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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
Oliver Sloup
via
Barchart
Ag Markets Finish Green on St Patrick’s Day
Grain markets got hit hard on Monday but were able to stabilize on Tuesday. Headlines and technicals continue to be key drivers in price action. These are the levels we are watching closely this week. Tune in to learn more!
From
Chris Swift
via
Barchart
Shootin' the Bull about cattle feeders
Cattle feeders took it upon themselves to bid feeder cattle higher in the face of mounting input costs the past two days. Feed, fuel, and money remain elevated in comparison to just 3 weeks ago.
From
Bloomberg
via
gCaptain
Iran War Upheaval Jolts Shipping Fuel Suppliers in Singapore
A widening conflict in the Middle East has led to dramatic swings and surges in the price of fuel for ships, prompting distributors in Singapore, the world’s top bunkering hub, to cut back their purchases.
From
Bloomberg
via
gCaptain
Marinakis-Backed Capital Tankers Slides on Oslo Debut as Hormuz Crisis Jolts Markets
Crude tanker-owner Capital Tankers Corp.’s shares fell in their Oslo debut on Tuesday, as the closure of the Strait of Hormuz has disrupted global oil transit and markets.
From
Austin Schroeder
via
Barchart
Wheat Holding Lower on Tuesday
Wheat is falling lower on so far on Tuesday’s midday. Chicago SRW futures are 5 to 7 cents in the red so far. KC HRW futures are 8 to 10 cents lower at midday. MPLS spring wheat is down 5 to 6 cents in the front months on Tuesday. The...
From
Austin Schroeder
via
Barchart
Corn Holding Steady on Tuesday
Corn futures are trading with fractionally mixed action on Tuesday, shrugging off early weakness. The CmdtyView national average Cash Corn price is down 1/2 cent to $4.10. Crude is up $2.52 at midday. Ukraine’s economic ministry estimates the country will plant 4.42 million hectares (10.92 million acres) of corn this...
From
Austin Schroeder
via
Barchart
Soybeans Bouncing Higher on Turnaround Tuesday
Soybeans are showing a bounce on Tuesday, with turnaround action of 6 to 15 cents higher. The cmdtyView national average Cash Bean price is up 6 1/2 cents at $10.86 1/4. Soymeal futures are $0.80 to $1.00 lower in the front, with Soy Oil futures up 195 to 206 at...
From
Mike Schuler
via
gCaptain
Trump Declares U.S. ‘Doesn’t Need Anyone’ After Allies Balk at Hormuz Mission
President Donald Trump said Tuesday that NATO allies have refused to support U.S. military operations against Iran, publicly acknowledging growing divisions within the Western alliance as efforts to assemble a...
From
Mike Schuler
via
gCaptain
Ships Hug Iran’s Coast in Emerging Hormuz Workaround
New tracking data suggests “permission-based” transits may be reshaping one of the world’s most critical shipping lanes A new routing pattern is emerging in the Strait of Hormuz as vessels...
From
Mike Schuler
via
gCaptain
‘No Imminent Threat’: Trump’s Counterterrorism Chief Resigns Amid Rift Over Iran War
National Counterterrorism Center (NCTC) Director Joe Kent announced his resignation Monday, citing opposition to the ongoing war in Iran and asserting that Tehran posed “no imminent threat” to the United...
From
Reuters
via
gCaptain
Oil Tankers ‘Starting to Dribble Through’ Strait of Hormuz, says White House
Oil tankers are crossing the Strait of Hormuz and Iran's actions to choke traffic through the shipping route have not hurt the U.S. economy, White House economic adviser Kevin Hassett told CNBC on Tuesday, reiterating the Trump administration's position that the war should be over in weeks, not months.