04-14-26 panasonic
"lifting of sanctions on Veni Central Bank and simultaneous reconnection with the FM"
Already in the make. |
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04-14-26 Merlino
| Next important milestone in the regularization process could be lifting of sanctions on Veni Central Bank and simultaneous reconnection with the FMI.....They are working on it it seems |
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04-14-26 panasonic
Savo, they could probably be done privately, but my guess is that a holder of 30MM in bonds is not a small cookie easy to fool.
A buyer of 30MM size is still a small buyer.
Bid for a 100MM lot and price will be very different in my opinion.
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04-14-26 Merlino
is it low or do we only see part of it
......................
I am reasonably sure we only see a part of total trading as many times closing prices in my account do not exactly match a trade in FINRA |
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04-14-26 savo
pana.. i always wonder about volume.. is it low or do we only see part of it?
finra reports few trades... and usally of small size... do 10, 20, 30 mm trades get reported to Finra ? |
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04-14-26 carib
| Panas: true. Yet, that would be a reasonable strategy to facilitate debt management. |
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04-14-26 panasonic
Carib, going up in low volume, if one (decent size) buyer steps in would trigger a massive rally....imagine if Delcy gives green light to pay royalties with pdvsa bonds.
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04-14-26 carib
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04-14-26 carib
Mossad Director David Barnea on Tuesday proclaimed at the Holocaust ceremony that his spy agency will not rest until it facilitates the fall of the Islamic regime of Iran in favor of a freer and less violent country.
"Our mission is not yet complete. We did not think that our mission would be completed immediately with the fading of the battles, but rather we planned, and [really] we planned to continue, and this will be manifested even after the time of attacks on Tehran," said Barnea. |
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04-14-26 spal
change the global order.
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"Meet the new boss, same as the old boss"
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04-14-26 panasonic
"i.e. Honor among thieves ..."
Bombing Gulf States exposed "axis" project, they have no friends, only one target, change the global order.
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04-14-26 panasonic
This morning doubled down on SLV, Oil.
Rolled Semis (index) in smaller size.
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04-14-26 spal
The rally in the rail sector, and specifically in FreightCar America (RAIL), is driven by a unique convergence of geopolitical disruption, industrial recovery, and a structural shift in how the "Western Energy Fortress" moves goods.
As of April 14, 2026, the sector has become a primary "Security Trade" for investors. Here is the breakdown of why it is rallying, the strategic thesis, and the outlook for RAIL.
1. Why is Rail Rallying?
The rally is fueled by three primary "Garrison Economy" drivers:
The "Trucking-to-Rail" Pivot: With diesel prices surging above $5.00/gal due to the Middle East conflict, the fuel efficiency of rail (which is roughly 3-4 times more fuel-efficient than trucking) has made it the mandatory choice for shippers. Investors are pricing in a massive volume shift as trucking becomes prohibitively expensive.
U.S. Manufacturing Expansion: Domestic manufacturing is finally expanding (ISM PMI at 52.7% in March). The rail industry is seeing its third straight month of carload gains, led by record-level chemical and grain flows—the two sectors most impacted by the global chokepoint disruptions.
The "North Exit" Logistics: As Saudi oil and global grains are diverted through "North Exit" routes (Suez/land pipelines), the domestic infrastructure required to receive and redistribute these goods at U.S. and European ports is being strained. This has created a sudden, acute demand for new, specialized rolling stock.
2. Why is FreightCar America (RAIL) a Strategic Stock?
RAIL is no longer just a cyclical manufacturer; it is a "Pure Play" on the hardening of North American supply chains.
Manufacturing Agility: Unlike larger competitors, RAIL has a "lean and flexible" operating model based in Mexico, allowing them to pivot production rapidly. They are specifically targeting the tank car and aftermarket business, which are the two highest-demand segments in the 2026 "Garrisoned" energy market.
The "Backlog" Moat: As of late March, RAIL reported a backlog of ~1,900 units valued at over $137 million. In a world of scarcity, a firm backlog is a "Hard-Asset" guarantee.
Refinancing Strength: The company optimized its balance sheet in early 2026, lowering its debt costs just as the rail industry enters a high-growth cycle. This has removed the "Liquidity Risk" that previously suppressed the stock price.
3. Will the Rally Continue?
The rally has structural momentum, but it is becoming a "High-Beta" play:
The Bull Case: If the Middle East "Blockade" remains in place, the fuel-cost advantage of rail will only widen. Furthermore, the May 4, 2026, earnings release is expected to show the first full quarter of the "Conflict-Driven" demand surge.
The Bear Case: The stock has surged significantly (up 90% over the last year). A sudden de-escalation in the Iran conflict would lower diesel prices and could trigger a "Mean Reversion" profit-taking event.
The Recommendation: RAIL is a "Buy on Dips" for the long-term Americas Pivot. It is the "Hardware" provider for the New Regional Order. |
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04-14-26 spal
| i.e. Honor among thieves ... |
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04-14-26 spal
Revenue vs. Retaliation: The UAE’s northern ports rely heavily on transit and storage fees from the "Shadow Fleet." In 2026, with the Strait of Hormuz mostly closed, these fees have tripled. The UAE calculates that the U.S. will not impose secondary sanctions on major UAE ports (like Jebel Ali or Hamriyah) because doing so would crash the "White-List" global economy the U.S. is trying to protect.
The "Insurance" Double-Game: By allowing the Rich Starry to load in Hamriyah, the UAE acts as a pressure valve. If the UAE completely shut down these "Shadow" flows, Iran would likely escalate kinetic attacks on UAE infrastructure (like the desalination plants we discussed). The UAE uses these transits as a "peace offering" to Tehran: We allow your trade, so don't hit our cities. |
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04-14-26 spal
Substance Laundering: Methanol is one of Iran’s largest non-oil exports. Often, Iranian petrochemicals are shipped via small, "clean" dhows or barges to UAE ports like Hamriyah, where they are co-mingled or simply issued new certificates of origin (UAE-origin) before being loaded onto larger, sanctioned tankers like the Rich Starry. In this case, the cargo isn't "re-labeled crude"—it is likely laundered Iranian methanol.
The "Chemical" Cover: By declaring methanol rather than "crude," the vessel attempts to stay below the threshold of a kinetic U.S. naval interdiction. The U.S. blockade is primarily focused on crude oil revenue. Interdicting a chemical tanker carrying industrial feedstock is a higher "diplomatic friction" event than seizing a crude tanker, especially when the ship is Chinese-crewed. |
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04-14-26 spal
| The minor emirates are well know for smuggling etc., |
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04-14-26 spal
Rich Starry
It is a US sanctioned vessel - that loaded methanol in Fujairah ... this was almost certainly contraband brought over from Iran and blended and re-labelled as UAE material. |
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04-14-26 victor
The Chinese-owned oil and chemical tanker Rich Starry successfully transited the Strait of Hormuz on Tuesday despite a U.S. blockade,
The Rich Starry was the first vessel to cross the strait since the U.S. imposed its blockade on Monday. The ship was initially turned back on Monday but was successful on its second attempt to cross. |
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04-14-26 pillz
US President Donald Trump said Iran had been in touch on Monday and wanted to make a deal, but that he would not sanction any agreement allowing Tehran to have a nuclear weapon.
// ??????????????????????????,,,,,,,,,,
https://www.jpost.com/middle-east/iran-news/article-892908 |
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04-14-26 pillz
tries to open the Strait by closing it ...
//
:-(((( sorry it must be :-))))))))) |
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04-14-26 spal
Stocks in the shipping and tanker industry posted broad gains Monday after the U.S. implemented a naval blockade of Iranian ports following the collapse of weekend peace negotiations, although results finished well off sharp early gains.
The day's gains continued the "disruption" trade in which negative news surrounding the closure of the Strait of Hormuz rallies shipping stocks, while any momentum toward a resolution punishes them, TradeWinds.com noted.
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Well I don't make the rules ... |
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04-14-26 pillz
tries to open the Strait by closing it ...
//
:-(((( |
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04-13-26 spal
| Schrödinger's Trump ... tries to open the Strait by closing it ... |
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04-13-26 spal
https://www.youtube.com/watch?v=3TI1s7ZJxSg&t=4s
Very good discussion with Richard Haass (very experienced American diplomat) who in fact came up with the American Hormuz Blockade about a month ago (in his blog) ... he explains how it is likely to work. |
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04-13-26 carib
| Panas: Cuba forgotten for the time being.. |
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04-13-26 panasonic
Carib, yep nice rally at the closing, reading between lines on interviews tdy, no free ride for China if this escalates, they will be held accountable.
i.e.: IRGC salaries not being paid, same as oil workers, so their project is facing serious bumps.
Meanwhile, China was caught planning weapons shipments.
"Axis-of-autocracy" now being used by US media, it's a start.
The "axis of autocracy" refers to a perceived, growing strategic alignment between China, Russia, Iran, and North Korea, designed to challenge U.S. global leadership and undermine the liberal international order
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04-13-26 victor
savo, JP 12th april
i see, looks like they do copy-paste from old articles without reading.
• Most deliveries to Europe are expected to stop around April 10. |
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04-13-26 leopardo
| Methink Pdvsa Vnz bonds still have a 20% upside potential before year ends. |
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04-13-26 spal
Spal, not really but shares our views :-)
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In spirit ... a spiritual colore ... stage one of the process. |
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04-13-26 carib
| Meanwhile PDVsa bonds doing very well. |
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04-13-26 carib
| Mr. Market appears to believe there will be a negotiated settlement, or a radical effective outcome. Market can be right or wrong, of course. |
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04-13-26 panasonic
| Chinese strategy being exposed in CNBC, all interviews talking abt. their roll, good news to me, time to exercise real pressure on the "sponsor". |
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04-13-26 panasonic
| Spal, not really but shares our views :-) |
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04-13-26 savo
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04-13-26 spal
Charles Kupchan is a silent colores? |
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04-13-26 panasonic
| EU waving white flag since Atocha. |
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04-13-26 panasonic
Mid-day colores report:
TRMD higher, NAT flat, gold down, FCX doing ok. |
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04-13-26 panasonic
Charles Kupchan, silent colores now in CNBC
"Chinese enjoying every moment of blockade; fractures NATO and the US" |
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04-13-26 spal
So as Europeans we should do something!! Wait we don't have any navies ... or energy resilience ... we thought history had ended.
wait ... what ...
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04-13-26 spal
What ... you mean that all of these little rag tag nations of goat farmers would seize all of the strategic choke points in the world if they could?
Yes. |
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04-13-26 spal
| All of a sudden people realize that "cheap" energy was entirely the result of Western power projection ... I understand that this is difficult for the European mind ... they are too busy teaching things like empathy. |
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04-13-26 spal
More than 100 empty oil tankers are making their way to the U.S. to fill up as the war in Iran forces the industry to find new sources of oil.
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US (and Western Hemisphere sources) of energy are permanently relatively advantaged under these circumstances. |
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04-13-26 victor
(Bloomberg) -- Three tankers — the first to attempt a transit of the Strait of Hormuz since the US announced a blockade — have successfully cleared the waterway. After sailing near the Iranian coast, the trio have now emerged into open waters.
Meanwhile, the blockade appears to be deterring others, with at least two ships abandoning their planned journeys.
Among the successful transits, the New Future, which has no clear links to Iran, and the US-sanctioned Auroura began moving northeast early Monday from waters off the United Arab Emirates, ship-tracking data show. The medium-range tankers appeared to have taken a route just south of Iran’s Larak island, a passage that Tehran has in recent days said vessels attempting an eastward transit should follow.
New Future has navigated the bend in the strait and is now off the coast of Sohar port in Oman. Auroura is near the exit of the waterway in the Gulf of Oman.
At the same time, a Vietnam-flagged and owned liquefied petroleum gas carrier approached the strait in the opposite direction to enter the Persian Gulf. The NV Sunshine began sailing northward from waters off Sohar in the Gulf of Oman late Sunday and is now inside the gulf signaling it’s headed to Sharjah in the UAE. |
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04-13-26 victor
More than 100 empty oil tankers are making their way to the U.S. to fill up as the war in Iran forces the industry to find new sources of oil.
Data from TankerTrackers and MarineTraffic shows that 121 oil tankers are en-route the U.S. Gulf Coast. Of those vessels, 68 are massive VLCC class tankers, capable of transporting 2 million barrels of oil each. |
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04-13-26 victor
savo, what is the date of the article?
• Most deliveries to Europe are expected to stop around April 10. |
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04-13-26 savo
(EFE).- La energética española Repsol tomará el control directo de las operaciones de petroleo en Venezuela «en estos próximos días», anunció este lunes el consejero delegado de la compañía, Josu Jon Imaz, lo que les permitirá cumplir con el compromiso de triplicar su producción bruta en el país latinoamericano en los próximos tres años.
Imaz, que participó en el encuentro ‘Wake Up, Spain!’, aseguró que «se ha abierto el tiempo para una Venezuela mejor», e insistió en que la responsabilidad de las compañías con presencia allí es aumentar la producción y generar más ingresos fiscales para que el país «tenga recursos para su desarrollo».
Sobre el caso concreto de Repsol, el consejero delegado de la multinacional española destacó el «apoyo absoluto» recibido del Gobierno de EE.UU. y recordó que ya cuentan con «todas las licencias» que necesitaban para moverse «en ese entorno»; pueden operar en dólares o contratar empresas americanas.
También señaló que Repsol suscribió recientemente un «acuerdo relevante» por el que incrementará la producción de gas natural en Venezuela y que garantiza el 50 % de la generación eléctrica en un momento en el que ese país «necesita electricidad más que nunca».
Al tomar el control directo de las operaciones de petróleo, les permitirá cumplir con su compromiso de elevar su producción bruta de este hidrocarburo en Venezuela en más de un 50 % en el corto plazo y triplicarla en tres años, como ya anunció la compañía tras la publicación de las cuentas anuales de 2025. |
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04-13-26 savo
he flow shock is now fully playing out .
• Deliveries to Asia largely stopped on April 1, a major hit to a region that sources roughly 80% of its oil from the Gulf. A handful of cargoes are still making it through—Malaysia is set to receive Iraqi crude on April 18, and Iranian shipments to China continue—but together they amount to only about 6% of the region’s pre-war volumes. The Philippines is among the most
exposed. It imports about 96% of its oil from the Middle East and was the first to declare a national energy emergency after local gasoline prices more than doubled. Indonesia and Vietnam have instructed people to work from home and introduced energy rationing. Thailand’s fisheries, which account for 0.8% of the
country’s GDP, are shutting down as marine fuel costs have surged by more than 250%. India has avoided transport fuel rationing, but has halted LPG supplies for commercial use to protect households, around 60% of which rely on LPG for cooking. In Mumbai, roughly 20% of hotels and restaurants shut down by early March. In Japan, bus and ferry services across the country have been curtailed due to fuel shortages.
• Last deliveries to Africa will stop on April 10 and some countries such as Ethiopia, Zimbabwe, South Sudan, and Mauritius, are taking steps like diluting petrol and restricting electricity use to manage the fuels crisis.
• Australia has cut roughly 70% of its refining capacity since 2009 and now meets almost 80% of its fuel demand through imports, largely from East Asia. Its last shipment will arrive on April 19, and the government has already released fuel reserves, cut fuel taxes and rolled out a national fuel security plan.
• Most deliveries to Europe are expected to stop around April 10. The UK received its last jet fuel cargo from Saudi Arabia on April 7, a meaningful development given that it imports roughly 50% of its jet fuel from the Middle East. Denmark’s last jet fuel cargo from Kuwait is due to arrive on April 11. Temporary jet fuel shortages have forced rationing at four major Italian airports, and Europe’s airport industry group warns that the
continent could face widespread jet fuel shortages within three weeks unless the Strait of Hormuz reopens.
• The US is effectively last in line, with most deliveries expected to stop around April 15. The final crude cargoes reached Texas on April 1 and California on April 8. |
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04-13-26 victor
| Iran’s Navy is laying at the bottom of the sea, completely obliterated - 158 ships. What we have not hit are their small number of, what they call, “fast attack ships,” because we did not consider them much of a threat. Warning: If any of these ships come anywhere close to our BLOCKADE, they will be immediately ELIMINATED, using the same system of kill that we use against the drug dealers on boats at Sea. It is quick and brutal. P.S. 98.2% of Drugs coming into the U.S. by Ocean or Sea have STOPPED! Thank you for your attention to this matter. President DJT |
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04-13-26 spal
Oil Chaos Boosts Tanker Profits As Nordic American Locks In $75,000/Day Deals
04:47 AM CDT, April 13, 2026 |
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04-13-26 spal
NAT
NORDIC AMERICAN TANK
All suezmaxes ... fully loaded and tearing out of the Suez |
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04-13-26 spal
A man can be an artist... in anything, food, whatever. It depends on how good he is at it. Spal's art is penny schtocks. He's about to paint his masterpiece.
... apologies to the movie ... Man on Fire |
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04-13-26 spal
The appointment of Nancy Zakhour and Saleh Sagr to the Board of Directors on April 8, 2026, represents a definitive strategic pivot for Perma-Pipe International Holdings (PPIH). By elevating their Middle East-centric CEO to the board and adding a high-level energy strategist with deep regional academic and technical ties, PPIH is signaling focus on the reconstruction and expansion of the Gulf’s energy infrastructure.
The Directors: Strategic Backgrounds
1. Saleh Sagr (Director / President & CEO)
The Regional Heavyweight: Sagr is not just an executive; he is a veteran of the Saudi industrial landscape. Before becoming CEO in June 2025, he co-founded Global Anti Corrosion Techniques in Saudi Arabia and spent a decade overseeing operations for BrederoShaw (the world’s largest pipeline coating provider).
The "MENA Architect": Since joining PPIH in 2019, he has been the architect of the company's Middle East North Africa (MENA) expansion, particularly in Fujairah (UAE), Dammam (Saudi Arabia), and Egypt. His elevation to the board after a year of "outstanding" leadership confirms that the board views his regional network as the company's primary growth engine.
2. Nancy Zakhour (Independent Director)
The Technical Bridge: Zakhour brings a uniquely integrated perspective from Schlumberger (field experience in North Africa) and Occidental Petroleum. Her background as an investment banker at Piper Sandler (Energy & Power) provides the financial sophistication required to structure complex, multi-billion-dollar infrastructure bids.
The Academic and Regional Tie: A graduate of the American University of Beirut (AUB) in Electrical and Computer Engineering, her appointment provides PPIH with a director who possesses both "Old Energy" technical depth and a high-level network in the Levant and North Africa. Her expertise in Carbon Capture (CCUS) and Renewables aligns with the GCC's "Vision 2030" energy transition goals.
The Thesis: A Concerted Effort for a "Pipeline Explosion"
The timing of these appointments—amidst the 2026 Gulf conflict—points to a deliberate effort to capture three specific "explosion" points in the Middle East pipeline market:
1. The "Aramco Direct" Pathway
In late 2025, PPIH secured technical and commercial approval from Saudi Aramco, a "landmark achievement" that allows them to bypass traditional district cooling markets and enter the oil and gas pipe coating sector—the largest in the Middle East. Sagr's direct ties to the Saudi industrial base are the "key" to unlocking this direct bidding pathway.
2.
The 2026 Iran war has caused unprecedented damage to Gulf energy and desalination infrastructure. With the Strait of Hormuz blockaded, there is a frantic, state-funded race to build and harden bypass pipelines (like the Saudi East-West expansion to 7 million bpd) and decentralized mobile desalination nodes. PPIH’s pre-insulated piping and leak detection systems are the "table stakes" for this high-security infrastructure.
3. The ADNOC "Rich Gas" Acceleration
With ADNOC Gas targeting a massive $4B+ expansion of its domestic gas capacity (RGD Phases 2 & 3) in early 2026, the UAE is rushing to secure industrial and utility customers across the Northern Emirates via the Estidama gas pipeline project. Zakhour’s commercial strategy background is specifically geared toward these large-scale "Forward-looking" energy transitions.
The "Board of the Americas Pivot"
By pairing Sagr (the local operator) and Zakhour (the energy transition strategist) with existing board member Ibrahim Jaham Al Kuwari (CEO of Qatar Solar Technologies), PPIH has assembled a "Sovereign-level" board.
Verdict: This is no longer a company merely selling "pipe insulation"; it is a geopolitical infrastructure player positioning itself to be the primary vendor for the "Western Energy Fortress" as it rebuilds the Middle East's energy arteries.
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04-13-26 spal
| TRMD ... massive fleet action, fully operational in the safe zone rerouting refined product that is being massively stockpiled ... all done under a Danish flag. The management is probably one of the very best in this biz. |
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04-13-26 spal
| Carib - Morgan Downey is a very technical, sober individual - you will not find any spin in his commentary. |
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04-13-26 spal
PPIH
PERMA-PIPE INTL HLDG
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Adding ... just appointed 2 individuals to the board that will pitch for what I think will be massive pipeline contracts in the middle east. |
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04-13-26 carib
| Spal: thanks for the link. |
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04-13-26 spal
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04-13-26 spaldo
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04-13-26 spal
The movement of the New Future and the Auroura on Monday morning, April 13, 2026, represents the first significant "Blockade Run" following the collapse of the US-Iran peace talks and President Trump's declaration of a full naval blockade.The vessels are utilizing the "Tehran Toll Booth" (the Northern Corridor), a protected transit route south of Larak Island that hug the Iranian coast to avoid allegedly mined waters in the main international shipping channels.
The Auroura: This vessel is a known "Shadow Fleet" operator with a history of identity-spoofing and was sanctioned by the US Treasury earlier this year. It is managed by Golden Gate Ship Management, an entity that shares a Mumbai address with several other sanctioned single-ship companies.
The New Future: Owned by a Hong Kong-based entity, this vessel has remained in the Persian Gulf since December 2025. Unlike the Auroura, it has no direct sanctions history, making it a "test case" for whether the US Navy will interdict non-sanctioned vessels paying the Iranian transit fee.
Cargo Sponsorship and DestinationsThe "sponsorship" of these cargoes is deeply tied to the mBridge digital ledger system and the emerging "Hydra" financial axis (China, Iran, Russia, and India) designed to bypass Western insurance and banking "Software-Locks."
The Auroura:Cargo: Heavily suspected to be Iranian Crude.Sponsorship: Lloyd's List and maritime intelligence suggests the cargo is sponsored by an Indian state-backed refiner under a temporary waiver/protocol that was nullified by the new US blockade.Destination: Paradip or New Mangalore, India.The New Future:Cargo: Refined petroleum products or chemicals.Sponsorship: Likely a commercial "parcel" trade sponsored by a Chinese-linked trading house. By utilizing the Larak passage, the sponsors have effectively paid the $1M–$2M "Tehran Toll" (likely in Chinese Yuan or cryptocurrency) to ensure IRGC protection during the transit.Destination: Generally signaled for an eastward transit (likely East Asia).
The Strategic SignificanceThese two ships are forcing the US Navy into a binary choice on Day 1 of the blockade:Interdict and Seize: Validates the blockade but risks a direct kinetic escalation with Iranian coastal batteries on Larak Island.Allow Passage: Effectively ends the "Blockade" as a credible deterrent and validates the Iranian "Toll Booth" as the new operating system for the Strait. |
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04-13-26 spal
| Iran's economy can be imploded ... this is the next phase. |
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04-13-26 spal
| Panas - China ... clearly a big X-factor here. |
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Board
