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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
China Confirms Three Ships Passed Through Strait of Hormuz
Three Chinese ships recently sailed through the Strait of Hormuz after coordination with relevant parties, a foreign ministry spokesperson told a regular daily press briefing on Tuesday, while calling for peace and stability in the Gulf Region.
From
Reuters
via
gCaptain
EU Tells Members to Prepare for ‘Prolonged Disruption’ to Energy Markets From Iran War
European Union governments should prepare for a "prolonged disruption" to energy markets as a result of the Iran war, the bloc's energy chief has told countries' ministers ahead of an emergency meeting on Tuesday.
From
Mike Schuler
via
gCaptain
Drone Strike Hits Laden Supertanker Off Dubai as Gulf Shipping Incidents Flare Again
A Kuwaiti supertanker carrying more than 2 million barrels of crude was struck by a drone in waters off Dubai late Monday, triggering a fire that was later brought under control without injuries or pollution, according to authorities and maritime security reports.
From
Bloomberg
via
gCaptain
U.S. Oil Closes Above $100 for First Time Since 2022 on Iran War
US oil prices ended Monday’s session above $100 a barrel for the first time since the US and Israel launched a war against Iran as President Donald Trump threatens further escalation of attacks, including on critical energy infrastructure.
From
Austin Schroeder
via
Barchart
Wheat Closes Mixed on Monday
The wheat complex posted mixed action on Monday, with KC the weakest. Chicago SRW futures were mostly fractionally to 2 ¾ cents higher. KC HRW futures were down 6 to 7 cents reverting from some recent strength. MPLS spring wheat was 2 to 4 cents higher on Monday. The Kansas...
From
Austin Schroeder
via
Barchart
Soybeans Pull Back to Steady into Monday’s Close
Soybeans saw weakness late on Monday as front months came back to close with fractionally mixed action. The cmdtyView national average Cash Bean price was up 3/4 cent at $10.87 3/4. Soymeal futures were down 40 cents to up 70 cents, with Soy Oil futures 52 to 106 points higher....
From
Austin Schroeder
via
Barchart
Corn Faces Pressure on Monday
Corn futures saw some pressure on Monday ahead of the end of March USDA reports on Tuesday, with contract closing down 3 ½ to 6 ¼ cents. The CmdtyView national average Cash Corn price was down 6 cents to $4.13 1/2. USDA reported a private export sale of 145,000 MT...
From
Ben DiCostanzo
via
Barchart
Hog Rally Stalls and Pulls Back
Hogs test resistance and pulls back to close below it
From
Chris Swift
via
Barchart
Shootin' the Bull about higher prices
After the run up on the opening, there wasn't much left to the market.
From
Jim Wyckoff
via
Barchart
Mark Your Calendars: Grain Traders Brace for Major USDA Data Points Tuesday
USDA grain market report days don’t come any bigger than Tuesday’s planting intentions and quarterly grain stocks reports.