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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
Oliver Sloup
via
Barchart
Grain Markets are on the Chopping Block
Grain markets chop around as traders digest news and position ahead of the quarterly report next week.
From
Reuters
via
gCaptain
Hapag-Lloyd Faces $40 Million to $50 Million Weekly Costs Due to Middle East Conflict
German shipping company Hapag-Lloyd HLAG.DE is incurring additional costs of $40 million to $50 million per week due to the ongoing conflict in the Middle East, a burden described as "not sustainable for a long time" by Chief Executive Rolf Habben Jansen on Thursday. Speaking at an online press conference, Habben Jansen said the company was grappling with "a big challenge" as six of its vessels, with 150 crew members, remain stranded in the Persian Gulf.
From
Austin Schroeder
via
Barchart
Wheat Starting Thursday with Slight Losses
Wheat is facing 1 to 5 cent losses in the front months early on Thursday. The wheat complex is showing strength on Wednesday. Chicago SRW futures were 6 ¼ to 7 ¾ cents higher at the close. Open interest showed some new buying, up 6,588 contracts on Wednesday. KC HRW...
From
Austin Schroeder
via
Barchart
Soybeans Holding Steady on Thursday Morning
Soybeans are near unchanged on Thursday AM trade, with fractional losses. Futures rallied late on Wednesday, with contracts up 6 ¼ to 16 ¾ cents at the close. Open interest was down 701 contracts on Wednesday. The cmdtyView national average Cash Bean price was up 17 cents at $10.98. Soymeal...
From
Austin Schroeder
via
Barchart
Corn Slipping Back Early on Thursday Morning
Corn price action is down 1 to 2 cents so far on Thursday AM trade. Futures posted 3 to 5 ¼ cent gains across the board on Wednesday despite early session weakness. Open interest suggested a rotation of ownership, down just 116 contracts. The CmdtyView national average Cash Corn price...
From
Malte Humpert
via
gCaptain
U.S. Coast Guard Announces Plans to Acquire Up to Seven New Light Icebreakers
The U.S. Coast Guard has issued a request for information (RFI) as it moves forward with plans to acquire up to seven new light icebreakers to replace an aging fleet and ensure year-round navigation in ice-prone waterways across the Northeast and Great Lakes.
From
Mike Schuler
via
gCaptain
UK Clears Military to Board Russian Shadow Fleet Tankers in Channel
The United Kingdom is stepping up its campaign against Russia’s so-called “shadow fleet,” authorizing military and law enforcement teams to board sanctioned vessels transiting British waters—including the English Channel—in a...
The APS Information Center
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From
Bill Allen
via
Barchart
Pure Hedge - Livestock and Grain
Cattle Markets are on the Rebound After Outside Markets Start to Relax.
From
Chris Swift
via
Barchart
Shootin' the Bull about seeking profits
Due to the manipulation of slaughter, beef prices have rallied and cattle prices softened. This shift in production is brining profitability back to packers.
From
Mike Schuler
via
gCaptain
Report: U.S. Intelligence Sees Signs of Iran Mine Threat Emerging in Hormuz
U.S. intelligence agencies have detected indications that Iran may be preparing to deploy naval mines in the Strait of Hormuz shipping lanes, according to a report by CBS News citing...
From
Mike Schuler
via
gCaptain
Energy Secretary Deletes Post Claiming U.S. Navy Escorted Oil Tanker Through Strait of Hormuz
U.S. Energy Secretary Chris Wright has deleted a social media post claiming that the United States Navy successfully escorted an oil tanker through the Strait of Hormuz, raising fresh questions about whether naval convoy operations...
From
Mike Schuler
via
gCaptain
Royal Navy Sends Missile Destroyer HMS Dragon to Eastern Mediterranean
The HMS Dragon departed the Royal Navy’s base in Portsmouth, England on Tuesday bound for the Eastern Mediterranean as the United Kingdom bolsters its military presence in response to escalating tensions in...
From
Editorial
via
gCaptain
Opinion: Waiving the Jones Act Won’t Lower Gas Prices—Tanker Markets Prove It
Claims that waiving the Jones Act would lower U.S. gasoline prices ignore a key reality: global tanker freight markets. Current Worldscale rates suggest foreign-flag tankers would likely deliver fuel at a higher cost than Jones Act vessels.
From
Austin Schroeder
via
Barchart
Wheat Falling Back on Tuesday
The wheat complex is trading with losses across the three exchanges. Chicago SRW futures are down 11 to 15 cents in the nearbys. KC HRW futures are 13 to 15 cents in the red so far. MPLS spring wheat is 11 to 16 cent slower. Crude oil is down another...
From
Austin Schroeder
via
Barchart
Soybeans Posting Tuesday Gains
Soybeans are trading with 6 to 9 cent gains across most contracts on Tuesday. There were 114 delivery notices against March beans overnight. The cmdtyView national average Cash Bean price is up 8 1/2 cents at $11.30. Soymeal futures are up $1.40 to $3.50, with Soy Oil futures up 34...
From
Austin Schroeder
via
Barchart
Corn Under Pressure from Crude on Tuesday, As USDA Report Shows No Surprises
Corn futures are trading with 4 to 6 cent losses across most contracts on Tuesday There were 156 deliveries issued against March corn overnight. The CmdtyView national average Cash Corn price is down 4 3/4 cents to $4.05 ½. Crude oil is down another $9.69 as more risk premium comes...
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.