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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
Reuters
via
gCaptain
Iran’s Navy Tells Ships Strait of Hormuz Shut Again, Two Vessels Report Gunfire
ATHENS, April 18 (Reuters) – Merchant vessels attempting to cross the Strait of Hormuz on Saturday received radio messages from Iran’s navy telling them they were not allowed to pass, while two ships reported...
From
Reuters
via
gCaptain
Ukraine Strikes Two Russian Refineries, Baltic Sea Port
April 18 (Reuters) – Ukrainian drones struck a handful of Russia’s oil facilities overnight, including two oil refineries in the Samara region and a Baltic Sea port that exports petroleum products, Russian local governors...
From
Austin Schroeder
via
Barchart
Soybeans Push Higher int Friday’s Close
Soybeans closed with Friday gains of ½ to 4 ¾ cents across the board, with Marh slipping 8 ½ cents on the week. The cmdtyView national average Cash Bean price was up 4 cents at $11.02. Soymeal futures were down 90 cents to $3 higher on the day, closing the...
From
Austin Schroeder
via
Barchart
Corn Rallies Back to Close Higher on Friday
Corn futures closed the Friday session with most contracts fractionally to 2 ½ cents higher, shrugging off early weakness. July was an exception, down ¼ cent. The CmdtyView national average Cash Corn price was up 1/2 cent at $4.12 3/4. Crude oil fell $9.12 on the day following Iran agreeing...
From
Austin Schroeder
via
Barchart
Wheat Closes Mixed on Friday
The wheat complex closed with winter wheat weakness, with spring wheat higher on Friday. Chicago SRW futures were steady in some deferreds to 7 1/4 cents lower in the front months, as May was still up 20 ¼ cents this week. KC HRW futures were 1 ½ to 6 cents...
From
Ben DiCostanzo
via
Barchart
Cattle Markets Trade Lower in Front of the Cattle on Feed Report
Cattle Markets Crash and recover in front of the Cattle on Feed report
From
Chris Swift
via
Barchart
Shootin' the Bull about Equilibrium
In my opinion, the cattle market is believed moving into equilibrium. Rationing has caused significant shifts in domestic production and processing.
From
Reuters
via
gCaptain
Iran Requiring IRGC Coordination for Hormuz Transits
All ships can sail through the Strait of Hormuz but this needs to be coordinated with Iran’s Islamic Revolutionary GuardCorps (IRGC), a senior Iranian official told Reuters, adding that unfreezing Iranian funds was part of the deal.
From
Bloomberg
via
gCaptain
Greek Shipowner Sends Biggest Oil Tanker Yet Through Hormuz
(Bloomberg) — A Greek shipowner whose vessels have repeatedly braved the Strait of Hormuz during the Iran war sent through its biggest oil supertanker since the start of the conflict....
From
Lori Ann LaRocco
via
gCaptain
Hold the Champagne: Oil Recovery Faces Weeks of Delay as Supply Chain Shocks Deepen
Don’t be fooled by the latest declaration that the Strait of Hormuz is “open.” Many things still need to be put in place for that to truly happen. There is a lot of bluster right now—don’t get caught up in it.