> ## Content Index > Fetch the complete content index at: https://newsletters.qs.com/llms.txt > Use this file to discover other available public pages before exploring further. # 🚒 Shipping Index Rises 65%. $45M+ VC Funding. - URL: https://newsletters.qs.com/shipping-rises-21-45m-vc-funding/ - Published: 2024-06-03T11:58:59.000Z - Updated: 2024-06-21T12:26:08.000Z - Description: Impact Capital Markets #106 looks at our Shipping Stock Index, major impact deals, M&A, and upcoming economic releases. - Author: QS - Tags: Deals [**Kamusta**](https://en.wikipedia.org/wiki/Filipino%5Flanguage?ref=newsletters.qs.com)🏝️ πŸ“ˆ **Today's Global Economic Update:** India's GDP data released last Friday revealed a [7.8% increase for the quarter ending March 2024](https://www.mospi.gov.in/sites/default/files/press%5Frelease/PressNoteGDP31052024.pdf?ref=newsletters.qs.com), surpassing the forecasted 6.7% and confirming its status as the world’s fastest-growing major economy. πŸ€– **Deal of the Day:** Valar Labs, aCalifornia-based histology AI company, raised a [$22M Series A](https://www.finsmes.com/2024/05/valar-labs-raises-22m-in-series-a-funding.html?ref=newsletters.qs.com) to expand operations and R&D efforts. **What's New?** 🚒 **Shipping.** Shipping index rises 65% **πŸ’° Funding.** Payment solutions and histology AI πŸ’Ό **M&A.** Delivery management and SAP consulting πŸ“… **Economics.** US employment data, Euro Area Interest rate + more ## 🚒 **Shipping Index Rises 65%** ![](https://storage.ghost.io/c/f1/d4/f1d411df-6f49-4c75-a302-f8c9e9f59495/content/images/2024/06/HolonIQ_HolonIQ_Shipping_HIQSHIP_HCHRTPKCCJX7BMKE0J2Q-2.png) HolonIQ’s shipping index has experienced a 21% increase over the past three months, with Year-on-Year returns exceeding 65%. Militant attacks in the Red Sea have forced ships to reroute to longer routes, driving up freight rates substantially and increasing the value of shipping stocks. The resolution of supply chain issues following COVID-19, technological advancements, and port industry improvements have also positively impacted stocks in the index. Hapag-Lloyd ($34B MCap) increased 29% over the past three months. COSCO Shipping ($31B MCap) and Evergreen Marine ($14B MCap) have also seen quarterly earnings rise by 29%, 41%, and 18%, respectively. The return to normality as conditions of the war wane adds an element of uncertainty to stocks in the index, especially with earning results for some stocks being less than reported. Compared to last year's quarter, Hapag-Lloyd's group EBIT and group profit decreased in 1Q 2024\. However, Evergreen Marine has seen Q1 2024 net profit triple that of a year ago. Looking ahead, the global economic outlook, along with geopolitics, will have a significant impact on the performance of the index. ## **πŸ’°** Funding πŸ€– **Valar Labs,** aCalifornia-based histology AI company, raised a [$22M Series A](https://www.finsmes.com/2024/05/valar-labs-raises-22m-in-series-a-funding.html?ref=newsletters.qs.com) from DCVC and Andreessen Horowitz to expand operations and its R&D efforts. πŸ’³ **Forward,** aTexas-based payment solutions provider, raised a [$16M Seed](https://www.finsmes.com/2024/06/forward-raises-16m-in-seed-funding.html?ref=newsletters.qs.com) from Commerce Ventures, Elefund, and Fiserv to meet the demands of software partners. ## **πŸ’Ό** M&A πŸ“¦ **Scurri**, an Irish delivery management platform, acquired HelloDone, a UK-based AI provider to retailers and brands. πŸš€ **Applexus Technologies**, a Washington-based SAP consulting provider, acquired Absoft, a UK-based SAP implementation company. ## **πŸ“…** Economic Calendar US Employment Data, Euro Area Interest Rate, Balance of Trade + More ### Monday, June 3rd 2024 πŸ‡ΊπŸ‡Έ [US ISM Manufacturing PMI, May](https://www.ismworld.org/?ref=newsletters.qs.com) ### Tuesday, June 4th 2024 πŸ‡ΊπŸ‡Έ [US JOLTs Job Openings, April](https://www.bls.gov/?ref=newsletters.qs.com) πŸ‡¦πŸ‡Ί [Australia GDP Growth Data, Q1](https://www.abs.gov.au/?ref=newsletters.qs.com) ### Wednesday, June 5th 2024 πŸ‡¨πŸ‡¦ [Canada BoC Interest Rate Decision](https://www.bankofcanada.ca/?ref=newsletters.qs.com) πŸ‡ΊπŸ‡Έ [US ISM Services PMI, May](https://www.ismworld.org/?ref=newsletters.qs.com) πŸ‡¦πŸ‡Ί [Australia Balance of Trade Data, April](https://www.abs.gov.au/?ref=newsletters.qs.com) ### Thursday, June 6th 2024 πŸ‡ͺπŸ‡¦ [Euro Area Deposit Facility Data](https://www.ecb.europa.eu/home/html/index.en.html?ref=newsletters.qs.com) πŸ‡ͺπŸ‡¦ [Euro Area ECB Interest Rate Decision](https://www.ecb.europa.eu/home/html/index.en.html?ref=newsletters.qs.com) πŸ‡ͺπŸ‡¦ [Euro Area ECB Press Conference](https://www.ecb.europa.eu/home/html/index.en.html?ref=newsletters.qs.com) πŸ‡¨πŸ‡¦ [Canada Ivey PMI s.a, May](https://www.statcan.gc.ca/?ref=newsletters.qs.com) πŸ‡¨πŸ‡³ [China Balance of Trade Data, May](http://www.customs.gov.cn/?ref=newsletters.qs.com) ### Friday, June 7th 2024 πŸ‡©πŸ‡ͺ [Germany Balance of Trade Data, April](https://www.destatis.de/DE/Home/%5Finhalt.html?ref=newsletters.qs.com) πŸ‡¨πŸ‡¦ [Canada Balance of Trade Data, April](https://www.statcan.gc.ca/?ref=newsletters.qs.com) πŸ‡¨πŸ‡¦ [Canada Employment Data, May](https://www.statcan.gc.ca/?ref=newsletters.qs.com) πŸ‡ΊπŸ‡Έ [US Employment Data, May](https://www.bls.gov/?ref=newsletters.qs.com) ### Monday, June 10th 2024 πŸ‡¦πŸ‡Ί [NAB Business Confidence, May](https://business.nab.com.au/?ref=newsletters.qs.com) ### Tuesday, June 11th 2024 πŸ‡¬πŸ‡§ [UK Employment Data, April ](https://www.ons.gov.uk/?ref=newsletters.qs.com) πŸ‡¨πŸ‡³ [China Inflation Data, May](http://www.stats.gov.cn/?ref=newsletters.qs.com) ### Wednesday, June 12th 2024 πŸ‡¬πŸ‡§ [UK GDP, April](https://www.ons.gov.uk/?ref=newsletters.qs.com) πŸ‡ΊπŸ‡Έ [US Core Inflation Data, May](https://www.bls.gov/?ref=newsletters.qs.com) πŸ‡ΊπŸ‡Έ [US Inflation Data, May](https://www.bls.gov/?ref=newsletters.qs.com) πŸ‡ΊπŸ‡Έ [US Fed Interest Rate Decision](https://www.federalreserve.gov/) πŸ‡ΊπŸ‡Έ [US FOMC Economic Projections](https://www.federalreserve.gov/) πŸ‡ΊπŸ‡Έ [US Fed Press Conference ](https://www.federalreserve.gov/) ### Thursday, June 13th 2024 πŸ‡ΊπŸ‡Έ [US PPI, May](https://www.bls.gov/?ref=newsletters.qs.com) ### Friday, June 14th 2024 πŸ‡―πŸ‡΅ [Japan BoJ Interest Rate Decision](https://www.boj.or.jp/?ref=newsletters.qs.com) πŸ‡ΊπŸ‡Έ [Michigan Consumer Sentiment (Preliminary), June](http://www.sca.isr.umich.edu/?ref=newsletters.qs.com) --- **Like getting this newsletter?* For unlimited access to more deals and economic updates,* [*request a demo*](https://webforms.pipedrive.com/f/1uMbIPRqUeVuZ31jVtKWMWIuqU2ga1nKo8aotNdGihU16zgOzuTfRMb9XfIIGmcOT?ref=newsletters.qs.com)*.* --- **Thank you for reading. 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