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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
Iran Vows to Resist Widened U.S. Sanctions, Says Washington Seeks Talks
Iran pledged to fight back against expanded U.S. sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks.
From
Bloomberg
via
gCaptain
Turkey Braces For Potential Gas Squeeze as U.S. Targets Iran Trade
Turkey, a key US ally and Iran’s third-largest trading partner, is at risk of losing a key energy supplier if Washington makes good on a threat to economically isolate Tehran.
From
Mike Schuler
via
gCaptain
SpaceX to Build $100 Billion Spaceport on Louisiana Gulf Coast
SpaceX plans to invest $100 billion in a massive new launch facility on Louisiana’s Gulf Coast, a project the company says could eventually support thousands of launches a year. The...
From
Mike Schuler
via
gCaptain
Iran and Oman Unveil Framework for Future Management of Strait of Hormuz
Iran and Oman have unveiled a framework for restoring safe navigation through the Strait of Hormuz, including a temporary shipping corridor, joint mine-clearing operations and further talks over the future...
From
Mike Schuler
via
gCaptain
IMO Sounds Alarm as Somali Pirates Hold More Than 90 Seafarers
The International Maritime Organization is calling for urgent action against a resurgence of piracy in the Gulf of Aden, where six merchant ships and more than 90 seafarers are now...
From
Mike Schuler
via
gCaptain
Trump Says U.S. Navy Has Cleared All Mines From Strait of Hormuz
President Donald Trump declared Tuesday that the U.S. Navy has cleared all mines from international waters in the Strait of Hormuz, even as the multinational maritime security center overseeing threats...
From
Bloomberg
via
gCaptain
Malacca Strait States Will Keep Waters ‘Free, Open and Safe’
Indonesia, Malaysia and Singapore — countries that share the primary stewardship of the Strait of Malacca — said on Tuesday they were committed to keeping the narrow corridor and the waters around it “free, open and safe for international shipping.”
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From
Reuters
via
gCaptain
China’s New Era: Dual Aircraft Carrier Formation Sails Into South China Sea
by Farah Master (Reuters) China’s aircraft carriers Liaoning and Shandong carried out dual aircraft carrier formation exercises for the first time in the South China Sea, the PLA navy said, a...
From
Oliver Sloup
via
Barchart
A New Month, A New Market?
Grain markets were relatively quiet to round out the month of October, will November bring more volatility?
From
Darren Carlat
via
Barchart
Hedge funds have their highest net long contracts for the past 52 weeks for Soybean Oil and Lean Hogs. Live Cattle is near its highest level.
Soybean Oil and Lean Hogs are at 52-week highs for hedge fund position estimates and are currently experiencing technical break outs. Live Cattle is also at extreme levels for hedge fund positions and carry yield but appears to be running out of steam.
From
Mike Schuler
via
gCaptain
Drewry Analyzes How the U.S. Election Could Reshape Container Shipping
As the U.S. presidential election nears, Simon Heaney, Senior Manager of Container Shipping at Drewry, has provided insight into how each candidate’s approach to trade and economic policies could influence...
From
Austin Schroeder
via
Barchart
Soybeans Post Halloween Strength
Soybeans saw gains of 3 1/4 to 6 cents across the board on Thursday to close the Halloween session. CmdtyView’s national front month Cash Bean price is up 4 1/4 cents at $9.29 1/4. Soymeal futures were down a dime to $2.10/ton as Dec closed below the $300 level. Soy...
From
Austin Schroeder
via
Barchart
Wheat Bulls Get Spooked on Thursday
Wheat closed out the Halloween session, with losses across the three exchanges. Chicago SRW futures were down 2 3/4 to 5 1/4 cents on the day. KC HRW contracts were 5 1/2 to 8 1/4 cents lower across the board. MPLS spring wheat was 4 ½ to 5 ¾ cents...
From
Austin Schroeder
via
Barchart
Corn Comes Back to Close with Mixed Trade
Corn futures ended the Thursday session with contracts mostly steady to 2 ¾ cents higher, as nearby December was down ¾ cent on the day. The national average Cash Corn price from cmdtyView was down 1 1/4 cents at $3.78 1/2 per bu. The average close for December corn futures...
From
Mike Schuler
via
gCaptain
ONE Reports Staggering 1000% Profit Surge Amid Global Shipping Challenges
Ocean Network Express (ONE), the world’s sixth-largest ocean carrier by capacity, reported robust financial results for its second quarter of FY2024 (July to September). The company’s revenue soared to $5.9...
From
Mike Schuler
via
gCaptain
U.S. Navy Extends Life of Battle-Tested Arleigh Burke Destroyers
The U.S. Navy has announced plans to extend the service life of 12 Arleigh Burke class Flight I Destroyers beyond their expected 35-year lifespan. Secretary of the Navy Carlos Del...
From
Chris Swift
via
Barchart
Shootin' the Bull about energy prices and fixing variable costs.
Energy prices were sharply higher again today with crude oil filling the gap and charging back towards last Friday's high.
From
Mike Schuler
via
gCaptain
U.S. Fines Mexican Shipping Company $1.75 Million for Pollution Cover-Up
In the latest case in the United States’ ongoing crack down against marine pollution, Mexico-based shipmanager Gremex Shipping S.A. has been sentenced for deliberately concealing illegal discharges of oily bilge...