MWh). However, consisting of a multiplication factor to reflect. innovation and area of jobs, the deal for drifting wind. was around 500,000 won, roughly $350/MWh, a source acquainted with. the conditions said. By contrast, a 400-MW floating overseas wind farm off. Scotland was awarded a strike price of 139.93 pounds ($ 176.35),. quoted in 2012 rates, at an auction round in September.

• South Korea's NOFI purchases estimated 136,000 T corn, traders say

  Leading South Korean animal feed maker Nonghyup Feed Inc. (NOFI) bought an estimated 136,000 metric tons of animal feed corn in a worldwide tender on Thursday, European traders stated. The corn was bought in 2 consignments estimated at 68,000 lots. One was purchased an estimated straight-out price of $234.19 a. heap cost and freight (c&& f) for March 15 arrival, the second at. an approximated outright cost of $234.90 a c&& f for March 25. arrival. The seller of both consignments was thought to be trading. home Viterra. Both have an additional $1.50 a ton additional charge for. extra port discharging. If the March 15 consignment is sourced from the U.S. Pacific. Northwest coast, delivery is looked for between Feb. 10 and March 1,. if from the U.S. Gulf in between Jan. 21 and Feb. 9, from South. America in between Jan. 16 and Feb. 4, or from South Africa in between. Jan. 26 and Feb. 14. If the March 25 consignment is sourced from the U.S. Pacific. Northwest coast, shipment is in between Feb. 20 and March 11, from. the U.S. Gulf between Jan. 31 and Feb. 19, from South America. between Jan. 26 and Feb. 14, or from South Africa between Feb. 5. and Feb. 24. Asian purchase interest has been triggered as Chicago corn. futures have actually fallen from their greatest in more than 5 months. struck last week, due in part to forecasts of smaller sized U.S. stocks. Two other Korean corn purchases were also reported on. Thursday. Reports reflect assessments from traders and further. estimates of prices and volumes are still possible later on.