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Shipping Industry News
Agri Port is your go-to source for the latest local and global industry news relevant to the shipping and grain vessel loading industry. Stay up-to-date with current events, new regulations, best practices, and essential industry updates that impact your operations.
From
Reuters
via
gCaptain
US Will Impose ‘Toughest Sanctions in History’ on Iran, Bessent Says
The U.S. will impose "the toughest sanctions in history" on Iran, Treasury Secretary Scott Bessent said on Thursday, a focus on economic measures he suggested would lessen the need for new major military operations against Tehran.
From
Reuters
via
gCaptain
Norway Boosts Defense Footprint with Expansion of Arctic Brigade
Norway expanded on Thursday a recently created military brigade headquartered in the Arctic, the latest move by a NATO nation to boost its defense footprint in the wake of the Ukraine war.
From
Bloomberg
via
gCaptain
Trump Threatens Economic Isolation for Iran and Its Trading Partners
US President Donald Trump threatened Iran and its trading partners with economic isolation after months of military strikes and a maritime blockade failed to force Tehran to capitulate.
From
Bloomberg
via
gCaptain
Soaring Panama Canal Fees Drive a Nascent LPG Shuttle Trade
Exporters including Chevron Corp. are turning to ship-to-ship transfers to send liquefied petroleum gas from the US to Asia, an apparent change in strategy that comes as users of the Panama Canal grapple with congestion and record transit fees.
From
Mike Schuler
via
gCaptain
Federal Labor Board Orders OSG and Alaska Tanker Company to Bargain With Deck Officers
The National Labor Relations Board has ordered two Saltchuk Resources tanker subsidiaries to recognize and bargain with the International Organization of Masters, Mates & Pilots (MM&P), following a long-running dispute...
From
gCaptain
via
gCaptain
Transpacific Container Rates Surge as Carriers Cut Capacity
Global container spot rates rose for a second straight week as tighter capacity and resilient demand pushed Transpacific prices sharply higher, according to Drewry. The Drewry World Container Index increased...
From
Lori Ann LaRocco
via
gCaptain
Maritime Markets Bracing for Long-term Disruption in the Middle East
By Lori-Ann LaRocco – The strong undertow of political bluster, a lack of data, vessel attacks and the political calendar have transformed the flow of trade in the Middle East....
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From
Austin Schroeder
via
Barchart
Soybeans Posting Midday Gains Following Bean Oil Rally
Soybeans are rallying on Tuesday, with bean oil continuing to pull the market higher. Futures are up 9 to 11 cents. The cmdtyView national average Cash Bean price is up 9 3/4 cents at $11.11 1/4. Soymeal futures are down 30 to 70 cents on the day, with Soy Oil...
From
Reuters
via
gCaptain
Shipping Traffic Through Hormuz Still Largely Halted
Shipping traffic through the Strait of Hormuz remained broadly halted on Tuesday with only three ships passing the waterway in the past 24 hours, shipping data showed.
From
Bloomberg
via
gCaptain
Billionaire Fredriksen’s Firm Faces $1 Billion Claim After Failed Fraud Trial
Two former executives at billionaire John Fredriksen’s oil trading firm sued for about $1 billion in over allegations that the shipping tycoon’s failed “vindictive” lawsuit brought them to the “brink of financial ruin.”
From
Mike Schuler
via
gCaptain
Shipping Industry Closes Ranks Behind IMO Ahead of High-Stakes Climate Talks
International Maritime Organization faces a defining moment next week as global shipping groups line up in rare unity behind the regulator ahead of renewed climate negotiations at Marine Environment Protection Committee 84 in...
From
Mike Schuler
via
gCaptain
U.S. Forces Board Sanctioned Tanker in Indo-Pacific as Iran Crackdown Expands Beyond Hormuz
U.S. forces have boarded a sanctioned oil tanker in the Indo-Pacific, signaling a widening of Washington’s maritime enforcement campaign against Iran-linked shipping far beyond the Strait of Hormuz flashpoint. In...
From
Jim Wyckoff
via
Barchart
Corn Prices Likely Just Hit a Bottom: Where Do They Go From Here?
July corn futures present a buying opportunity on more price strength.
From
Austin Schroeder
via
Barchart
Soybeans Posting Tuesday Morning Gains
Soybeans are trading with Tuesday AM 3 to 6 cent gains Futures slipped lower in the front months into the Monday close, down ¾ to 1 ½ and ½ to 2 ¼ cents higher in the deferreds. Open interest was down 5,075 contracts on Monday. The cmdtyView national average Cash...
From
Austin Schroeder
via
Barchart
Corn Starting Tuesday with Fractional Losses
Corn price action is down ¼ cent to a penny so far on Tuesday morning trade. Futures posted Monday gains of 1 ¼ to 3 ¼ cents across the board. Open interest was down 2,561 contracts on Monday, with 28,719 contracts exiting May. The CmdtyView national average Cash Corn price...
From
Austin Schroeder
via
Barchart
Wheat Feeling Weakness on Tuesday Morning Despite Deteriorating Condition Ratings
Wheat is starting off Tuesday with slight losses. The wheat complex was mixed across the three exchanges on Monday with HRW weakness. Chicago SRW futures were up 3 ¾ to 7 ¼ cents across the board. Open interest slipped 6,458 contracts on Monday, mostly in May (-9,137). KC HRW futures...
From
Oliver Sloup
via
Barchart
Grain markets have been stuck in well defined ranges, is that about to change?
Corn, soybeans, and wheat have been choppy and rangebound over the last few weeks. Is that about to change as we get deeper into planting and crop progress season?
From
Malte Humpert
via
gCaptain
US Coast Guard Icebreaker ‘Polar Star’ Returns Home After Antarctic Mission
The U.S. Coast Guard’s sole heavy icebreaker, the Polar Star, has returned to its homeport of Seattle after completing a months-long Antarctic deployment supporting critical resupply operations for U.S. research stations.
From
Reuters
via
gCaptain
China Flexes Energy Leverage As the Philippines, US Start Annual War Games
China on Tuesday implied energy assistance for the Philippines could be tied to Manila holding military drills with the U.S. and other allies, as its top newspaper showed Beijing's readiness to leverage its reserves in diplomatic disputes.