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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
Hormuz At Near Standstill as Iran Warns Ships to Keep to Its Waters
Iran's Islamic Revolutionary Guard Corps (IRGC) warned ships to keep to a route passing through its territorial waters when crossing the Gulf’s Strait of Hormuz as traffic on Thursday remained well below 10% of normal volumes.
From
Austin Schroeder
via
Barchart
Soybeans Starting Thursday with Gains
Soybeans are trading 3 to 4 cents higher on Thursday morning. Futures closed the Wednesday session with contracts steady to 3 ¾ cents in the green, getting support from meal. Open interest was down 18,217 contracts in May as the Goldman roll kicks off, with July rising 19,402 contracts. The...
From
Austin Schroeder
via
Barchart
Corn Bouncing Ahead of USDA Data
Corn price action is up 1 to 2 ½ cents in the front months on Thursday morning. Futures saw some buying off the early overnight lows, but still managed to close with losses of 1 ¾ to 3 ½ cents. Open interest suggested longs were exiting on Wednesday, down 8,641...
From
Austin Schroeder
via
Barchart
Wheat Bouncing on Thursday Morning
Wheat is kicking off Thursday trade with contract higher across the three markets. The wheat complex was under pressure on Wednesday as money was coming out with pressure from crude oil. Chicago SRW futures was down 13 to 17 ¾ cents in the nearbys on the day. Open interest was...
From
Reuters
via
gCaptain
Trump Warns of Major War Escalation If Iran Peace Process Fails
U.S. President Donald Trump vowed to retain military assets in the Middle East until a peace deal with Iran is reached and warned of a major escalation in fighting if it failed to comply, as oil prices rose on concerns over supply and restrictions in the Strait of Hormuz.
From
Bloomberg
via
gCaptain
Russia Offers Sanctioned LNG to Energy-Hungry Asia at a Discount
Russia is seeking to leverage a global natural gas supply crunch to lure energy-starved South Asia into purchasing shipments from its US-sanctioned facilities, according to people familiar with the matter.
From
Bloomberg
via
gCaptain
China Tankers Join Line to Test Hormuz Exit and Iran Truce
Two fully laden Chinese oil tankers are waiting near the Strait of Hormuz with a third on its way, putting them in a position to become the first such vessels to leave the Persian Gulf under a day-old US-Iran ceasefire, even as shipowners scrutinize the details of the truce.
From
Mike Schuler
via
gCaptain
Shipping Avoids Hormuz Lanes as Iran Pushes Vessels Toward Controlled Corridors
The Trump administration has insisted the Strait of Hormuz is open following the ceasefire, but early shipping data suggests otherwise. Vessel movements remain extremely limited, with no meaningful return to...
From
Austin Schroeder
via
Barchart
Soybeans Shrug Off Oil Losses for Gains on Wednesday
Soybeans closed the Wednesday session with contracts steady to 3 ¾ cents in the green, getting support from meal. The cmdtyView national average Cash Bean price was up 4 cents at $10.93 1/4. Soymeal futures were up $2.30 to $5.20 on the day, with Soy Oil futures down 150 to...
From
Austin Schroeder
via
Barchart
Corn Recover Off Lows, Still Close in the Red on Wednesday
Corn futures saw some buying off the early overnight lows, but still managed to close with losses of 1 ¾ to 3 ½ cents. The CmdtyView national average Cash Corn price was down1 1/2 cents at $4.08. Crude oil was down $16.45 on the day following a 2-week ceasefire between...
From
Austin Schroeder
via
Barchart
Wheat Collapses on Wednesday with Crude Oil Pressure
The wheat complex was under pressure on Wednesday as money was coming out with pressure from crude oil. Chicago SRW futures was down 13 to 17 ¾ cents in the nearbys on the day. KC HRW futures posted 7 to 12 1/4 cent lower trade into the final bell. MPLS...
