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Wednesday, July 23, 2025

Maritime Blogs North America

The European Commission proposes a floating Russian oil price cap

Posted to Maritime Reporter on July 10, 2025

Four EU diplomats say that the European Commission will likely propose a floating Russian crude oil price cap as part of a draft new sanctions package this week in an effort to overcome the opposition of some member states. In its 18th package of sanction against Russia…

Ferrero nears about $3 billion deal for WK Kellogg, WSJ reports

Posted to Maritime Reporter on July 9, 2025

The Wall Street Journal reported Wednesday that the Italian candy company behind Ferrero is close to a $3 billion deal with WK Kellogg. This was based on the reports of people familiar with this matter. After the bell, shares of WK Kellogg (the…

Exports of cereals from France's Rouen hub to drop by 40% in 2024/25

Posted to Maritime Reporter on July 9, 2025

The operator of the port said that the poor French harvest was the reason for the 40% drop in 2024/25 cereal shipments. Haropa Port, the port operator, said that 5.2 million tons of cereals were loaded in Rouen during 2024/25 compared to 8.7 millions tons in 2023/24.

Russell: Iron ore remains calm amid China uncertainties and US tariff turmoil

Posted to Maritime Reporter on July 8, 2025

In recent months, iron ore prices have remained stable despite increasing uncertainty about the future of the steel raw material. The benchmark Singapore Exchange contract closed at $95.25 per metric ton Monday. This is down from $95.89 the previous day…

Russell: Iron ore remains calm despite China's uncertainty and US tariff turmoil

Posted to Maritime Reporter on July 8, 2025

In recent months, iron ore prices have remained stable despite increasing uncertainty about the future of the steel raw material. The benchmark Singapore Exchange contract closed at $95.25 per metric ton Monday. This is down from $95.89 the previous day…

Treasury: US to reduce exports of LPG from Venezuela

Posted to Maritime Reporter on July 7, 2025

The U.S. Treasury Department announced on Monday that the Trump administration had revoked a license that allowed shipments of LPG to Venezuelan state energy company Petroleos de Venezuela SA. The gas can be discharged until September 5 if it was loaded onto a vessel before or on July 7.

EU wheat prices ease in U.S. holiday season

Posted to Maritime Reporter on July 4, 2025

The European Wheat Futures dipped on Friday, easing from a week-high. A U.S. Holiday robbed the market of its usual energy and positive harvest prospects. Slow exports also weighed down prices. As of 1618 GMT, September wheat prices on Euronext…

Trump's bill allocates $8.6 Billion for US Coast Guard Icebreakers

Posted to Maritime Reporter on July 3, 2025

The massive tax and spending plan of President Donald Trump includes more than $8,6 billion for the U.S. Coast Guard's icebreaker fleet to be deployed in the Arctic where Washington hopes it can counter the rising dominance of Russia and China.

General Dynamics receives $1.85 billion contract for submarine production

Posted to Maritime Reporter on July 2, 2025

General Dynamics Electric Boat (the submarine-making unit of General Dynamics) announced on Wednesday that it had received a modification worth $1,85 billion on the contract previously awarded for Virginia class submarines. The company stated…

US consumer watchdog cancels $95 Million 'illegal fee' settlement with Navy Federal Credit Union

Posted to Maritime Reporter on July 1, 2025

According to an order issued on Wednesday, the top U.S. consumer watchdog agency canceled this week a $95-million settlement reached with Navy Federal Credit Union last year. Officials in the previous administration had accused them of illegally charging overdraft fees.

Powerboat racing E1 is looking for new investors to finance growth by adding more boats

Posted to Maritime Reporter on July 1, 2025

The E1 World Championship in electric powerboat racing is looking for 20 million euros (about $23,55 million) to help fund its growth. This series has already been backed by many of the biggest names in sports and entertainment. The team owners include Will Smith…

Sinking Royals vows to "keep fighting" against surging Dodgers

Posted to Maritime Reporter on June 27, 2025

Matt Quatraro, Royals manager, must find answers for his team when the Los Angeles Dodgers, who have tied for the best baseball record with Kansas City in a three game series starting Friday night. Royals are currently on a five-game losing streak and 7-15 for June.

South Korean mills purchase 50,000 tons wheat from US traders, traders claim

Posted to Maritime Reporter on June 27, 2025

European traders reported that a group of South Korean mills purchased an estimated 50,000 tons of milling grain to be sourced in the United States at an international auction on Friday. The purchase included several wheat varieties and all…

South Korean mills purchased 32,000 T of wheat from the US

Posted to Maritime Reporter on June 27, 2025

On Friday, European traders reported that a group of South Korean mills purchased an estimated 32,000 tons of milling grain to be imported from the United States. This purchase included several wheat varieties and all were purchased on a FOB…

European Defence Stocks Rise on NATO Spending Promise

Posted to Maritime Reporter on June 26, 2025

The shares of European defence companies rose on Thursday, after NATO leaders supported the demand for increased defence spending by U.S. president Donald Trump on Wednesday. At 0814 GMT on Friday, German company Rheinmetall, and Italian Fincantieri…

Trump says US oil sanctions against Iran may need to be eased to rebuild the country

Posted to Maritime Reporter on June 25, 2025

Donald Trump stated on Wednesday that the U.S. had not ceased its maximum pressure against Iran, including restrictions on the sale of Iranian oil. However, he indicated a possible easing in enforcement for the benefit of the country's rebuilding.

Julio Rodriguez, Mariners push past sinking Twins

Posted to Maritime Reporter on June 24, 2025

The Seattle Mariners beat the Minnesota Twins 6-5 on Tuesday in Minneapolis, thanks to Julio Rodriguez's two runs and a game-breaking sacrifice fly. Donovan Solano, who also scored two runs in Seattle's third consecutive win, was the other player to contribute.

EU wheat prices fall as fears of war fade and harvest approaches

Posted to Maritime Reporter on June 24, 2025

Euronext Wheat Futures dropped sharply on February 2, as traders reported that a tentative ceasefire agreement between Israel and Iran reduced war concerns, while the build-up to large harvests in Northern Hemisphere was maintaining supply pressure.

Trump says China may continue to buy oil from Iran

Posted to Maritime Reporter on June 24, 2025

Donald Trump stated on Tuesday that China could continue to buy oil from Iran, after the U.S. attacked the OPEC members nuclear facilities. He also hoped China would purchase "plenty" from the United States. "China can continue to buy Oil from Iran." "Hopefully…

After maintenance, gas flow at Cheniere Louisiana LNG plant will reach a 3-week high.

Posted to Maritime Reporter on June 23, 2025

According to LSEG, the amount of natural gases flowing to U.S. liquefied gas company Cheniere Energy’s Sabine Pass Export Plant in Louisiana is on track to reach a preliminary 3-week high on Monday. Energy traders noted that an increase in gas…