Current Affairs
June 30, 2022
Another Attempt to eChange the Chemical Biz
ChemDirect Closes Series A Funding Round Led by Schneider
Specialty chemical marketplace will use funds to expand team and scale platform June 30, 2022 12:00 PM Eastern Daylight Time
GREEN BAY, Wis.–(BUSINESS WIRE)–ChemDirect, the leading B2B online marketplace for specialty chemicals shipped directly from vetted suppliers, today announced the closing of a Series A funding round led by Schneider (NYSE: SNDR). The financing will enable ChemDirect to grow its chemical marketplace, build out new logistics and payment technologies, and scale its go-to-market efforts.
“Today’s supply chain chaos has created a unique opportunity for ChemDirect to disrupt traditional processes, increasing efficiencies like never before and creating a better overall experience for chemical buyers and sellers.”Tweet this
Launched in 2020, ChemDirect was created to deliver significant time and cost savings for chemical buyers and sellers. With integrated logistics planning, credit terms and real-time inventory, ChemDirect makes chemical buying drastically easier than existing channels.
The Series A round follows the recent launch of ChemDirect’s new payment platform, ChemPay, which offers negotiation-free payment terms, real-time logistics and flexible payment methods to simplify the buying process — so suppliers receive payments in days instead of many weeks.
“The chemical industry is a $6 trillion market that largely operates in a pre-digital fashion,” said Tyler Ellison, ChemDirect’s founder and CEO. “Today’s supply chain chaos has created a unique opportunity for ChemDirect to disrupt traditional processes, increasing efficiencies like never before and creating a better overall experience for chemical buyers and sellers.”
By bringing the chemical buying process online, ChemDirect helps buyers save money and avoid long, complex sales cycles and delivery times typically experienced with conventional sourcing. Purchases on ChemDirect have an average fulfillment time of three and a half days and up to 80% in cost savings over other purchasing channels.
“We are encouraged by the efficiency ChemDirect brings chemical shippers and the industry,” said Shaleen Devgun, Schneider Executive Vice President and Chief Innovation and Technology Officer. “With over 500,000 products readily available online and real-time credit terms, ChemDirect is the competitive differentiator today’s chemical buyers need to navigate supply chain challenges successfully.”
To learn how to become a ChemDirect supplier, contact ChemDirect at +1 310-928-1129 or support@chemdirect.com. To learn more about ChemDirect or to request a demo, visit chemdirect.com.
About ChemDirect
ChemDirect is a B2B online marketplace for specialty chemicals designed to deliver significant time and cost savings for chemical buyers and sellers. With integrated logistics planning, credit terms, and real-time inventory shipped directly from vetted suppliers, ChemDirect makes buying chemicals drastically easier than existing channels.
The ChemDirect platform provides an easy-to-use marketplace that creates connections between customers and suppliers across a wide variety of industries, including agriculture, automobile, beauty and personal care, building and construction, cleaning and sanitation, consumer products, electronics, food and nutrition, healthcare, manufacturing, paints and coatings, and printing and packaging.
ChemDirect is backed by leading investors, such as TitletownTech, a venture partnership between Microsoft and the Green Bay Packers. For more information on ChemDirect, visit chemdirect.com, connect with us on LinkedIn and follow us on Twitter.
About Schneider
Schneider is a premier multimodal provider of transportation, intermodal and logistics services. Offering one of the broadest portfolios in the industry, Schneider’s solutions include Regional and Long-Haul, Truckload, Expedited, Dedicated Bulk, Intermodal, Brokerage, Warehousing, Supply Chain Management, Port Logistics, and Logistics Consulting.
With $5.6 billion in annual revenue, Schneider has been safely delivering superior customer experiences and investing in innovation for over 85 years. The company’s digital marketplace, Schneider FreightPower®, is revolutionizing the industry, giving shippers access to an expanded, highly flexible capacity network and provides carriers with unmatched access to quality drop-and-hook freight – Always Delivering, Always Ahead.
For more information about Schneider, visit or follow the company socially on Facebook, LinkedIn and Twitter: @WeAreSchneider.
June 27, 2022
Durable Goods Jump
US Durable Goods Orders Unexpectedly Jumped In May
by Tyler DurdenMonday, Jun 27, 2022 – 08:35 AM
With PMIs sinking rapidly and macro surprise indices crashing, analysts remained optimistic of a continued rise (albeit a small 0.1% MoM) in US durable goods orders in preliminary May data. It turns out they were ‘under’-optimistic as durable goods orders surged 0.7% MoM (with a small downward revision from +0.5% to +0.4% MoM in April).
Source: Bloomberg
That is the 3rd straight monthly increase in orders and pushes them up 12.0% YoY.
Ex Transports, orders rose 0.7% MoM – beating expectations of +0.3%.
The value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, rose 0.5% after a 0.3% gain a month earlier.
Finally, Shipments soared by 0.8% MoM – 4 times the 0.2% MoM expected.
None of this data helps the current ‘growth scare dominates inflation fears’ narrative… as ‘good news’ is now ‘bad news’.
https://www.zerohedge.com/economics/us-durable-goods-orders-unexpectedly-jumped-may
June 27, 2022
Durable Goods Jump
US Durable Goods Orders Unexpectedly Jumped In May
by Tyler DurdenMonday, Jun 27, 2022 – 08:35 AM
With PMIs sinking rapidly and macro surprise indices crashing, analysts remained optimistic of a continued rise (albeit a small 0.1% MoM) in US durable goods orders in preliminary May data. It turns out they were ‘under’-optimistic as durable goods orders surged 0.7% MoM (with a small downward revision from +0.5% to +0.4% MoM in April).
Source: Bloomberg
That is the 3rd straight monthly increase in orders and pushes them up 12.0% YoY.
Ex Transports, orders rose 0.7% MoM – beating expectations of +0.3%.
The value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, rose 0.5% after a 0.3% gain a month earlier.
Finally, Shipments soared by 0.8% MoM – 4 times the 0.2% MoM expected.
None of this data helps the current ‘growth scare dominates inflation fears’ narrative… as ‘good news’ is now ‘bad news’.
https://www.zerohedge.com/economics/us-durable-goods-orders-unexpectedly-jumped-may
June 24, 2022
New Home Sales
New Home Sales Unexpectedly Rebounded In May As Prices Plunged
by Tyler DurdenFriday, Jun 24, 2022 – 10:13 AM
Following the disappointing tumble in existing home sales (to 2 year lows), analysts expect a modest drop in new home sales in May of just 0.2% MoM (after April’s 16.6% MoM plunge). Instead, new home sales spiked 10.7% MoM (from an updwardly revised -12% MoM print in April) – despite soaring mortgage rates…
Source: Bloomberg
New home sales SAAR bounced from near COVID lockdown lows to 696k from an upwardly revised 629k…
Source: Bloomberg
New Home average price tumbles from $569.5K to $511.4K, the lowest since Jan.
New home prices are falling relative to existing home prices…
Earlier this month, the average rate for a 30-year loan posted its largest one-week increase since the 1980s. It’s risen even further since then.
“Supply remains limited across the country,” Miller said.
“Clearly, production must catch up to the growing household numbers as production of dwellings over the past decade has lagged prior decades by as many as 5 million homes.”
A separate report out last week showed US homebuilder sentiment slid to a two-year low in June, the sixth-straight decline, as rising inflation and higher mortgage rates weighed on demand.
The pickup in sales may also reflect some buyers locking in their mortgage rate in anticipation of even higher borrowing costs.
https://www.zerohedge.com/personal-finance/new-home-sales-unexpectedly-rebounded-may-prices-plunged
June 24, 2022
New Home Sales
New Home Sales Unexpectedly Rebounded In May As Prices Plunged
by Tyler DurdenFriday, Jun 24, 2022 – 10:13 AM
Following the disappointing tumble in existing home sales (to 2 year lows), analysts expect a modest drop in new home sales in May of just 0.2% MoM (after April’s 16.6% MoM plunge). Instead, new home sales spiked 10.7% MoM (from an updwardly revised -12% MoM print in April) – despite soaring mortgage rates…
Source: Bloomberg
New home sales SAAR bounced from near COVID lockdown lows to 696k from an upwardly revised 629k…
Source: Bloomberg
New Home average price tumbles from $569.5K to $511.4K, the lowest since Jan.
New home prices are falling relative to existing home prices…
Earlier this month, the average rate for a 30-year loan posted its largest one-week increase since the 1980s. It’s risen even further since then.
“Supply remains limited across the country,” Miller said.
“Clearly, production must catch up to the growing household numbers as production of dwellings over the past decade has lagged prior decades by as many as 5 million homes.”
A separate report out last week showed US homebuilder sentiment slid to a two-year low in June, the sixth-straight decline, as rising inflation and higher mortgage rates weighed on demand.
The pickup in sales may also reflect some buyers locking in their mortgage rate in anticipation of even higher borrowing costs.
https://www.zerohedge.com/personal-finance/new-home-sales-unexpectedly-rebounded-may-prices-plunged
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