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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
Mike Schuler
via
gCaptain
Fuel Costs, Tariffs Cloud Outlook for U.S. Container Imports
U.S. container imports are facing growing pressure from tariffs and rising fuel prices, even as the conflict involving Iran has yet to significantly disrupt cargo volumes moving through the nation’s...
From
Austin Schroeder
via
Barchart
Soybeans Trading Mixed at Midday
Soybeans are trading with mixed action as front months are up 1 to 2 cents and deferred down fractionally. The cmdtyView national average Cash Bean price is up 2 1/4 cents at $10.92 1/2. Soymeal futures are up 50 cents to $1 in the front months, with Soy Oil futures...
From
Austin Schroeder
via
Barchart
Wheat Collapsing on Wednesday
The wheat complex is falling on Wednesday with weakness spilling over from the crude oil. Chicago SRW futures is down 18 to 19 cents on the day. KC HRW futures are showing 14 to 15 cent losses at midday. MPLS spring wheat is 15 to 17 cents lower. Crude oil...
From
Austin Schroeder
via
Barchart
Corn Holding Lower on Wednesday as Oil Collapses
Corn futures are bouncing off the early session lows with contracts down 3 to 5 cents at midday. The CmdtyView national average Cash Corn price is down 2 3/4 cents at $4.07 ¾. Crude oil is down $18.32 at midday following a 2-week ceasefire between Iran and the US that...
From
Malte Humpert
via
gCaptain
CK Hutchison Launches Arbitration Against Maersk Over Panama Canal Port Dispute
Hong Kong conglomerate CK Hutchison has launched arbitration proceedings against Danish shipping group A.P. Moller-Maersk over the takeover of key ports near the Panama Canal, escalating a dispute involving commercial and geopolitical interests.
From
Reuters
via
gCaptain
Trump Announces 50% Tariffs on Nations Supplying Iran With Weapons
U.S. President Donald Trump said on Wednesday that imports from countries supplying Iran with military weapons will face immediate 50% tariffs with no exemptions, announcing the threatened duty in a social media post just hours after agreeing to a two-week ceasefire with Tehran.
From
Bloomberg
via
gCaptain
Qatar Begins Work to Resume LNG Production After Ceasefire
Qatar is mobilizing engineers and workers with the aim of resuming production at the world’s biggest liquefied natural gas export plant following a ceasefire in the war in the Middle East, according to people with knowledge of the matter.
From
Darin Newsom
via
Barchart
Did Watson Blow a Fuse With the Latest TACO Tuesday Trade?
After bouncing back and forth all day Tuesday, algorithms got the headline Tuesday night that the US president had backed off his threat to end Iran's civilization forever. Markets responded accordingly.
From
Malte Humpert
via
gCaptain
Hapag-Lloyd Sees Slow Return to Gulf Shipping After U.S.-Iran Ceasefire, Warns of Rising Disruption Costs
Hapag-Lloyd struck a cautious tone on Wednesday over a possible resumption of shipping through the Strait of Hormuz following a U.S.-Iran ceasefire, warning that a full return to normal operations could take up to two months.
From
Malte Humpert
via
gCaptain
Russia Oil Export Revenues Hit Highest Since Early Ukraine War as Prices Surge, Despite Ukrainian Port Attacks
Russia’s oil export revenues have climbed to their highest levels since the early months of the Ukraine war, driven by a surge in global crude prices and a partial recovery in shipment volumes, according to tanker-tracking data.
From
Reuters
via
gCaptain
Saudi Arabia’s Oil Pipeline Bypassing Hormuz Damaged in Iranian Attack, Source Says
Saudi Arabia's crucial East-West oil pipeline, currently its only outlet for crude exports, was hit in an Iranian attack and other facilities in the kingdom were also targeted, an industry source told Reuters on Wednesday.
From
Oliver Sloup
via
Barchart
Grain Markets Get Hit Hard
Grain markets get hit hard on last night’s open, but have battled back and stabilized some into the early morning trade. These are the levels to keep an eye on into tomorrow’s WASDE report