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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 Firming Higher at Midday
Soybeans are trading with contracts fractionally higher in the nearbys to a nickel higher in the new crop months. The cmdtyView national average Cash Bean price is up 3/4 cent at $11.02 1/2. Soymeal futures are $2 to $3 lower on the day, with Soy Oil futures up 190 to...
From
Reuters
via
gCaptain
How the U.S. Could Clear Mines From the Strait of Hormuz
April 16 (Reuters) – As the United States embarks on clearing mines from the Strait of Hormuz, it could draw on an arsenal of drones, explosive?laden robots and helicopters to reduce risks,...
From
Mike Schuler
via
gCaptain
Six-Week Container Spot Rate Rally Runs Out of Steam
The six-week rally in global container freight rates has come to an end, with the latest reading from the Drewry World Container Index (WCI) showing a 3% decline to $2,246 per 40-foot container....
From
Mike Schuler
via
gCaptain
U.S. Expands Iran Blockade With Global Boarding Powers, Broad ‘Contraband’ Crackdown
The U.S.-led maritime blockade of Iranian ports has entered a new and more aggressive phase, with fresh guidance confirming that American forces can now stop, board, and potentially seize vessels...
From
Bloomberg
via
gCaptain
Half-Full Tanker Heading to Japan Highlights Scramble for Oil
A partially filled supertanker heading to Japan after receiving its Middle Eastern oil cargo via a ship transfer at sea highlights the desperate measures the nation’s refiners are taking to secure supply quickly.
From
Austin Schroeder
via
Barchart
Corn Holding Steady on Thursday Morning
Corn price action is steady on Thursday AM trade, with front months down a penny to fractionally higher in some new crop. Futures posted 4 ¾ to 8 ¼ cent gains across most contracts on Wednesday. Open interest was down 10,378 contracts on the midweek session, mostly coming out of...
From
Austin Schroeder
via
Barchart
Wheat Rallying to Kick Off Thursday Trade
Wheat is extending the rally to Thursday, with gains across the board. The wheat complex posted marginal gains on Wednesday with contracts higher across the three exchanges. Chicago SRW futures were fractionally to 3 cents higher. Open interest rose 3,976 contracts. KC HRW futures saw 2 ¼ to 3 ¼...
From
Austin Schroeder
via
Barchart
Soybeans Slipping to Start Thursday Trade
Soybeans are down fractionally to 2 cents so far on Thursday morning. Futures were in rally mode on the midweek session, with contracts 9 to 11 cents higher at the close. Open interest suggested net new buying, up 21,537 on Wednesday. The cmdtyView national average Cash Bean price was up...
From
Reuters
via
gCaptain
US-Sanctioned Supertankers Enter Gulf Despite Blockade
A second U.S.-sanctioned supertanker has entered the Gulf via the Strait of Hormuz, shipping data showed, despite a U.S. blockade on vessels visiting Iranian ports.
From
Reuters
via
gCaptain
Iran War Pushes U.S. to Brink of Net Oil Exporter Status Not Seen Since WWII
The U.S. nearly turned into a net crude exporter last week for the first time since World War Two as shipments surged close to a record high to meet demand from Asian and European buyers scrambling to replace Middle East supplies cut by the Iran war.
From
Austin Schroeder
via
Barchart
Soybeans Post Strength on Wednesday
Soybeans were in rally mode on the midweek session, with contracts 9 to 11 cents higher at the close. The cmdtyView national average Cash Bean price was up 11 cents at $11.01 3/4. Soymeal futures were $1.10 to $4.70 higher on the day, with Soy Oil futures up steady to...
From
Austin Schroeder
via
Barchart
Wheat See Marginal Strength on Wednesday
The wheat complex posted marginal gains on Wednesday with contracts higher across the three exchanges. Chicago SRW futures were fractionally to 3 cents higher. KC HRW futures saw 2 ¼ to 3 ¼ cent gains. MPLS spring wheat was 1 to 2 ¼ cents higher. Export Sales data will be...