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Spike in ocean freight rates likely to impact SolarEdge Q2 results, company warns

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A 100% jump in ocean freight rates will likely hit the company’s bottom line, and it details its front-row seat to the Suez Canal stuck-ship debacle.

A spike in ocean freight rates is likely to impact SolarEdge Technologies’ second quarter results, the company warned in an earnings call to review its first quarter performance. The company also detailed its front-row seat during the debacle in March when the container ship Ever Given became lodged in the Suez Canal.

SolarEdge reported that its quarter-on-quarter revenues rose 13% to $405.5 million in the first quarter of 2021. Despite strong demand for its residential and commercial products, SolarEdge said it expects that a spike in ocean freight prices, which resulted from the effects of Covid-19 on trade and supply chains, to dampen its second quarter gross margins.

“Ocean freight prices have increased by more than 100% over the last month, and our pre-negotiated prices have gradually expired and exposed us to higher fright costs worldwide,” said Ronan Faier, SolarEdge’s chief financial officer. Higher costs for certain components and freight costs related to the expedited shipping of components will also factor into lower Q2 margins, he said.

Faier said SolarEdge is managing component shortages in a way that enables the company to meet its annual operating plan. At times, however, it has to pay more for a component or resort to air transport to ship components to its contract manufacturers’ facilities.

Zvi Lando

“Our logistics are always complex and global,” said Zvi Lando, CEO. He noted that the company manufactures at five sites globally.

In late March, SolarEdge had more than 100 containers of products delayed in the Suez Canal congestion, which resulted when a container ship became lodged in the canal. Lando said that some of its products were on the ship that blocked the canal and some were on ships on either side of the blockage. He said delivery dates remained intact despite the delay.

Faier said that the company has a “pretty clear visibility” for the ocean freight prices for the second quarter. The path for prices beyond Q2 is not yet clear, but the company expects a slight downward trend, he said.

Commercial rebound

SolarEdge’s U.S. revenues grew 23% in the first quarter, driven by sales of residential products. Commercial shipments also grew in the U.S. on quarter-on-quarter basis. Most of the company’s Q1 growth in commercial volumes originated in Europe.

SolarEdge said that it started to see meaningful signs of recovery in its commercial business across all regions during the first quarter. Megawatt shipments of commercial products grew 35% from Q4, Lando said.

Overall, however, the commercial sector has been slower to recover from the economic downturn triggered by the pandemic. SolarEdge now expects revenues from that segment to return to pre-pandemic levels in the second and third quarter, Lando said.

SolarEdge’s year-over-year total revenues fell 6% from $431.2 million in Q1 2020. Revenues related to the sale of solar products were down 8% from last year’s $407.6 million.

SolarEdge Technologies is a U.S.-domiciled, Israel-headquartered provider of power optimizer, solar inverter and monitoring systems for photovoltaic arrays. Its stock trades on NASDAQ.

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Source: https://pv-magazine-usa.com/2021/05/04/spike-in-ocean-freight-rates-likely-to-impact-solaredge-q2-results-company-warns/

Energy

Global Industrial Rubber Products Market to Reach $136.5 Billion by 2026

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FACTS AT A GLANCE
Edition: 19; Released: May 2021
Executive Engagements: 10762
Companies: 359– Players covered include Airboss of America Corp.; Avon Rubber p.l.c.; Bando Chemical Industries, Ltd.; Bridgestone Corporation; ContiTech AG; Cooper Standard; Dayco Products, LLC; Eaton Corporation; EnPro Industries, Inc.; Federal-Mogul Corporation; Gates Corporation; Habasit AG; Hutchinson S.A.; JSJ Corporation; Sparks Belting Company; Meiji Rubber & Chemical Co., Ltd.; Mitsuboshi Belting Ltd.; Nichirin Co., Ltd.; NOK Corporation; Parker-Hannifin Corporation; Patch Rubber Company; Semperit AG Holding; Sumitomo Riko Company Limited; Sumitomo Rubber Industries Ltd.; The Freudenberg Group; The Yokohama Rubber Company Ltd.; Toyo Tire Corporation; Toyoda Gosei Company Limited; Trelleborg AB and Others.
Coverage: All major geographies and key segments
Segments: Product Segment (Mechanical Rubber Goods, Rubber Hose & Belting, Other Product Segments); Rubber Type (Natural, Styrene Butadiene, Polybutadiene, Ethylene-Propylene, Nitrile Butadiene, Other Rubber Types); End-Use (Automotive, Construction & Infrastructure, Energy, Aerospace, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

Complimentary Project Preview – This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry 

ABSTRACT-

Global Industrial Rubber Products Market to Reach $136.5 Billion by 2026
Global Industrial Rubber Products market is projected to register healthy growth over the near-to-long term. The market, estimated at US$100.1 Billion in 2020 is projected to reach US$136.5 Billion by 2026, registering a compounded annual growth rate (CAGR) of 5.4% over the analysis period. China represents the largest regional market for Industrial Rubber Products, accounting for an estimated 25.1% share of the global total in 2020. The country is also expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 6.3% over the analysis period. The market is expected to progress steadily to evolve as a major regional market for Industrial Rubber Products, supported by various factors conducive to healthy growth.

The U.S. Market is Estimated at $20.1 Billion in 2021, While China is Forecast to Reach $36 Billion by 2026 
The Industrial Rubber Products market in the U.S. is estimated at US$20.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$36 Billion by the year 2026 trailing a CAGR of 6.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 4.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.

Mechanical Rubber Goods Segment to Reach $56.7 Billion by 2026 Global market for Mechanical Rubber Goods is estimated at US$42.7 Billion in 2020, and is projected to reach US$56.7 Billion by 2026 reflecting a compounded annual growth rate of 5.0% over the analysis period. Europe constitutes the largest regional market for Mechanical Rubber Goods segment, accounting for 25.7% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 5.6% over the analysis period, to reach US$12.1 Billion by the year 2027. More

MarketGlass Platform

Our MarketGlass Platform is a free full-stack knowledge center that is custom configurable to today’s busy business executive’s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include – enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.

Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android

About Global Industry Analysts, Inc. & StrategyR
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world’s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com 
Email: [email protected] 

LINKS
Join Our Expert Panel
https://www.strategyr.com/Panelist.asp 

Connect With Us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./ 

Follow Us on Twitter
https://twitter.com/marketbytes 

Journalists & Media
[email protected] 

SOURCE Global Industry Analysts, Inc.

Related Links

http://www.strategyr.com

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Oglethorpe Power First Quarter 2021 Investor Briefing Call To Be Held May 18

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TUCKER, Ga., May 13, 2021 /PRNewswire/ — Oglethorpe Power Corporation executive management will discuss first quarter results during a conference call at 11:00 a.m. Eastern on Tuesday, May 18, 2021. Investors, media and the public may view a live internet webcast or join via telephone.

How to Participate:
Joining Via Telephone:
Domestic Toll-Free Dial-in Number:  877-930-8094
International Dial-in Number:  253-336-8058
Conference ID:  9292477

Joining Via the Internet:
Please navigate to the following web address to view the webcast:
https://edge.media-server.com/mmc/p/5xuababi

The presentation may be downloaded at the website listed above when the conference begins. Instruction on how to submit questions will be provided during the call. If you have additional questions, please contact Joe Rick, Director of Capital Markets & Investor Relations at 770-270-7240 or via e-mail at [email protected].

Shortly following the live presentation, a replay of the webcast will be accessible at the web address indicated above. This link will also be posted on the Investor Relations page of the company’s website, www.opc.com.

About Oglethorpe Power
Oglethorpe Power Corporation is one of the nation’s largest power supply cooperatives with over $14 billion in assets serving 38 electric membership corporations which, collectively, provide electricity to 4.3 million Georgia citizens. A proponent of conscientious energy development and use, OPC balances reliable and affordable energy with environmental responsibility and has an outstanding record of regulatory compliance. Its diverse energy portfolio includes natural gas, hydroelectric, coal, and nuclear generating plants with a combined capacity of approximately 7,900 megawatts. OPC was established in 1974 and is owned by its 38 member systems. It is headquartered in Tucker, Ga. For more information, visit www.opc.com.

SOURCE Oglethorpe Power Corporation

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Global Solar Cells And Modules Market To Reach $127.7 Billion By 2026

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FACTS AT A GLANCE
Edition: 19; Released: May 2021
Executive Engagements: 5697
Companies: 283– Players covered include BYD Co., Ltd; Canadian Solar, Inc; Chint Group; EGing Photovoltaic Technology Co., Ltd; First Solar, Inc.; GCL System Integration Technology Co., Ltd; Hanwha Corporation; Hyundai Energy Solutions Co., Ltd; JA Solar Holdings Co., Ltd; Jiangsu Shunfeng Photovoltaic Technology Co., Ltd; JinkoSolar Holding Co., Ltd; Kyocera Corporation; LONGi Solar Technology Co, Ltd; ReneSola Ltd; Risen Energy Co., Ltd; Shanghai Aerospace Automobile Electromechanical Co., Ltd; Sharp Solar; Solar Frontier K.K; SunPower Corporation; Trina Solar Ltd; Yingli and Others.
Coverage: All major geographies and key segments
Segments: Technology (Crystalline Silicon, Thin Film); Application (Industrial, Commercial, Residential)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

Complimentary Project Preview – This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry

ABSTRACT-

Global Solar Cells and Modules Market to Reach $127.7 Billion by 2026
Amid the COVID-19 crisis, the global market for Solar Cells and Modules estimated at US$87.7 Billion in the year 2020, is projected to reach a revised size of US$127.7 Billion by 2026, growing at a CAGR of 6.5% over the analysis period. Crystalline Silicon, one of the segments analyzed in the report, is projected to record 6.6% CAGR and reach US$120.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Thin Film segment is readjusted to a revised 5.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $9.6 Billion in 2021, While China is Forecast to Reach $46.2 Billion by 2026
The Solar Cells and Modules market in the U.S. is estimated at US$9.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$$46.2 Billion by 2026 trailing a CAGR of 7.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR. More

MarketGlass™ Platform
Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today’s busy business executive’s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include – enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.

Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android

About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world’s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com 
Email: [email protected] 

LINKS
Join Our Expert Panel
https://www.strategyr.com/Panelist.asp 

Connect With Us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./ 

Follow Us on Twitter
https://twitter.com/marketbytes 

Journalists & Media
[email protected] 

SOURCE Global Industry Analysts, Inc.

Related Links

http://www.strategyr.com

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Energy

KinerjaPay Corp. Received Payment from Its First Shipment of Steam Coal

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JAKARTA, Indonesia, May 13, 2021 /PRNewswire/ — KinerjaPay Corp (OTCPK: KPAY) a Payment Gateway and Ecommerce Company based in Indonesia with recent changes in its subsidiary Company, P.T. KinerjaPay Indonesia, to include mineral and commodity trading such as coal and other general commodities, today announced that the Company has received its payment from the first shipment of steam coal bound to China. The total amount received for the first shipment was shown at IDR 22.62 billion as per Wednesday’s exchange rate which was IDR 14.120 per US Dollar.

The Company plans to carry out payments to suppliers and contractors coming Monday, May 17th 2021, as banks are still on holiday since May 13th 2021 due to Eid Mubarak Holiday, a religious holiday celebrated by Muslims community in Indonesia. From the rough estimate of the transaction, the Company is expected to earn an estimated profit of IDR 2.47 billion, which is roughly around US$170,000 based on today’s exchange rate.

Subsequently, as previously mentioned on the press release, the Company is now planning to load another vessel of steam coal to China, Zhejiang port. However due to the week-long holiday, the Company has requested the loading commencement schedule to be postponed to until May 25th 2021. The Company is confident that the business of coal shipment will continue to be the main revenue stream as the demand for coal in China is increasing rapidly. With the first business cycle completed, the Company is looking forward to a very profitable and sustainable business with China.

About KinerjaPay 

KinerjaPay enables consumers to “Pay, Play and Buy” through its secure web portal and mobile applications. Based in Indonesia, the Company provides an easy and convenient payment solution while shopping online at its marketplace platform. With its current omni-channel platform, users can perform various payment services such as credit card bill payment, utility, phone bill, healthcare insurance and direct transfer to anyone at their convenience. KinerjaPay is also planning to launch other eCommerce verticals such as travel market, delivery services, and online gaming in the near future. The Company’s services are available through its mobile applications and on its website at www.kinerjapay.com.

Notice Regarding Forward-Looking Statements 

This press release may contain forward-looking statements, about KPAY’s expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, KPAY or its representatives have made or may make forward-looking statements, orally or in writing.

Forward-looking statements can be identified by the use of forward-looking words such as “believe,” “expect,” “intend,” “plan,” “may,” “should” or “anticipate” or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by KPAY with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of KPAY’s authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause KPAY’s actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause KPAY ‘s actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in KPAY ‘s filings with the SEC. In addition, KPAY operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. KPAY does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Please see the risk factors associated with an investment in our securities which are included in our Annual Report on Form 10-K as filed with the SEC on April 20, 2018 and most recently in our Registration Statement on Form S-1/A filed with the SEC on December 21, 2018,  pursuant to which we are offering 300,000 Shares of 11% Series C Cumulative Redeemable Perpetual Preferred Stock at $25.00 Per Share.

For more information, please visit our website http://www.kinerjapay.co. There you will find access to all of our past press releases and SEC filings regarding the activities discussed in this release.

Media Contact:
KinerjaPay Corp.
Email: [email protected] 
+62-21-2918-1336

SOURCE KinerjaPay Corp.

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https://www.kinerjapay.com/

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