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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
Reuters
via
gCaptain
Indian Source Says Iran to Allow India-Flagged Tankers Through Hormuz as First Tanker Arrives
Iran will allow Indian-flagged tankers to transit the Strait of Hormuz, a conduit for 40% of the South Asian nation's crude imports, an Indian government source said on Thursday, but an Iranian source outside the country denied any such deal was reached.
From
Bloomberg
via
gCaptain
US Hormuz Escorts May Start by End of the Month, Wright Says
The US Navy could start escorting tankers through the Strait of Hormuz by the end of this month, Energy Secretary Chris Wright said.
Wright said on CNBC on Thursday US military assets were currently focused on destroying Iran’s offensive capabilities and weapons manufacturing, but could shift focus to protecting shipping traffic in the coming weeks.
From
Oliver Sloup
via
Barchart
Grain Markets Run Back to the Highs!
Grain markets are relatively quiet in the early morning trade with a holiday tomorrow and July options expiration on Friday.
From
Austin Schroeder
via
Barchart
Wheat Closes with Higher Trade on Wednesday
The wheat complex saw higher trade on Wednesday. Chicago SRW futures were 3 to 4 cents in the green on Wednesday. Open interest rose 9,021 contracts, suggesting new buying. KC HRW futures were up 4 to 5 cents in the front months. MPLS spring wheat was up 3 cents in...
From
Austin Schroeder
via
Barchart
Soybeans Continue Double Digit Gains on Thursday Morning
Soybeans are trading with 15 to 17 cent gains so far on Thursday. Futures saw gains of 12 to 14 cents in the front months on Wednesday. Open interest showed net new buying, up 15,897 contracts. There were 23 deliveries notices against March futures overnight. The cmdtyView national average Cash...
From
Austin Schroeder
via
Barchart
Corn Rally Continues on Thursday Morning
Corn prices are 4 to 6 cents higher so far on Thursday morning. Futures closed with 8 to 9 cent gains in the front months on Wednesday. Open interest was up 46,175 contracts on Wednesday. There were 137 deliveries issued against March corn overnight. The CmdtyView national average Cash Corn...
From
Trent Klarenbach
via
Barchart
Canola and the RSI
We take a brief look at the Canola Nearby weekly chart and the RSI
From
Malte Humpert
via
gCaptain
Russia Pushes Icebreakers to 270 Days at Sea as Sanctions Slow Arctic Fleet Renewal
Russia will push its nuclear-powered icebreakers to sea for up to 270 days a year, increasing workloads as an ageing fleet, sanctions-related delays and unpredictable ice conditions strain Moscow’s ability to escort cargo along the Northern Sea Route.
From
Mike Schuler
via
gCaptain
U.S. to Release 172 Million SPR Barrels as New Tanker Attacks Drive Oil Higher
The United States will release 172 million barrels of crude oil from the Strategic Petroleum Reserve (SPR) beginning next week as part of a record 400-million-barrel coordinated stock draw agreed by the International Energy...
From
Mike Schuler
via
gCaptain
Tankers and Containership Hit Across Persian Gulf as Maritime Attacks Continue
A new series of maritime attacks has struck commercial vessels across the Persian Gulf overnight, signaling that the shipping conflict linked to the escalating U.S.–Israel confrontation with Iran is continuing...
From
Austin Schroeder
via
Barchart
Wheat Closes with Higher Trade on Wednesday
The wheat complex saw higher trade on Wednesday. Chicago SRW futures were 3 to 4 cents in the green on Wednesday. KC HRW futures were up 4 to 5 cents in the front months. MPLS spring wheat was up 3 cents in the front months on Wednesday. The next 7...
From
Austin Schroeder
via
Barchart
Soybeans Post Double Digit Gains on Wednesday
Soybeans saw gains of 12 to 14 cents in the front months on Wednesday. The cmdtyView national average Cash Bean price was up 12 cents at $11.39 1/4. Soymeal futures were up 10 to 90 cents, with Soy Oil futures 122 to 175 points higher. There were 200 deliveries issued...