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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....
The APS Information Center
For detailed updates and additional resources, explore our resources section.
From
Mike Schuler
via
gCaptain
Hormuz Disruptions Threaten Energy Markets, Fertilizer Trade, and Vulnerable Economies, UNCTAD Warns
Disruptions to shipping in the Strait of Hormuz are raising alarm across global energy, shipping, and agricultural markets, with the potential to hit developing economies particularly hard, according to a...
From
Bloomberg
via
gCaptain
Strait of Hormuz Remains Shut to Almost All Non-Iran-Linked Ships
The Strait of Hormuz remains effectively closed to almost all but Iran-linked traffic with the conflict in the Middle East now in its second week.
From
Mike Schuler
via
gCaptain
Container Shipping Diversions Surge 360% Amid Hormuz Closure
The effective closure of the Strait of Hormuz is now rippling through global container supply chains, with new data showing a dramatic surge in cargo diversions as carriers scramble to...
From
Mike Schuler
via
gCaptain
ONE Moves Closer to Controlling Stake in World’s Largest Ship Lessor Seaspan
Ocean Network Express (ONE) is deepening its relationship with the world’s largest containership leasing platform, announcing plans to increase its ownership stake in Poseidon Corp., the parent company of Seaspan Corporation,...
From
Jim Wyckoff
via
Barchart
Market Top Alert: Did Soybean Oil Prices Just Hit Their Peak?
May soybean oil futures present a selling opportunity on more price weakness.
From
Lori Ann LaRocco
via
gCaptain
Jet Fuel Shock Looms on U.S. West Coast as Asian Exports Dry Up
Energy export data shows South Korean jet fuel exports to the United States West Coast is dropping as countries around the world are holding onto the energy for its own self-preservation.
From
Reuters
via
gCaptain
Qatar Wants to Bolster Security Partnership with US After Iran’s Strikes
Qatar wants to strengthen its defense partnership with the United States in the wake of Iranian air strikes on Qatari territory, the foreign ministry spokesperson said on Tuesday, even as it sees the existing deal as an important deterrent.
From
Bloomberg
via
gCaptain
Gulf Oil Giants Deepen Cuts as Hormuz Halt Chokes Exports
Oil supply cuts in the Middle East are deepening, shaving about 6% off global output, as the effective closure of the Strait of Hormuz piles more pressure on producers with every day the Iran war goes on.
From
Austin Schroeder
via
Barchart
Wheat Showing Slight Losses Early on Tuesday
Wheat is showing slight losses across most winter wheat contracts to start Tuesday trade, with spring wheat facing steeper losses. The wheat complex posted Monday losses, with exception to the spring wheat contracts. Chicago SRW futures fell 13 to 14 cents in the nearbys. Open interest showed longs exiting, down...
From
Austin Schroeder
via
Barchart
Soybeans On the Higher Side to Kick Off Tuesday Trade
Soybeans are showing fractional to 2 cent gains early on Tuesday. Futures posted losses of 4 to 5 cents in the front months on Monday, retreating from overnight highs on losses in crude oil. Preliminary open interest was down 4,779 contracts on Monday, mainly in the old crop contracts. There...
From
Austin Schroeder
via
Barchart
Corn Facing Tuesday AM Weakness, But Well Off Overnihgt Lows
Corn price action is down 1 to 3 cents so far on Tuesday morning, though more than a nickel off the overnight lows. Futures were down 5 to 9 ½ cents in the front months on Monday, well off the overnight highs. Preliminary open interest was up 38,787 contracts on...