Saturday, October 31, 2015

Another Carjacking Ring in New Jersey

Last year a carjacking ring was broken up.   I wrote about it in this blog posting.

Your Stolen Car is In West Africa

Now, another carjacking ring operating mainly in New Jersey was broken up.  They were going after specific high end cars.   If you drive a black Mercedes S550, take extra precautions.

From The Waterfront Commission

Law enforcement partners in “Operation 17 Corridor” recovered 90 cars worth over $4 million
October 28, 2015
           TOTOWA, N.J. – Acting Attorney General John J. Hoffman announced that 21 men have been charged in the takedown of a major international carjacking and stolen car trafficking ring that stole luxury cars from suburbs along the Route 17 corridor in New Jersey and neighboring New York, as well as other suburban communities in northern and central New Jersey, shipping the cars to West Africa where they command premium prices. Eighteen men were arrested yesterday on charges including first-degree racketeering, carjacking and money laundering as a multi-agency team fanned out to execute arrest warrants. Three men are being sought as fugitives on arrest warrants.

click here complete report

Thursday, October 29, 2015

Hapag-Llloyd IPO

Hapag-Lloyd has been trying to do an IPO for a few years.  The world economy is not making this easy, and once again they have postponed it for a few days, because their competitor Maersk, downgraded their forecast.

Hapag-Lloyd says their forecast is unchanged.  They are not as involved in the Asian trade as Maersk, and Maersk also has much more exposure in the oil exploration and transportation than Hapag-Lloyd, so I think
Hapag-Lloyd is probably valid to hold to their forecast.

Here's what Reuters reported
German container shipping group Hapag-Lloyd [HPLG.UL] is postponing its stock market debut by a week after investors turned its back on the company following peer Maersk's (MAERSKb.CO) profit warning, two sources told Reuters.
If demand for the shares remains weak Hapag may lower the offer price, the people familiar with the deal said on Tuesday, adding that cancelling the IPO also remained an option.
Hapag-Lloyd said it was extending the offer period for its initial public offering (IPO) by a week to Nov. 3, with trading now likely to start on Nov. 6.
"The order book had been more than one time subscribed. Now the main goal is to get investors to come back who have shied away due to Maersk," one of the people said.
Hapag-Lloyd reiterated that its earnings outlook remained unchanged, despite peer Maersk's (MAERSKb.CO) slashing its 2015 profit targets last week.

Monday, October 26, 2015

Don't do business with Medrano Express, also known as Diamond Shipping

I don't know the history behind this company, but many people got taken for a ride.

A news release from the N.C. Attorney General's Office said Medrano Express, Diamond Shipping, Inc. and Jorge Medrano are permanently banned from the shipping business in North Carolina after Judge Donald Stephens signed a default judgement on Monday. 

Medrano Express, which is based in Hempstead, N.Y. and operates under the name Diamond Shipping, specializes in shipping items to Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Mexico. The company operates in 20 states and had offices in Raleigh and Charlotte. 

Price of WTI Oil for 2016

It's been some time since I have posted, and several years since I dared to make a prediction regarding the price of oil.

My last forecast was for 2012, and I thought oil we be around $100.00 a barrel.  That prediction was a little high, but not by much.

Now that oil has dropped down to half of that,  I will go out on a limb and say that for 2016, the WTI Oil price will be around $60.00 a barrel.

It's been in the $50.00 range for most of 2015, and it really should hang around that or even lower, as no one seems to be halting production.    But, I just feel it in my bones that it's going to inch up a bit.

Now, as for predictions for the shipping industry for 2016,  I will have to put on my "thinking cap" for a bit.