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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
Austin Schroeder
via
Barchart
Corn Posting Thursday Morning Gains
Corn price action is 4 to 5 cents higher so far on Thursday AM trade. Futures closed out the Wednesday session with contracts 7 to 9 cents higher and some deferred contracts 2 to 4 ¾ cents in the green. Open interest rose 18,163 contracts on Wednesday, mainly in July...
From
Austin Schroeder
via
Barchart
Soybeans Higher to Start Thursday Trade
Soybeans are trading fractionally higher in some front months early on Thursday, as November is up 6 cents. Futures posted 4 ¾ to 10 ¼ cent gains across the front months on Wednesday, as new crop led the charge with the new crop soy/corn ratio creeping towards 2.33. Open interest...
From
Austin Schroeder
via
Barchart
Wheat Pushing Gains to Start Thursday
Wheat is higher across the three markets on Thursday. The wheat complex rallied double digits on the Wednesday session. Chicago SRW futures were 11 to 14 3/4 cents higher on the day. Open interest showed some rotation of ownership, up just 472 contracts. KC HRW futures were 18 1/4 to...
From
Mike Schuler
via
gCaptain
Trump Blames Israel for South Pars Attack, Warns Iran of Massive Retaliation
President Donald Trump on Wednesday warned of overwhelming U.S. retaliation against Iran if attacks on Qatar’s energy infrastructure continue, following a major escalation that has already disrupted global LNG markets. In a...
From
Bloomberg
via
gCaptain
Qatar Reports Extensive Damage at World’s Largest LNG Plant
A Qatari complex housing the world’s largest liquefied natural gas export plant suffered “extensive damage” after a missile strike, hours after Iran threatened energy facilities across the Persian Gulf.
From
Austin Schroeder
via
Barchart
Wheat Closes in Rally Mode on Wednesday
The wheat complex rallied double digits on the Wednesday session. Chicago SRW futures were 11 to 14 3/4 cents higher on the day. KC HRW futures were 18 1/4 to 23 1/4 cents in the green. MPLS spring wheat was up 11 to 13 cents at the close. The next...
From
Austin Schroeder
via
Barchart
Soybeans Post Wednesday Gains
Soybeans posted 4 ¾ to 10 ¼ cent gains across the front months on Wednesday, as new crop led the charge with the new crop soy/corn ratio creeping towards 2.33. The cmdtyView national average Cash Bean price was up 5 cents at $10.87 3/4. Soymeal futures were $4.00 to $10.00...
From
Austin Schroeder
via
Barchart
Corn Rallies on Wednesday
Corn futures closed out the Wednesday session with contracts 7 to 9 cents higher and some deferred contracts 2 to 4 ¾ cents in the green. The CmdtyView national average Cash Corn price was up 9 ¼ cents to $4.20. Crude was up $3.61 on the day and $8 off...
From
Sean Lusk
via
Barchart
Grain Spreads: Bull Being Fed in Wheat
Potential Breakout in the Wheat Complex
From
Walsh Trading
via
Barchart
Chart of the Day - May Soybean Oil
Soybean Oil appears poised for a retracement lower.
From
Mike Schuler
via
gCaptain
Trump Waives Jones Act for 60 Days—Shipping Interests Say It Won’t Help Lower Gas Prices
The White House has approved a 60-day Jones Act waiver, moving forward with a controversial policy that U.S. shipping interests warned just days ago would do little to lower fuel...
From
Chris Swift
via
Barchart
Shootin' the Bull about mounting input costs and questionable consumer demand
Futures traders were able to eke out a positive close on what appeared to be mounting input costs and questionable consumer demand.