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Some of Cargill's major businesses are trading, purchasing and distributing grain and other agricultural commodities, such as palm oil; trading in energy, steel and transport; raising livestock and production of feed; and producing food ingredients such as starch and glucose syrup, vegetable oils and fats for application in ultra-processed foods and industrial use. Cargill also has a large financial services arm, which manages financial risks in the commodity markets for the company. In 2003, it split off a portion of its financial operations into Black River Asset Management, a hedge fund with about $10 billion of assets and liabilities. It previously owned two-thirds of the shares of The Mosaic Company (sold off in 2011), one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients.
Cargill reported gross revenues of $165 billion in 2022.[8] It last reported net profit earnings in 2021, of just below $5 billion.[9] Employing over 160,000 employees[10] in 66 countries, it is responsible for 25% of all United States grain exports. The company also supplies about 22% of the US domestic meat market, importing more products from Argentina than any other company, and is the largest poultry producer in Thailand. All the eggs used in US McDonald's restaurants pass through Cargill's plants.[11] It is the only US producer of Alberger process salt, which is used in the fast-food and prepared food industries.
Cargill remains a family-owned business, as the descendants of the founder (from the Cargill and MacMillan families) own over 90% of it.[12] In January 2023, Brian Sikes was appointed to serve as president and CEO. He is the 10th CEO in Cargill's 158-year history.
Cargill are focussed on food, so ‘bio feedstock’ is their middle name.
I can’t underestimate the impact US based Cargill will have on Utah with bioMSAR made with their oil, never mind MSC.
Well said Crownos, I could not have put it better.
Refreshing to read a well informed post.
I agree with your assessment and view that our supplier/refiner/bunkerer is none other than Shell, hence the delay.
It’s BP’s results day tomorrow and what better way to rain on their parade than to roll out the emulsion fuel news whose provenance was… BP’s.
Back in the day, the QED sp rose from 14p on 30 August 2013 ( Mærsk news RNS ) to its peak of 46p by 20 December. Four months after the RNS.
Assuming history repeats itself, an RNS anytime now would result in the sp topping out in May, assuming no additional news from Morocco or Utah.
The post RNS sp will move significantly upwards if Shell is confirmed as the tri-partite partner.
But to what level is a complete guess as news spreads and people pile on -just like I did in October 2013.
With my wishful thinking cap on I’d say double figures at least. A pessimist would say single figures as it’s only a LONO.
But it depends on if it’s Shell and the bones of the actual agreement.
The world is a different place from Maersk and 2013.
The environmental and decarbonisation issues are huge now whereas before it was a refinery /shipping 10% ‘meh’ cost saving so a silver bullet solution like BioMSAR bioMSARzero and the old gateway drug MSAR will capture the zeitgeist and the pile-on will be a stampede.
In which case, all us LTH’s may want to blow the dust off our exit strategies.
I must say I do like the Shell /Rotterdam scenario.
Given the pre-existing MSC/Shell decarbonisation collaboration since July 2021 and the MSC /QED agreement since July 2022, it would make sense for Shell to be the tri-partite partner. MSC would want Shells’ involvement , and why would Shell not want to be involved ? Shell would have had to explain to MSC back in 2021/2022 that MSAR and its derivatives were not for them; at which point why would MSC then sign an agreement with QED in July 2022-against the advice of their decarbonisation partner? My hypothesis is Shell countenanced the MSC/QED agreement with a view to their ultimate involvement. The eagerly anticipated QED RNS is just one piece of a large news management jigsaw.
The QED RNS will have to be tied with and timed to coincide with an MSC/Shell son et lumière PR extravaganza.
Chaps. focus on your day jobs and get back to work. Leave those with medically recognisable sociopathic traits to waffle away to their alter-egos in their own echo chamber (as shown by the swathe of green filters across my screen). There's really nothing of value or importance to discuss here until the RNS is released, with the possible exception of the whereabouts of the MSC Leandra.
Chaps. focus on your day jobs and get back to work. Leave those with medically recognisable sociopathic traits to waffle away to their alter-egos in their own echo chamber (as shown by the swathe of green filters across my screen). There's really nothing of value or importance to discuss here until the RNS is released, with the possible exception of the whereabouts of the MSC Leandra.
It doesn’t matter how many times you register, your writing style always betrays you.
Try typing with your left hand.
Meanwhile my filter file grows and all I see amongst the genuine posters is a sea of green.
Hi
It’s been such a short time since I posted under my most recent nom de plume so I thought I’d take you all for a bunch of Charley’s, register a new nom de plume and portray myself as a QED ingénue by asking seemingly innocuous questions.
Here goes…
Deep breath…
Pray tell, all you wise old owls out there, will QED make me as rich as Croesus?
I am at a loss to understand the ways of the modern world. My rich old uncle died and left me -a penniless widow - with 5 million shares in this mysterious company I’ve never heard of.
Do I sell ? Or do I hold ? Or do I cash in my post office savings and buy more? Such a dilemma!
The original MSC JDA was announced on Thursday 21 January 2021. Trials were to commence H2 2021 (phase one) with subsequent commercial roll-out across the MSC global fleet (phase two).
The third Thursday this year is the 18th.
Ramp away the heartache
Ramp away the tears
What joy Jason can bring.
How different it could be this year compared with every Christmas since (insert year here of first share purchase) if we can pass this Christmas week basking in the glow of an sp rise of colossal proportions, with more multiple increases to follow in the New Year.
There was I, many times a fool
I hope and pray, but not too much
Out of reach is out of touch
All the way is far enough
Ramp away….
Only tomorrow Wednesday, Thursday and Friday left realistically for the ballistic RNS this year.
But there is a historical precedent.
We were in a similar situation back in Christmas 2020/2021 and we had to wait until 21 January for confirmatory news of the JDA with MSC and sea trials later that year.
How naïve we were back in those days.
Whenever it lands, and I hope it lands this week for the sake of Jason Miles’ already battered reputation for tardy announcements, I do think the Quadrise RNS will tie with a joint MSC/Shell announcement that their existing decarbonisation of shipping collaboration has moved into the next stage with the help of a tenacious and plucky Essex based R&D subcontractor.
I think what DoN was alluding to is the fungability of MSAR, bioMSAR and bioMSARZero.
A ship can bunker all three fuels in separate onboard tanks and segue seamlessly between them as the ship transits through different regulatory / environmental zones.
For example, bioMSARZero in port and within sight of shore, bioMSAR within the Baltic or Med, and MSAR on the open ocean.
Au contraire.
Bud Darr’s weekend musings at COP28 - so excellently transcribed by others on this board - confirmed MSC’s biofuel strategy of which QED will be part. Emulsion fuels were not mentioned, nor was Quadrise by name. However, confirmation bias aside, it is easy for an intelligent person see the link between what Bud Darr confirmed MSC will do and what QED can provide.
Jason Miles said December. This week looks the favourite.
As much hope as confidence. I'd like it to be as I describe. But a decade of false dawns gnaws away at my hypothesis. Bud has bigged it up himself with his own comments. Will he take a rabbit concealed inside a hat to the meeting?
Well, the stage is set this weekend for Bud Darr to steal the show and announce to the world his companies’ plan to trail bioMSAR in conjunction with their global decarbonising partners _ _ e _ _ and an Essex based R&D outfit.
RNS 07:00 Monday morning.
Jason looks noticeably nonchalant in this video. After a decade of JM watching I’ve never him look so….nonchalant.
In past video’s he’s looked like he wanted to be anywhere else but where he was.
Yesterday’s RNS, today’s video. Tomorrow’s announcement.
Vicky Boiten-Lee has bought with her a new sense of discipline to the company.
Verdict. It’s in the bag.
There is a new sense of realism with QED’s latest RNS’s.
We were told the Moroccan results would be released in November before the AGM
They were.
We were told to expect the Aquafuel results the week after the AGM.
They were.
We have been told to expect news of the MSC contract with the GTC/MTC in December.
That leaves two weeks from today 07 to Friday 22. It’s unlikely to be made between Christmas and New Year.
It’s unlikely to be w/c 18 Dec as everyone is winding down.
So that leaves the remainder of this week and all of next week.
But COP28 runs to Sunday 12.
So if an announcement is to be made to coincide with COP28 then it has to be today, tomorrow or Monday 07:00.
That’s today or tomorrow then.