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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
Chevron Wins Exxon Case But Loses Time, Oil And Billions
By Arunima Kumar July 18 (Reuters) – Exxon Mobil XOM.N has lost its arbitration challenge to block Chevron’s CVX.N $55 billion Hess HES.N acquisition deal, but the top U.S. oil producer managed to delay the tie-up by over a year,...
From
Bloomberg
via
gCaptain
Iraq Set for Key Oil Cargo Surge in Sign of Increased Output
Iraq will raise shipments of a key crude grade next month, part of an enlarged export program indicating that the OPEC+ nation is boosting its oil production.
From
Reuters
via
gCaptain
Greek Owner of Cocaine-Loaded Vessel Seized in 2023 Denies Charges
ATHENS, July 18 (Reuters) – The Greek former owner of a cargo ship, seized by Spain in 2023 for carrying more than four tons of cocaine along with coffee beans from Latin America to...
From
Mike Schuler
via
gCaptain
Cadeler Bags Long-Term Contract With Vestas as New Jack-Up Vessel Arrives Early
Offshore wind installation specialist Cadeler has taken delivery of its newest jack-up vessel, Wind Keeper, ahead of schedule and simultaneously secured a substantial long-term contract with wind turbine manufacturer Vestas....
From
Reuters
via
gCaptain
EU’s New Russia Sanctions Aim for More Effective Oil Price Cap
The European Union on Friday agreed an 18th package of sanctions against Russia over its war in Ukraine, including measures aimed at dealing further blows to the Russian oil and energy industry.
From
The Loadstar
via
gCaptain
GRIs Fizzle as Transpacific Spot Rates Extend Losing Streak
It was a relatively flat week for pricing on the major deepsea box shipping trades, with a scheduled mid-week general rate increase (GRI) failing to lift container spot rates on the headhaul eastbound transpacific route.
From
Mike Schuler
via
gCaptain
EU Targets Russia’s Shadow Fleet with Sweeping Sanctions in 18th Package
The European Union has adopted its 18th package of sanctions against Russia, with significant measures targeting the maritime sector and Russia’s shadow fleet operations that have been circumventing previous restrictions....
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From
Bloomberg
via
gCaptain
French Shipping Giant Hails US-China Deal After Freight Slumps
Rodolphe Saade, Chief Executive Officer of CMA CGM SA, the world’s third-largest container carrier, hailed a truce in the trade war between Washington and Beijing.
From
Chris Swift
via
Barchart
Shootin' the Bull about profits and losses
Cattle feeders continue to see the best profit margin ever today, while having to replace with higher feeder cattle and input costs that project significant losses in the future, without further stupendous gains in the fat market.
From
Austin Schroeder
via
Barchart
Soybeans Rallying on Easing Trade Tensions and Friendly USDA Data
Soybeans are rallying on Monday’s midday, with gains of 20 to 27 cents. There was just 1 delivery issued against May futures on Friday night. The cmdtyView Cash Bean price is up 50 1/2 cents to $10.21 3/4. Soymeal futures are up $4.20 so far on the day, with Soy...
From
Austin Schroeder
via
Barchart
Wheat Extending Weakness Following Larger USDA Numbers
Wheat futures are extending the weakness into the new week, with contracts down across the three exchanges. Chicago SRW futures are posting Monday losses of 2 to 3 cents so far on the day. There were 5 deliveries against May CBT wheat on Friday evening. Kansas City HRW futures are...
From
Austin Schroeder
via
Barchart
Corn Higher Following USDA Release
Corn futures are holding onto midday gains so far on Monday, with a friendlier than expected USDA report. Contracts are 2 to 5 cents higher. There were 12 deliveries issued against May on Friday night. They expire on Wednesday. The nearby CmdtyView national average Cash Corn price is us 2...
From
Reuters
via
gCaptain
Ocean Shipping Firm Hapag-Lloyd Welcomes China-US Tariff Reprieve
German container shipping firm Hapag-Lloyd HLAG.DE on Monday welcomed an agreement between the United States and China to temporarily slash reciprocal tariffs, saying it expected to be buoyed by a resulting increase in bookings from China to the U.S.
From
The Loadstar
via
gCaptain
E-Commerce Likely the Front-Runner in Resurge of Transpacific Trade After Deal
Trade flows – including ecommerce – are expected to restart on the transpacific after the initial new tariff agreement between the US and China. Talks over the weekend resulted in a huge reduction in tariffs – for 90 days.
From
Jim Wyckoff
via
Barchart
Looking for Value? September Soybean Meal Futures Could Be a Buy Here.
A thawing of U.S.-China trade tensions is good news for soybean meal futures.
From
Malte Humpert
via
gCaptain
Russia and China to Develop New Arctic Shipping Hubs, Putin Says During Xi Meeting
Russia and China are looking to further expand their cooperation in Arctic shipping and energy projects, President Putin confirmed during a meeting with Chinese leader Xi in Moscow.