Latest news with #JavelinGlobalCommodities
Bloomberg
01-08-2025
- Business
- Bloomberg
UK Trader Javelin Gets Approval To Buy Stake In US Power Plant
A deal that gives trading house Javelin Global Commodities a stake in an Ohio coal fired power plant received approval from the US Federal Energy Regulatory Commission, according to a July filing. London-based Javelin, one of the biggest exporters of US coal, will take less than 10% of equity in the Gavin power plant, according to the filing. The rest will be owned by Energy Capital Partners, which is also taking over a clutch of other aging power plants in the US Midwest as part of the same deal.
Yahoo
20-06-2025
- Business
- Yahoo
New Fortress Energy Disqualified From Puerto Rico Power Auction, Bloomberg Says
New Fortress Energy Inc. (NASDAQ:NFE) is among the 13 Best Hydrogen and Fuel Cell Stocks to Buy According to Analysts. It has been banned from Puerto Rico's auction for an 800-megawatt temporary power generation contract, dealing a significant blow to billionaire Wes Edens' LNG company. A cutaway view of a modern energy infrastructure and its power generation facilities. The company's bid was declared 'non-conforming' even though it claimed to provide the cleanest, least expensive solution with rapid startup capabilities. New Fortress Energy Inc. (NASDAQ:NFE) did not provide any additional information, but it acknowledged that it had sent Governor Jenniffer González-Colón a letter of reconsideration. The disqualification arises as New Fortress Energy Inc. (NASDAQ:NFE) struggles with rising debt and a roughly 80% decline in market value. Edens recognized 'stringent' auction requirements during a recent earnings call, despite projecting growth in Puerto Rico. The bid list was reduced to Javelin Global Commodities and Power Expectations LLC when Puerto Rico, which suffers from costly and unreliable electricity, requested emergency power bids. Concerns regarding possible lobbying connections among candidates were also brought up in Edens' letter. While we acknowledge the potential of NFE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025. Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-03-2025
- Business
- Yahoo
Fossil fuel, agriculture officials to rail against Trump port fee plan
By Valerie Volcovici and Lisa Baertlein WASHINGTON (Reuters) - Fossil fuel and agriculture industry representatives are expected to criticize the Trump administration's plan to impose big fees on China-linked ships entering U.S. ports during a hearing in Washington on Wednesday, arguing the move would hobble their ability to export everything from coal to soybeans. At issue are proposed fees on China-built vessels that could top $3 million per U.S. port call. The Trump administration says the fees would curb China's commercial and military dominance on the high seas and promote a revival in U.S. shipbuilding, but numerous other U.S. industries, from miners to farmers, worry the fees will instead leave them with huge new costs and a dearth of ships to move their products to market. "The reality today is that there is insufficient supply of suitable vessels for U.S. producers to charter which would enable them to avoid paying these fees," said Peter Bradley, CEO of coal and oil exporter Javelin Global Commodities, in a letter to the U.S. Trade Representative dated March 17. Coal and agriculture officials had told Reuters last week that the proposed fees were already making it difficult to charter ships to export their products and leading inventories to swell. Early market reactions to port fees have already led to a 40% increase in ocean freight cost for commodity shippers, many of which grapple with razor-thin margins, United Grain Corp said in a letter dated March 21. The issue, along with the administration's escalating trade wars with China, Europe, Canada and Mexico, has revealed an unlikely faultline between U.S. President Donald Trump and the fossil fuel and agriculture companies that he had promised to support during his campaigns for office. The USTR's hearing on Wednesday will be the last before the administration makes a decision on the proposal. During a hearing on Monday, ship operators complained the fees would hurt their businesses, while representatives of the steel industry expressed their support. At Wednesday's hearing, speakers will include representatives of the American Petroleum Institute, the National Mining Association, the North American Export Grain Association, and the Agriculture Transportation Coalition, according to the schedule.
Reuters
26-03-2025
- Business
- Reuters
Fossil fuel, agriculture officials to rail against Trump port fee plan
Summary US industries oppose $3 million fees on China-linked ships US shipping fees on China vessels face industry backlash China-linked ship fees spark US industry concerns WASHINGTON, March 26 (Reuters) - Fossil fuel and agriculture industry representatives are expected to criticize the Trump administration's plan to impose big fees on China-linked ships entering U.S. ports during a hearing in Washington on Wednesday, arguing the move would hobble their ability to export everything from coal to soybeans. At issue are proposed fees on China-built vessels that could top $3 million per U.S. port call. The Trump administration says the fees would curb China's commercial and military dominance on the high seas and promote a revival in U.S. shipbuilding, but numerous other U.S. industries, from miners to farmers, worry the fees will instead leave them with huge new costs and a dearth of ships to move their products to market. "The reality today is that there is insufficient supply of suitable vessels for U.S. producers to charter which would enable them to avoid paying these fees," said Peter Bradley, CEO of coal and oil exporter Javelin Global Commodities, in a letter to the U.S. Trade Representative dated March 17. Coal and agriculture officials had told Reuters last week that the proposed fees were already making it difficult to charter ships to export their products and leading inventories to swell. Early market reactions to port fees have already led to a 40% increase in ocean freight cost for commodity shippers, many of which grapple with razor-thin margins, United Grain Corp said in a letter dated March 21. The issue, along with the administration's escalating trade wars with China, Europe, Canada and Mexico, has revealed an unlikely faultline between U.S. President Donald Trump and the fossil fuel and agriculture companies that he had promised to support during his campaigns for office. The USTR's hearing on Wednesday will be the last before the administration makes a decision on the proposal. During a hearing on Monday, ship operators complained the fees would hurt their businesses, while representatives of the steel industry expressed their support. At Wednesday's hearing, speakers will include representatives of the American Petroleum Institute, the National Mining Association, the North American Export Grain Association, and the Agriculture Transportation Coalition, according to the schedule.
