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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
Brady Sidwell
via
Barchart
Fed rate pause while markets await direction from crude oil
Cattle-on-Feed released Friday
From
Mike Schuler
via
gCaptain
Trump Administration Unlocks Sanctioned Iranian Oil at Sea as Hormuz Crisis Strains Markets
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) on Friday issued a new general license authorizing the delivery and sale of Iranian-origin crude oil and petroleum products already loaded...
From
Mike Schuler
via
gCaptain
Trump Signals Endgame in Iran, Says Hormuz Security Will Fall on ‘Nations Who Use It’
President Donald Trump on Friday signaled that U.S. military objectives against Iran are nearing completion, outlining a sweeping set of goals that include the destruction of Tehran’s military capabilities while indicating the United States...
From
Austin Schroeder
via
Barchart
Wheat Collapses Lower on Friday
The wheat complex faced pressure across the three markets on Friday. Chicago SRW futures were 12 to 13 1/2 cents lower, as May fell 18 ½ cents. KC HRW futures were 21 to 21 1/2 cents in the red at the close, with May down 23 ¾ for the week....
From
Austin Schroeder
via
Barchart
Soybeans Fade Lower into Friday’s Close
Soybeans were under pressure on Friday, with contracts down 5 to 11 ¼ cents across the board. May was down 64 cents on the week. The cmdtyView national average Cash Bean price was down 7 cents at $10.87 1/2. Pressure came from Soymeal futures, which were down $2.80 to $4.50,...
From
Austin Schroeder
via
Barchart
Corn Head into the Weekend with Losses
Corn futures sputtered late on Friday, with contracts down 3 ½ to 4 ¼ cents on Friday, as some deferreds were fractionally lower. May was down 1 ¾ cents this week. The CmdtyView national average Cash Corn price was down 4 cents to $4.23 3/4. The Friday update to the...
From
Ben DiCostanzo
via
Barchart
Cattle Markets Rebound Sharply in Front of Cattle on Feed
Markets erase Thursday's decline in front of Cattle on Feed.
From
Bloomberg
via
gCaptain
Iran Digs In: Regime Refuses Talks as War Escalation Sends Oil Prices Soaring
Iranian officials have become reluctant to even discuss reopening the Strait of Hormuz as they focus on surviving the US-Israeli onslaught, according to a person involved in direct, high-level contacts with Tehran.
From
Reuters
via
gCaptain
Indian Gas Tankers Getting Ready to Sail Through Hormuz
Two Indian-flagged liquefied petroleum gas tankers are preparing to sail through the Strait of Hormuz in coming days after a pause in voyages, with no crude oil tankers having transited the waterway in the past 24 hours, according to shipping data and sources.
From
Reuters
via
gCaptain
Fire-Damaged LNG Tanker Arctic Metagaz Could Reach Libyan Coast Within Days, Officials Warn
A damaged Russian LNG tanker that has been drifting unmanned in the Mediterranean for more than two weeks, risking a major ecological disaster, is four to six days from Libya’s shores, an Italian official said on Friday.