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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
Chris Swift
via
Barchart
Shootin' the Bull about Warning's from the CME
In my opinion, you would think there would be a chapter, if not a book, to write about this week's price action.
From
The Loadstar
via
gCaptain
Middle East Conflict Dampens Fears of Container Sector Overcapacity
The conflict in the Middle East could significantly alter expectations of looming overcapacity in the container shipping sector. The prolonged Red Sea disruptions are absorbing vessel capacity and keep freight markets tighter than anticipated.
From
Austin Schroeder
via
Barchart
Corn Pushing Higher on Friday
Corn futures are trading with 1 to 4 cent gains in the front months on Friday. March expires at the close, with another 49 deliveries issued overnight. The CmdtyView national average Cash Corn price is up 3 3/4 cents to $4.23 ¾. Crude oil is bouncing off early lows and...
From
Austin Schroeder
via
Barchart
Wheat Rallying on Friday
The wheat complex is trading with double digit gains on Friday. Chicago SRW futures are up 14 to 16 cents so far on the day. KC HRW futures are 19 to 20 cents in the green in the front months. MPLS spring wheat is showing 12 to 13 cent gains...
From
Austin Schroeder
via
Barchart
Soybeans Popping Off Early Lows at Midday
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...
From
Bloomberg
via
gCaptain
Supertankers Build Up in Red Sea as Saudi Arabia Races to Bypass Hormuz
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.
From
Mike Schuler
via
gCaptain
Sweden Boards Sanctioned Tanker Suspected of Sailing Under False Flag
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...
From
Mike Schuler
via
gCaptain
Cruise Ship Grounds on Reef in Papua New Guinea After ECDIS Route Change Derails Approach
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...
From
Reuters
via
gCaptain
European Allies Riled as US Loosens Russia Oil Sanctions
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.
From
Oliver Sloup
via
Barchart
Markets Chop Around Ahead of Another Weekend of Uncertainty
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.
From
Bloomberg
via
gCaptain
US Treasury Allows More Russian Oil Sales to Help Tame Prices
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.