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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
Mike Schuler
via
gCaptain
Phillips 66, Citgo Move Toward Direct Venezuelan Crude Purchases
U.S. refiners Phillips 66 and Citgo Petroleum are seeking to buy heavy crude directly from Venezuelan state oil company PDVSA starting in April to maximize profits, rather than purchasing through trading houses and U.S. oil major Chevron CVX.N, according to sources familiar with the efforts.
From
Mike Schuler
via
gCaptain
Sallaum Lines Expands LNG-Fueled Fleet with Two 7,500-CEU Car Carriers
Sallaum Lines has taken delivery of two new LNG dual-fuel Pure Car and Truck Carriers, marking a significant expansion of the company’s Ocean Class fleet as it advances its environmental...
From
Mike Schuler
via
gCaptain
Engine Room Fire Claims Two Lives Aboard Bulk Carrier Off Chinese Coast
A fire in the engine room of the Singapore-registered bulk carrier MANDY has resulted in the deaths of two crew members and left a third hospitalized following an incident off the coast of China.
From
Paul Morgan
via
gCaptain
Hormuz Pressure Play: Iran’s ‘Temporary’ Closure Sends a Strategic Signal to Global Shipping
Tension in one of the world’s most critical maritime chokepoints spiked this week after Iran temporarily restricted parts of the Strait of Hormuz during live-fire military exercises, a move that underscored how quickly geopolitics can ripple through global shipping markets even without a full blockade.
From
Reuters
via
gCaptain
Los Angeles Port Exports Drop 8% Amid China Trade War
Exports from the Port of Los Angeles fell 8% in January to the lowest level in nearly three years as Trump's tariffs devastated trade with China. Soybean shipments to China dropped 80% as retaliatory duties hammer U.S. farmers.
From
Oliver Sloup
via
Barchart
Grain Markets Firm. Can it Hold?
Grain markets have been able to gain some ground in the overnight and early morning trade. Can the strength hold or will sellers take advantage it?
From
Bloomberg
via
gCaptain
Tariffs Caused Just Small China Trade Diversion, ECB Study Shows
Donald Trump’s trade levies aren’t the main reason why China is exporting more to other parts of the world, a European Central Bank study showed.
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From
Oliver Sloup
via
Barchart
Grain Markets Retreat Overnight
Grain markets failed against technical resistance which has led to some profit taking in the overnight and early morning trade
From
Austin Schroeder
via
Barchart
Wheat Falling Back to Kick Off Thursday Trade
Wheat futures are trading with losses across the three exchanges early on Thursday. The wheat market posted mixed trade on Wednesday. The Chicago SRW market was the strongest, up fractionally in the nearbys. KC HRW saw losses of 2 to 4 cents in the front months at the close. MPLS...
From
Austin Schroeder
via
Barchart
Soybeans Falling on Thursday Morning
The soybean market is down 10 to 15 cents so far on Thursday morning. Soybeans posted weaker midday trade on Wednesday after mixed Wednesday action, with contracts down 4 to as much as 11 cents. Preliminary open interest was up 10,992 contracts, suggesting net new selling. CmdtyView’s national front month...
From
Austin Schroeder
via
Barchart
Corn Pulling Back to Start Thursday Trade
Corn is trading with early Thursday losses of 3 to 5 cents. The corn market closed the Wednesday session with contracts fractionally to 4 ¼ cents higher, fending off early weakness. Preliminary open interest was up 11,187 contracts on Wednesday. The national average Cash Corn price from cmdtyView was up...
From
Mike Schuler
via
gCaptain
Gaza Ceasefire Deal Sparks Hope for Red Sea Shipping Security, But Houthis Maintain Hard Line
A potential breakthrough ceasefire agreement between Hamas and Israel, set to begin this Sunday, could potentially ease maritime tensions in the Red Sea region, though Houthi rebels in Yemen remain...
From
Austin Schroeder
via
Barchart
Soybeans Pull Back on Wednesday Despite Record NOPA Crush
Soybeans posted weaker midday trade on Wednesday after mixed Wednesday action, with contracts down 4 to as much as 11 cents. CmdtyView’s national front month Cash Bean price was up 5 1/4 cents at $9.83 3/4. Soymeal futures were $3.80 to $4.30/ton lower on the day. Soy Oil futures were...
From
Austin Schroeder
via
Barchart
Corn Closes Higher on Wednesday
The corn market closed the Wednesday session with contracts fractionally to 4 ¼ cents higher, fending off early weakness. The national average Cash Corn price from cmdtyView was up 4 1/4 cents at $4.44. USDA’s Export Sales report will be out per normal on Thursday morning, with analysts expecting to...
From
Austin Schroeder
via
Barchart
Wheat Closes Mixed on Wednesday
The wheat market posted mixed trade on Wednesday. The Chicago SRW market was the strongest, up fractionally in the nearbys. KC HRW saw losses of 2 to 4 cents in the front months at the close. MPLS spring wheat futures were steady to 2 cents lower at the Wednesday close....
From
Reuters
via
gCaptain
Tariff Jitters Drive U.S. Import Rush from China
U.S. imports from China finished the year strong after some companies stockpiled shipments of apparel, toys, furniture and electronics ahead of President-elect Donald Trump's plan to impose new tariffs that could revive a trade war between the world's economic superpowers.
From
Mike Schuler
via
gCaptain
Trump’s DOT Nominee Duffy Pledges Support for Jones Act
Former Congressman Sean Duffy, President-elect Donald Trump‘s nominee for U.S. Secretary of Transportation, expressed unequivocal support for the Jones Act and made significant commitments on transportation infrastructure during his Senate...
From
Chris Swift
via
Barchart
Shootin' the Bull about Tiger Traps and Punji Sticks
A tiger trap is where a deep hole is dug and covered with weak branches and leaves to cover the trap. Then a food item is dangled over it. Cattlemen and futures traders have built this trap.