Port of Boston: A Vital Economic Engine
Port of Boston is Vital Economic Engine and Job Generator for Region. The Port of Boston generated $4.6 billion in 2012 and more than 50,000 jobs are supported by the port, including more than 7,000 direct jobs, according to a report released by the Massachusetts Port Authority (Massport). This economic impact and the jobs created by the working seaport help to keep Boston competitive among other U.S. East Coast ports. Operation of the maritime terminals ensures that the more cost-efficient waterborne cargo lands in Boston rather than other ports like New York/New Jersey or Baltimoreā¦
U.S. Commodity ETFs Fall for Fifth Quarter
U.S. retail and institutional investors pulled cash from broad commodity exchange-traded funds for a fifth straight quarter even as coffee, natural gas and hogs prices had their best run in years, data from Thomson Reuters Lipper showed on Wednesday. Lipper, which tracks nearly 270 U.S. exchange-traded commodity funds and products worth about $240 billion, noted a net outflow of nearly $2.7 billion in the first quarter of this year. The data contrasts with positive flows for broad commodity exchange-traded products tracked by BlackRock for the same quarter. With the Lipper data, the outflows were largely in two commodity ETFs run by Boston-based mutual fund manager Fidelity Investments. The outflow appears to be slowing from the $16 billion outflow in the fourth quarter of 2013.
DnB NOR Markets Announces New Appointments
DnB NOR Markets announces analyst appointments to its energy, offshore and maritime equity research team in Singapore. Kay Lim, CFA, has been appointed the bankās new Head of Securities Research for Asia. Kay is also the regional offshore and yards analyst for Asia Pacific. He was recently ranked the number one stock picker for Singapore industrials sector by StarMine. Lim has more than four years' experience as a securities specialist in the offshore sector with DnB NOR Markets and had prior experience as an equity generalist with Credit Suisse focusing on the energy and materials sectors. Erik Bergöö joins the Singapore office as regional shipping analyst from the bankās headquarters in Norway.
