Mikey Friendlyhand

Yowch -- the precious metals have been getting whacked over the past 2 days Silver futures hit $89/oz 48 hours ago. Now they're $77 That's a painful drop in such a short peroid 😬

@offshoreenergyt Hormuz closure is insurance-driven. Lloyd's and P&I clubs cancelled war-risk transit, making vessels commercially uninsurable for passage. Commercial underwriting decision, not military blockage. Different resolution path entirely.

#Velesto has been hired to supply a jack-up rig for #Hibiscus' drilling campaign off the coast of Malaysia, Southeast Asia. Full story: buff.ly/n7Rl3sZ #oilgas #offshoreenergy #oilandgas #energy #oilandgasnews #offshoredrilling #Malaysia #rig

Over 53% of German exports and 51% of German imports are with the EU27. Germany is also the top export destination for 16 of the other 26 EU member states. The EU-Mercosur agreement is a perfect example. It removes major tariffs on European cars, car parts, machinery, chemicals and pharmaceuticals — sectors where Germany is one of Europe’s biggest winners. Germany alone would never negotiate trade access with the same leverage as the European Union. Not with Mercosur. Not with the United States. Not with China. Not with India. Not with the Gulf. Not with global supply chains. AfD sells the illusion of sovereignty. But for Germany, real sovereignty is European scale. Without the EU, Germany is just a mid-sized country with an ageing population, high energy costs and an export model dependent on foreign markets. Inside the EU, Germany is the industrial core of one of the largest economic blocs on earth.

@AviationAll_ Kolkata out, Seoul back. That's restricted airspace forcing different routings each direction, not crew scheduling. Tech stops on ULH sectors cut belly cargo capacity and add transit time.

Air India is Tentatively Making Some Operational Change to Its San Francisco Operations eff JUN 🇮🇳🇺🇸 Starting June, Air India's Delhi - San Francisco Service, which was Non-Stop, will Operate with a Halt in Kolkata. The Halt on the Return Leg Changes from Kolkata to Seoul.

@World_Data_A BYD and CATL scale faster because the logistics layer already exists. Jebel Ali transshipment, DP World's India terminals, bonded transit corridors. That's what enables the velocity these charts show.

. Chinese companies are becoming increasingly dependent on overseas markets The charts show how overseas revenues are growing much faster for several major China-based firms, especially after 2021. A few things stand out: BYD’s overseas revenue expanded rapidly in only a few years, while total revenue also surged. The company is no longer relying mainly on the domestic Chinese market. Geely also shows a visible increase in international exposure, though domestic sales still remain dominant. In the lower chart, firms such as Luxshare, BYD, Midea, CATL, and SAIC Motor all recorded large jumps in overseas revenues between 2021 and 2024. This matters because it shows Chinese industrial expansion is no longer only export-volume driven. Companies are increasingly building: foreign sales networks, manufacturing capacity abroad, logistics systems, after-sales ecosystems, and localized production chains. Another important point is diversification. These firms are spread across: EVs, batteries, electronics, appliances, industrial equipment, and chemicals. That suggests the globalization process is broadening beyond a single sector. In many ways, Chinese firms now resemble the earlier international expansion phases of Japanese and Korean conglomerates, but the scaling speed appears significantly faster, partly because they can leverage existing global supply chains, digital commerce, and China’s very large domestic manufacturing base simultaneously. Source: @rhodium_group by @CBoullenois, Malcolm Black and Alessia Caruso

“Even in 2023 no one knew about their mediation between the Saudis and Iranians until the last minute. China has a lot at stake...” My interview with @larepublica_pe repubblica.it/esteri/2026/05…

Zeihan's right that geography sets the parameters. What he leaves out: redundancy built before anyone needed it isn't theory, it's running now. That shifts the recovery math.

Signals don't move cargo. Underwriter confidence does. Until P&I clubs reinstate war-risk coverage for Hormuz transit, nothing changes on the commercial side. That's the real timetable.

@myvaluepicks The distinction that matters for valuations: demand-side access constraints vs supply-side failure. Jebel Ali zero infrastructure damage. Traffic drop was Hormuz access, not capability. Two different analyses.

When investing for the next 10–12 years, start with industries you know will still be around. That’s why we avoid some tech and startups, not because they aren’t interesting, but because it’s hard to predict where software will be a decade from now. cnbc.com/2026/05/15/fam…

@Logistics__ME Interested in your perspective. Hormuz is still conditional and the demand-side drop at Jebel Ali is real. Curious what you're hearing from carriers.

Sheikh Hamdan reviews Jebel Ali Port operations as DP World handles 200,000 TEUs via multimodal corridors and expands rail and automation. Read more here: logisticsmiddleeast.com/ports-free-zon… #Logistics #Port #Maritime #Trade #UAE

Two for four is solid. Energy call was almost inevitable once Hormuz restricted and Qatar force majeured LNG. Rate hikes thesis died the day the first missile hit.

@AviationAll_ Bespoke 787-9 is a real step up for DEL-LHR. That route carries serious business traffic. Better hard product makes a difference. Smart fleet allocation.

Starting 26MAY26, Air India will be Deploying Its 2nd Bespoke 787-9 Dreamliner to London Heathrow, Thrice a Week! 🇮🇳🇬🇧 Going by Seat Maps, the Bespoke 787-9 will Replace the Legacy 787-8 on the 3x Weekly AI2015/6 Service from New Delhi. Quite an Upgrade.

@J_M_G_B_ "Eye of the storm" is right. Constraint is insurance, not infrastructure. Jebel Ali took zero damage. Throughput drop is access-related, not structural. Capacity comes back when underwriters do.

Pretty good summary of tanker short term scenarios 👇 The catch is that there will be pockets of weak demand such as this week : a natural eye of the storm effect of market turbulence

For a country that has struggled for decades with deflation, this is hard to believe. Japan's producer prices rose 2.3% MoM in April. It beat every economist's forecasts. Outside a one-off sales tax hike in 2014, the surge was the largest since 1980. The BoJ is now expected to raise rates in June & JGB yields are already at 29-year highs. It reminds me of a Lenin quote "there are decades where nothing happens and weeks where decades happen"

@NGurushina 287bps looks generous. Oil above $100, current account already deteriorating pre-war. Compare that to central banks that deployed liquidity backstops within days and held pegs intact. Response velocity separates cases.

Türkiye’s reality check - The central bank was forced to raise this year’s inflation forecast from 16% (15-21% range) to 24% (no range), as the Iran War spillovers compounded the pre-existing domestic bottlenecks (incl. the deteriorating current account).

Good morning, Asia. While you were sleeping, one of our most-read stories was about the US Treasury department’s $25bn auction and what it means for markets and the economy. ft.trib.al/LDo0z2t

I'm watching hyperscalers absorb feedgas prices that break traditional LNG offtake. The marginal buyer has shifted.

@Rakesh_Invest Impressive growth. That margin compression from 31% to 22% isn't trivial though. SCF demand is structurally real with India-UAE CEPA pushing non-oil bilateral trade to $76.2B.

Veefin Solutions FY26 Results are MASSIVE 🔥 📈 Revenue jumps 339% YoY to ₹345.13 Cr (vs ₹78.60 Cr in FY25) 💰 EBITDA surges 207% YoY to ₹75.16 Cr (vs ₹24.46 Cr) 📊 EBITDA Margin at 21.78% (vs 31.12%) 🧾 PBT rises 154% YoY to ₹52.19 Cr (vs ₹20.51 Cr) ✅ PAT up 97% YoY to ₹31.96 Cr (vs ₹16.26 Cr) Explosive growth across the board ⚡ Veefin is emerging as one of the fastest growing SME stories in the market 🔥🔥 #Veefin #SME #Investing #LNPR

@pv_mk Third party or not, the airline owns the vendor risk. That's where this broke down. PNRs are movement records, not just booking data.

Think this is by a third party as all Airlines listed. Yes they have exposed scribd.com/document/42493…

@Schuldensuehner Wholesale leads CPI - well documented. The real question is pass-through magnitude this cycle. 6.3% vs 1.2% gap: either wholesale retreats or consumers get squeezed.

Good Morning from Germany, where wholesale prices have jumped 6.3% YoY; the steepest rise since Feb 2023. That is a worrying signal for consumers, b/c food prices often follow wholesale costs with a delay.