Latest news with #PacificBasin
CTV News
2 days ago
- Climate
- CTV News
Rain to start the week with a high of 11 C on Tuesday
July has been an unusually wet month in Calgary. Unofficial rainfall totals from the Environment and Climate Change Canada weather station at YYC International Airport showed nearly 50 millimetres of rain in Calgary from Thursday through Sunday. More rain is expected to start this week beginning Monday afternoon and continuing until Tuesday night. Rain to start the week with a high of 11 C on Tuesday Central Alberta will be the meeting point for two moisture-laden systems coming in from the north and south. The northern low will drag colder air in along it's initial front which will force temperatures to peak well below seasonal values. In Calgary, the high on Tuesday will be just 11 C. Overnight temperatures from Monday to Tuesday will be so low west of Calgary that mixed precipitation and/or snow is possible in some higher-elevation communities. Rain to start the week with a high of 11 C on Tuesday The second system that is tracking along the southern border of Alberta and B.C. will add even more moisture to the corridor from Highway 3 through to Red Deer. Rain will taper off later Tuesday as the upper pattern starts to change and make room a high pressure system from the Pacific basin. Rain to start the week with a high of 11 C on Tuesday Aside from the rain to start the week, temperatures are expected to fluctuate quite quickly. The daytime high on Wednesday will be 11 degrees warmer than Tuesday's. Rain to start the week with a high of 11 C on Tuesday We should see some moderation for the end of the week and the weekend when daytime highs return to values closer to the average high of 23 C. Conditions will be varied over that same period with a mix of sun and cloud Wednesday and Thursday and a chance of showers and thunderstorms on Friday and Saturday.
Yahoo
23-06-2025
- Business
- Yahoo
Pacific Basin Avoiding Arabian Sea on Mideast Crisis
Martin Fruergaard, CEO dry bulk ship owner and operator Pacific Basin, says the Hong Kong-listed firms have stopped committing to additional voyages into the Arabian gulf on security concerns, despite having tried to evaluate going through the Red Sea again. He added that industry peers are also doing the same even though just 2 percent of dry cargo volume goes through those waters. He also gives his outlook for freight prices in an interview with Yvonne Man and David Ingles on "Bloomberg: The China Show."
Bloomberg
23-06-2025
- Business
- Bloomberg
Pacific Basin Avoiding Arabian Sea on Mideast Crisis
Martin Fruergaard, CEO dry bulk ship owner and operator Pacific Basin, says the Hong Kong-listed firms have stopped committing to additional voyages into the Arabian gulf on security concerns, despite having tried to evaluate going through the Red Sea again. He added that industry peers are also doing the same even though just 2 percent of dry cargo volume goes through those waters. He also gives his outlook for freight prices in an interview with Yvonne Man and David Ingles on "Bloomberg: The China Show." (Source: Bloomberg)
Yahoo
16-06-2025
- Business
- Yahoo
Shipping Billionaire's $170M Power Play: Why Caravel Just Took Over Pacific Basin
Harry Banga's Caravel Group is making waves in the dry bulk shipping worldwithout saying much. As of June 12, Caravel now owns over 672 million shares of Pacific Basin (PCFBY), pushing its stake to just above 13%. That's a fast climb from the 7.5% disclosed in late March, and it makes Caravel the company's largest shareholder. With Pacific Basin valued around $1.3 billion and posting $2.6 billion in adjusted revenue last year, this is no passive holding. This is a calculated, high-conviction bet on global commodity demand. Warning! GuruFocus has detected 4 Warning Sign with PCFBY. Caravel, founded by Banga in 2013 after decades in commodity trading, knows this space inside out. The firm operates or manages over 650 vessels across its shipping and asset management arms, giving it rare visibility into freight flows and pricing power. A Caravel spokesperson told Bloomberg the stake reflects the company's confidence in Pacific Basin's future, suggesting this isn't a short-term tradeit's a positioning move for the next cycle. With bulk shipping often overlooked during tech-dominated rallies, this type of insider conviction may signal opportunity brewing beneath the surface. And this isn't the Banga family's only strategic move. They're also among the top three shareholders in FSN E-Commerce Ventures, parent of Indian beauty giant Nykaa, which pulled off a $715 million IPO in 2021. Harry's son, Angad BangaCaravel's COOhas been active on the venture side too, co-founding Sorin Investments with ex-KKR India chief Sanjay Nayar. From shipping lanes to startup land, this family isn't chasing headlines. They're quietly building exposure across Asia's next growth curve. This article first appeared on GuruFocus. 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
16-06-2025
- Business
- Yahoo
Shipping Billionaire's $170M Power Play: Why Caravel Just Took Over Pacific Basin
Harry Banga's Caravel Group is making waves in the dry bulk shipping worldwithout saying much. As of June 12, Caravel now owns over 672 million shares of Pacific Basin (PCFBY), pushing its stake to just above 13%. That's a fast climb from the 7.5% disclosed in late March, and it makes Caravel the company's largest shareholder. With Pacific Basin valued around $1.3 billion and posting $2.6 billion in adjusted revenue last year, this is no passive holding. This is a calculated, high-conviction bet on global commodity demand. Warning! GuruFocus has detected 4 Warning Sign with PCFBY. Caravel, founded by Banga in 2013 after decades in commodity trading, knows this space inside out. The firm operates or manages over 650 vessels across its shipping and asset management arms, giving it rare visibility into freight flows and pricing power. A Caravel spokesperson told Bloomberg the stake reflects the company's confidence in Pacific Basin's future, suggesting this isn't a short-term tradeit's a positioning move for the next cycle. With bulk shipping often overlooked during tech-dominated rallies, this type of insider conviction may signal opportunity brewing beneath the surface. And this isn't the Banga family's only strategic move. They're also among the top three shareholders in FSN E-Commerce Ventures, parent of Indian beauty giant Nykaa, which pulled off a $715 million IPO in 2021. Harry's son, Angad BangaCaravel's COOhas been active on the venture side too, co-founding Sorin Investments with ex-KKR India chief Sanjay Nayar. From shipping lanes to startup land, this family isn't chasing headlines. They're quietly building exposure across Asia's next growth curve. This article first appeared on GuruFocus. 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
