Month: November 2024

Delray Beach, FL, Nov. 01, 2024 (GLOBE NEWSWIRE) — The Metal Organic Frameworks Market is projected to grow from USD 0.51 billion in 2024 to USD 1.70 billion by 2030, at a CAGR of 22.1% during the forecast period, as per the recent study by MarketsandMarkets. The growth of metal organic frameworks is driven by several factors. Rising demand for efficient gas storage solutions and increasing shift towards clean energy is driving the adoption of metal organic frameworks in several industries. Metal organic frameworks finds its uses in gas adsorption, gas separation, sensing & detection, catalysis, and water harvesting applications due to its unique properties such as high porosity, larger surface area, structural diversity, and tunable pore size. Emergence of artificial intelligence and machine learning for identifying and selecting perfect metal organic frameworks for various applications is likely to boost the demand for metal organic frameworks market.

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Browse in-depth TOC on “Metal Organic Frameworks Market”

196 – Market Data Tables
51 – Figures
215 – Pages

List of Key Players in Metal Organic Frameworks Market:

1. Nanorh (US)
2. Framergy, Inc. (US)
3. novoMOF (Switzerland)
4. BASF SE (Germany)
5. Numat Technologies, Inc. (US)
6. MOFapps (Norway)
7. Nuada (UK)
8. ProfMOF (Norway)
9. ACSYNAM (Canada)
10. Promethean Particles Ltd. (UK), ACMOFS (China), GS Alliance Co., Ltd. (Japan), Physical Sciences Inc. (US), Majd Onsor Fartak (Iran), SyncMOF Inc. (Japan), Immaterial Ltd. (UK), Atomis Inc. (Japan), CD Bioparticles (US), Nanowiz Tech (India), Kerone Engineering Solutions Ltd. (India), Nanoshel LLC (US), Jiangsu Xianfeng Nanomaterial Technology Co., Ltd. (China), Decarbontek, Inc. (US), Svante Technologies Inc. (Canada), Nanochemazone (India)

Drivers, Restraints, Opportunities and Challenges in Metal Organic Frameworks Market:

1. Driver: Growing demand for metal organic frameworks to curb down carbon emissions
2. Restraint: High cost of metal organic frameworks
3. Opportunity: Growing investments in green hydrogen projects to boost the market
4. Challenge: Toxicity concerns in metal organic frameworks

Key Findings of the Study:

1. Copper-based metal organic frameworks accounted for the largest market share, both in terms of value and volume.
2. Mechanochemical synthesis method accounted for the second largest market share, both in terms of value and volume
3. Gas storage application segment is estimated to account for the highest market share in 2023, in metal organic frameworks market.
4. Europe to hold the largest market share during the forecast period.

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Based on type, Zinc-based segment is expected to have the second largest share of the metal organic frameworks market in 2023 by value. Zinc-based metal organic frameworks are majorly used in biomedical applications including drug delivery due to their versatility, lower toxicity, and being easily biodegradable. Key factors driving their use for gas adsorption and gas storage applications is due to their improved storage and control over reaction ability between gas molecules and components. Additionally, copper-based metal organic frameworks hold the largest share in the metal organic frameworks market due to their growing demand for gas adsorption, gas storage, catalysis, and sensing & detection applications.

Based on synthesis method, Mechanochemical segment is expected to have the second largest share of the metal organic frameworks market in 2023 by value. The mechanochemical synthesis method is widely used for the preparation of metal organic frameworks due to its shorter reaction time, cost effectiveness and environmentally friendly synthesis. It offers several advantages, including higher yields, product purity, and availability of reactants and products that are difficult to encounter in conventional solution-based synthesis. Metal organic frameworks prepared by mechanosynthesis are used for gas separation and carbon capture applications.

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Based on application, the metal organic frameworks market has been segmented into gas and liquid adsorption/separation, water harvesting, gas storage, sensing & detection, catalysis, and other applications. Metal organic frameworks is widely used for gas and liquid adsorption/separation application due to its larger surface area, highly porous structure, and high selectivity. Gas and liquid adsorption/separation holds the second largest share of the metal organic frameworks market in 2023 by value.

Based on Region, North America was the third largest market for the metal organic frameworks in 2023, with US being the largest market in the region. The North American metal organic frameworks market is experiencing significant growth and presents various opportunities for industry players. This growth is fuelled by the increasing demand for efficient gas storage solutions. Strong research and development initiatives and growing focus towards clean energy solutions is driving the demand for metal organic frameworks in this region.

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The U.S. economy experienced almost no job growth in October as the pace of employment creation slowed to its lowest level since December 2020, according to the official jobs report released Friday.

This downturn likely reflects the impact of hurricane disruptions, strikes in manufacturing and election-related uncertainties, all of which affected hiring nationwide.

Total nonfarm payrolls grew by only 12,000 last month, a sharp decline from the average monthly gain of 194,000 over the previous year.

Despite the hiring freeze, the unemployment rate held steady at 4.1%, suggesting that businesses are retaining their existing workforce even as new job creation stalls.

October Employment Situation: Key Highlights

• Nonfarm payrolls rose by 12,000, sharply decelerating from the previous downwardly revised 223,000 and well below the expected 113,000 as per TradingEconomics estimates.
• “Employment continued to trend up in health care and government. Temporary help services lost jobs. Employment declined in manufacturing due to strike activity,” the Bureau of Labor Statistics wrote in the report.
• Private payrolls contracted by 28,000, weighed down by 46,000 layoffs in manufacturing.
• Government sector employment rose by 40,000 in October, close to the monthly average gain of 43,000 over the past year.
• Total nonfarm payroll employment was revised down by 81,000 for August, from an initial estimate of 159,000, and by 31,000 for September, from 254,000, totaling 112,000 fewer jobs than previously reported.
• The unemployment rate stood at 4.1%, as expected.
• Average hourly earnings advanced at a 0.4% monthly pace, accelerating from September’s downwardly revised 0.3% increase and surpassing expectations of 0.3%.
• On an annual basis, wages rose 4%, as predicted, up from September’s 3.9% rate.

Stocks Rally As Fed Rate-Cut Expectations Soar

Following the release of the October jobs report, futures on major U.S. equity indices rallied, driven by increased expectations of Federal Reserve rate cuts.

Contracts on the S&P 500 and Nasdaq 100 both rose by 0.5%, while Russell 2000 futures surged 0.8%. This rebound comes after the SPDR S&P 500 ETF Trust SPY closed 1.9% lower on Thursday, marking its steepest one-day decline since early September and ending a five-month winning streak.

The disappointing jobs data led markets to fully price in a 25-basis-point rate cut at the Fed’s upcoming meeting on November 7, according to the CME FedWatch Tool. Additionally, the probability of another quarter-point cut in December increased to 86%, up from 75% previously.

Read Next:

Photo: National Oceanic and Atmospheric Adminstration (NOAA).

A hiring freeze in October lifted market expectations for a Federal Reserve interest rate cuts, providing relief to U.S. stocks after Thursday’s decline.

The U.S. economy added only 12,000 jobs in October, 211,000 fewer than in September. This marked the lowest monthly pace since December 2020 and sharply missed estimates of 113,000.

Market pricing now reflects a full probability of a 25-basis-point rate cut at next week’s Federal Reserve meeting, with the likelihood of another cut in December surging to 85%, according to the CME FedWatch tool.

Hurricanes, Strikes Knock October Employment Down

Beyond the dismal October employment figures, which suggest a recession-like scenario, factors such as hurricanes and strikes have significantly disrupted hiring across the nation.

Hurricane Helene hit Florida’s Gulf Coast on Sept. 26, followed by Hurricane Milton on Oct. 9, prompting widespread evacuations and disrupting multiple economic sectors.

“It is likely that payroll employment estimates in some industries were affected by the hurricanes; however, it is not possible to quantify the net effect on the over-the-month change in national employment, hours, or earnings estimates,” the Bureau of Labor Statistics (BLS) stated in its report.

Additionally, layoffs surged in manufacturing, rising to 46,000 — the highest since 2009, excluding the pandemic months of March and April 2020. “Manufacturing employment decreased by 46,000 in October, reflecting a decline of 44,000 in transportation equipment manufacturing largely due to strike activity,” the BLS added.

Despite stagnant job growth in October, the unemployment rate held steady at 4.1%, indicating that businesses remain committed to retaining their workforce.

Equity ETFs Rise On Rising Rate-Cut Bets

• The SPDR S&P 500 ETF Trust SPY, tracking the S&P 500 index, rebounded 0.7% after Thursday’s 1.9% slump.
• The tech-heavy Invesco QQQ Trust QQQ, replicating the Nasdaq 100, was 0.6% higher.
• Small caps outperformed, with the iShares Russell 2000 ETF IWM soaring 1.2%.
• The Roundhill Magnificent Seven ETF MAGS rose 1.4%. On Thursday, it tumbled 3.9%, marking the sharpest 1-day drop since late July.
• Sector-wise, the Consumer Discretionary Select Sector SPDR Fund XLY led gains, up over 2%, fueled by a 6% post-earnings rally from Amazon.com Inc. AMZN.
• The Direxion Daily AMZN Bull 2X Shares AMZU skyrocketed by 13%.
• Rising expectations for Fed rate cuts fueled gains in real estate industries, with the iShares U.S. Home Construction ETF ITB rising 1.8%.
• Semiconductors rebounded after tumbling by 3.9% on Thursday. The iShares Semiconductor ETF SOXX rose 1.6%. Intel Corp. INTC was among the best performers following better-than-expected results.
• The SPDR Gold Trust GLD – the biggest physically-backed gold ETF – also rose 0.5%, rebounding after Thursday’s 1.6% decline.
• The United States Oil Fund USO, which tracks West Texas Intermediate (WTI) crude performance, gained 1% amid rising geopolitical tensions in the Middle East following Iran’s retaliatory attack on Israel.

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Photo: Shutterstock

VICTORIA, British Columbia, Nov. 01, 2024 (GLOBE NEWSWIRE) — According to BC Check-Up: Work, an annual report by the Chartered Professional Accountants of British Columbia (CPABC) on labour market trends across the province, there were 243,200 Greater Victoria residents working in September 2024, up 6.2 per cent from one year earlier.

“We saw some of the strongest employment growth in the province over the past year,” said Simon Philp, FCPA, FCMA, Market Vice President at CIBC. “It’s good to see that resilience at the local level, especially when the B.C. labour market as a whole has shown some weakness.”

Greater Victoria’s unemployment rate fell slightly to 3.9 per cent in September 2024 and was the third lowest among all census metropolitan areas in Canada. The labour force participation rate—the proportion of the working-age population who were either working or looking for work—was 67.2 per cent, up 4.3 percentage points in the two years since September 2022.

“Unemployment and labour force participation have been trending in the right direction for two years now,” noted Philp. “It’s been challenging given the higher interest rate environment, but we are starting to get some relief on that front.”

Employment in the goods sector increased by 6,200 workers (+23.1 per cent) between September 2023 and September 2024. Meanwhile, the services sector also added workers during the year, led by the information, culture, and recreation industry, where employment increased by 6,100 workers (+79.2 per cent).

“This year’s growth was driven by industries not usually seen as major employers in Greater Victoria,” noted Philp. “It’s a great reminder of the diverse opportunities available, which contributes to economic stability in the area.”

To learn more, see www.bccheckup.com.

About CPA British Columbia

The Chartered Professional Accountants of British Columbia (CPABC) is the training, governing, and regulatory body for over 40,000 CPA members and 6,000 CPA candidates and students. CPABC carries out its primary mission to protect the public by enforcing the highest professional and ethical standards and contributing to the advancement of public policy.

CPABC Media Contact:
Jack Blackwell, Economist
604.259.1143
news@bccpa.ca

The October employment report released Friday morning showed the U.S. economy added only 12,000 jobs in October, well-below estimates of 113,000 and the lowest monthly pace since December 2020. Economists are weighing in on the impact of the hurricanes on the report and the potential for future interest rate cuts. 

Experts Weigh In: Jeffrey Roach, chief economist for LPL Financial, indicated that hurricanes across the Southeast likely affected the establishment survey. He also noted response rates for the household survey were within normal ranges.

He said investors should focus on the household survey data which showed long-term unemployment rose to 22% of total unemployed persons and the number of permanent job losers edged up to 1.8 million in October versus 1.2 million in February 2020. Roach sees the Fed cutting rates at its next two meetings as economic conditions weakened. 

“Given the storm-related distortion, the Fed is in a tight spot as they adhere to data-dependency,” Roach stated. 

Read Next: US Economy Adds Only 12,000 Jobs In October, Sharply Misses Estimates As Hurricanes, Strikes Pummel Hiring

Quincy Krosby, chief global strategist for LPL Financial, said the Federal Reserve will have to “do the math” on the weaker-than-expected employment report to determine if it reflects only the effects of the hurricanes and the Boeing workers’ strike or if it shows a broader deterioration in the labor market. 

Bill Adams, chief economist for Comerica Bank, highlighted the impact of the hurricanes on the jobs report and expects employment to rebound quickly as recovery efforts are underway. However, Adam noted the downward revisions to August and September data reveal the job market was cooler than previously thought. He anticipates the Fed will cut interest rates by a quarter percent at next week’s post-election decision.

Joseph Brusuelas, chief economist for RSM, sees hiring as slowing from its “turbocharged” pace following the pandemic and returning to a more sustainable pace for an economy at full-employment. 

Brusuelas said that after removing “the noise” resulting from hurricanes and the strike, RSM sees hiring slowed to near a 120,000 pace per month. He expects the Fed to “ignore the noisy topline” and cut its federal funds policy rate by twenty-five basis points at next week’s meeting. 

The Takeaway: Overall, economists seem to agree that the hurricanes and Boeing strike had a major impact on the October jobs report and noted the unemployment rate remained steady at 4.1%. Most expect the Federal Reserve to look past the distorted October hiring number and cut rates by 0.25% at its next meeting. 

Markets are reacting to the cooler-than-anticipated jobs report by moving higher Friday on rate cut expectations. The SPDR S&P 500 ETF Trust SPY is up 1.14% at the time of publication, rebounding from a 1.9% decline on Thursday. 

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Image: Csaba Nagy from Pixabay

GLYFADA, Greece, Nov. 01, 2024 (GLOBE NEWSWIRE) — Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) SHIP announced today the release of its Environmental, Social and Governance Report (the “ESG Report”), for the year ended December 31, 2023.

The ESG Report outlines Seanergy’s strategy and commitments related to the ESG pillars and reflects on the Company’s performance through sustainability-related Key Performance Indicators. The ESG Report is aligned with the Global Reporting Initiative (GRI 2021) Standards and follows the Sustainability Accounting Standards Board (SASB) for Marine Transportation. Specific GRI disclosures and SASB indicators have received limited level of assurance from CSE North America.

The ESG Report is available on Seanergy’s website at https://www.seanergymaritime.com/en/sustainability.

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is a prominent pure-play Capesize shipping company publicly listed in the U.S. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company’s operating fleet consists of 19 vessels (1 Newcastlemax and 18 Capesize) with an average age of approximately 13.5 years and an aggregate cargo carrying capacity of approximately 3,417,608 dwt.

The Company is incorporated in the Republic of the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP”.

Please visit our Company website at: www.seanergymaritime.com.

Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including with respect to upcoming annual meeting, the declaration of dividends, market trends and shareholder returns. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, impacts of litigation, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; broader market impacts arising from trade disputes or war (or threatened war) or international hostilities, such as between Israel and Hamas or Iran and between Russia and Ukraine; risks associated with the length and severity of pandemics (including COVID-19), including their effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

For further information please contact:
Seanergy Investor Relations
Tel: +30 213 0181 522
E-mail: ir@seanergy.gr

Capital Link, Inc.
Paul Lampoutis
230 Park Avenue Suite 1536
New York, NY 10169
Tel: (212) 661-7566
Email: seanergy@capitallink.com