Shipping Industry News

At least 40% of Russia's oil export capacity is at a halt following Ukrainian drone attacks, a disputed attack on a major pipeline and the seizure of tankers, according to Reuters calculations based on market data.

Equinor has officially moved into the drilling phase of its massive Raia gas development offshore Brazil, marking a key step forward for one of the country’s most strategically important energy projects.

Vessels seeking to transit the Strait of Hormuz under Iranian protection are being asked to provide lists of crew and cargo, along with voyage details and bills of lading, in order to secure a green light from the Islamic Revolutionary Guard Corps.

Iran said it rejected a US ceasefire proposal and maintained attacks on Israel and Gulf Arab states, delivering a blow to Washington’s efforts to end a war that’s wreaked havoc across the Middle East and global markets.

Russia’s Ust-Luga port on the Baltic Sea has halted crude loadings as Ukraine carried out the most intense air strike on its foe in more than a year, setting some of the port facilities on fire.

Soybeans are showing 3 to 5 cent gains so far on Wednesday AM trade. Futures were pressured into the Tuesday close, with contracts down 2 3/4 to 8 ½ cents across the board. The cmdtyView national average Cash Bean price was down 1 3/4 cents at $10.78 1/2. Soymeal futures...

Corn price action is down 2 to 2 ½ cents so far on Wednesday morning. Futures saw gains of 2 to 3 cents in most contracts on Tuesday, with some deferred contracts steady to fractionally higher. Open interest was down 5,449 contracts on Tuesday, mostly in the May contract (-9,034),...

Wheat is showing losses in the three exchanges on Wednesday morning. The wheat complex was higher across the three markets on Tuesday. Chicago SRW futures were up 2 to 3 cents to close out the day. Open interest was up 3,943 contracts on Tuesday, mainly in July. KC HRW futures...

A Ukrainian drone strike on the Russian port of Vyborg has reportedly damaged the Arctic patrol icebreaker Purga, a dual-role military vessel under construction for Russia’s FSB Border Service, with images showing the ship listing at berth.

Libyan authorities have secured the damaged Russian LNG tanker Arctic Metagaz after weeks adrift in the central Mediterranean, taking decisive action that European coastal states had failed to undertake despite mounting environmental and navigational risks.

I am Stephen Davis, senior market strategist at Walsh Trading, Inc., Chicago, Illinois. You can reach me at 312-878-2391. Oil is not the only commodity affected by the blockade of the Strait of Hormuz in the Middle East. The export of ingredients needed for fertilizer - urea, ammonia and phosphates...

Iran has indicated to the United Nations that so-called “non-hostile vessels” may continue transiting the Strait of Hormuz, but only if they comply with Iranian security requirements and coordinate directly...