Shipping Industry News

Soybeans are showing slight losses on Friday’s midday, as they bounce off the early lows. March expires at the close. The cmdtyView national average Cash Bean price is down 1/4 cent at $11.52 1/4. Soymeal futures are up $1 to $3 at midday, with Soy Oil futures are steady to...

Saudi Arabia’s race to bypass the Strait of Hormuz has led to a buildup of oil supertankers waiting off the kingdom’s Red Sea coast to collect cargoes, as Riyadh tries to overcome unprecedented disruption caused by the Iran war. In the past day or so, 11 very-large crude carriers reached the port of Yanbu and are now waiting nearby before starting loading, ship-tracking data compiled by Bloomberg show.

Swedish authorities have boarded a sanctioned oil tanker in the Baltic Sea after determining the vessel may be operating under a false flag, marking the second maritime intervention near the...

An Australian expedition cruise ship grounded on a reef while approaching a remote harbor in Papua New Guinea after a last-minute route modification in the ship’s electronic navigation system delayed...

Ukraine and its European allies hit out on Friday at a U.S. temporary waiver to allow countries to buy sanctioned Russian oil and petroleum products stranded at sea, with Ukrainian President Volodymyr Zelenskiy warning it would fund Moscow's war machine.

Markets continue to trade in tandem with the energy complex, keeping shorter term opportunities plentiful. These are the levels to watch for the last trading day of the week.

The US issued a second authorization letting countries buy more Russian oil that’s stuck on tankers due to sanctions, part of the White House’s push to prevent prices from surging. The temporary move, which widens a waiver given to India last week, only applies to oil already in transit and as such won’t provide significant financial support for the Russian government, Treasury Secretary Scott Bessent, in a social media post.

The second set of U.S. waivers on Russian oil and vessel tracking data shows both the Iranian and Russian shadow fleets are profiting off the U.S./Israel war against Iran. Lloyd’s list data tracked over half of the tankers and gas carriers traversing the Strait of Hormuz as Iranian. Container ships are also included.

Corn price action is down 1 to 3 cents in the front months on Friday morning. Futures closed the Thursday session with contracts fractionally to 4 cents higher across the board. Open interest rose another 28,874 contracts on Thursday. March expires on Friday, with another 49 deliveries issued overnight. The...

Wheat is showing slightly higher trade on Friday morning. The wheat complex closed the Thursday session with mixed trade, as SRW contracts were the strongest and spring wheat the weakest. Chicago SRW futures were up 2 1/4 to 3 3/4 cents on the day. Open interest was up 5,140 contracts....

Soybeans are trading with 5 to 8 cent losses in the front months on Friday. Futures slipped back from the midday highs, as contracts were still 2 ½ to 13 ¼ cents higher, led by the front months. Preliminary open interest was up 9,786 contracts on Thursday. March expires at...

Italian authorities are weighing how to deal with a Russian liquefied natural gas tanker left adrift in the Mediterranean after what Moscow described as a Ukrainian drone attack, sources said on Friday.