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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 Rallies Back on Wednesday
Corn futures closed with 8 to 9 cent gains in the front months on Wednesday The CmdtyView national average Cash Corn price was up 8 cents to $4.17 ¾. Crude oil was back up another $5.44 on Wednesday, adding some premium pack in as the Iran situation continues to unfold...
From
Reuters
via
gCaptain
Explosive Sea Drones Emerge as New Threat to Tankers in Gulf Attacks
Naval drones have been used in at least two attacks on oil tankers in the Gulf region since war erupted between the U.S., Israel and Iran, according to maritime authorities and analysts, demonstrating a dangerous new threat in the key shipping lane.
From
Chris Swift
via
Barchart
Shootin' the Bull about input costs and not knowing what to expect next
Energy, feed, and the price of money have all increased significantly in a very short period of time, unexpectedly, and may or may not recede anytime soon.
From
Mike Schuler
via
gCaptain
Photos from Lifeboat Show Human Cost of Hormuz Crisis
Newly surfaced photos taken by a rescued crew member from the Thai-flagged bulk carrier Mayuree Naree offer a stark reminder of the growing dangers facing commercial mariners in the Strait of Hormuz as the conflict involving Iran escalates.
From
Jim Roemer
via
Barchart
War is now a Commodity with an Uncertain Future
Tighten Your Seatbelts: It's Going to be a Bumpy Ride
From
Mike Schuler
via
gCaptain
U.S. Taps Chubb to Lead Trump’s $20B Insurance Plan for Hormuz Shipping
Washington’s effort to restore commercial shipping through the Strait of Hormuz took a key step forward Wednesday after the U.S. International Development Finance Corporation announced that Chubb Limited will serve as the lead insurance partner for...
From
Reuters
via
gCaptain
Iran Warns World to Brace for $200 Oil
Iran said the world should be ready for oil at $200 a barrel as its forces hit merchant ships on Wednesday and the International Energy Agency recommended a massive release of strategic reserves to dampen one of the worst oil shocks since the 1970s.
From
Austin Schroeder
via
Barchart
Wheat Posting Wednesday Midday Gains
The wheat complex saw is back to higher trade on Wednesday. Chicago SRW futures are 2 to 3 cents in the green so far on Wednesday. KC HRW futures are up 4 to 5 cents in the front months at midday. MPLS spring wheat are up 5 to 6 cents...
From
Austin Schroeder
via
Barchart
Soybeans Rallying on Wednesday
Soybeans are trading with double digit gains at midday, with contracts up 14 to 17 cents. The cmdtyView national average Cash Bean price is up 15 1/4 cents at $11.42 1/4. Soymeal futures are up 80 cents to $1.10, with Soy Oil futures 197 to 261 points higher. There were...
From
Austin Schroeder
via
Barchart
Corn Rallying on Wednesday
Corn futures are up 6 to 8 cents in the front months, with March up 10 ¼ cents. There were 553 deliveries against March corn overnight. The CmdtyView national average Cash Corn price is up 7 1/4 cents to $4.19. Crude oil is back up another $3.03 on Wednesday, adding...
From
Mike Schuler
via
gCaptain
Maritime Attacks Reach 13 in First 12 Days of Middle East Conflict
Three additional commercial vessels have been struck by projectiles in and near the Strait of Hormuz over the past 24 hours, as the maritime security situation in the region continues...