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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
U.S. Pushes ‘Weeks, Not Months’ Iran Timeline as Hormuz Shipping Crisis Deepens
The U.S. expects its operation against Iran to conclude within weeks, not months, and Washington can meet all its objectives without using ground troops, U.S. Secretary of State Marco Rubio said on Friday.
From
Bloomberg
via
gCaptain
Global LNG Supply Cut Further After Cyclone Hits Australian Plants
Three Australian plants that provide about 8% of the world’s liquefied natural gas have had their output curbed by a cyclone, in a further blow to mainly Asian buyers reeling from the halt of shipments from Qatar.
From
Mike Schuler
via
gCaptain
UN Pushes ‘Hormuz Mechanism’ as Hormuz Disruptions Threaten Global Food Supply
The United Nations is stepping up efforts to contain the fallout from the escalating crisis in the Strait of Hormuz, advancing a new humanitarian-focused shipping mechanism as thousands of vessels remain effectively trapped inside the Gulf.
From
Austin Schroeder
via
Barchart
Wheat Pushing Higher to Close the Week
The wheat complex is trading with strength on Friday. Chicago SRW futures is showing fractional gains on Friday. KC HRW futures are trading with 6 to 7 cent gains across the front months to lead the wheat charge. MPLS spring wheat is 3 to 4 cents higher at midday on...
From
Austin Schroeder
via
Barchart
Corn Falling Back on Friday
Corn futures are trading with contracts 2 to 4 cents lower on Friday’s midday, easing lower into the weekend. The CmdtyView national average Cash Corn price is down 3 1/4 cents to $4.21 1/4. Export Sales data from Thursday tallied old crop corn commitments at 68.875 MMT, a 30% improvement...
From
Austin Schroeder
via
Barchart
Soybeans Selling the Fact Following RVO Announcement
Soybeans are trading with contracts 9 to 10 cents lower in the front months and deferreds down 3 to 5 cents, The cmdtyView national average Cash Bean price is down 9 cents at $10.91 1/4. Soymeal futures are showing $4 to $5 losses at midday, with Soy Oil futures 21...
From
Mike Schuler
via
gCaptain
Stricken Bulk Carrier Mayuree Naree Runs Aground on Iran’s Qeshm Island
A Thai-flagged bulk carrier struck in the Strait of Hormuz earlier this month has now run aground on Iran’s Qeshm Island, as rescue teams continue searching for three missing crew members feared trapped...
From
Reuters
via
gCaptain
Chinese Boxships Abort First Hormuz Exit Attempt, Undermining Iran ‘Safe Passage’ Claims
Two Chinese container ships turned backed after trying to exit the Gulf via the Strait of Hormuz on Friday, ship-tracking data showed, despite assurances from Iran that Chinese vessels could pass.
From
Jim Wyckoff
via
Barchart
Bulls Are in Control of Soybean Meal. Make This 1 Trade Now.
July soybean meal futures present a buying opportunity on more price strength.
From
Austin Schroeder
via
Barchart
Wheat Posting Friday Morning Strength
Wheat is higher so far on Friday AM trade. The wheat complex found some renewed strength on Thursday. Chicago SRW futures were 4 ½ to 7 ¼ cents higher in the front months on the day. Open interest was up 2,130 contracts on Thursday. KC HRW futures saw 4 to...
From
Austin Schroeder
via
Barchart
Corn Showing Gains Ahead of the Weekend
Corn price action is up 1 to 2 cents so far on Friday morning. Futures closed the Thursday session with bulls giving a late push, as contracts were fractionally to 2 ¼ cents higher. May was the lonely holdout, down ¼ cent. Open interest was up 6,091 contracts across the...
From
Austin Schroeder
via
Barchart
Soybeans Posting Friday AM Gains
Soybean are trading 2 to 4 ½ cents higher on Friday morning. Futures saw gains of 1 ¾ to 5 ½ cent gains in the front months on Thursday. Preliminary open interest was up 6,257 contracts. The cmdtyView national average Cash Bean price was up 2 1/4 cents at $11.00...