Geopolitical turmoil is making copper a national security issue, US veteran says
Geopolitical turmoil is making copper a national security issue, US veteran says
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Commodity News
30/04/2026
A confluence of geopolitical pressures, supply chain constraints, and accelerating demand from electrification and defense is reshaping how governments and investors think about .
According to a January 2026 study by S&P Global, global copper demand is projected to reach 42 million metric tons by 2040 — roughly 50% above current levels — while existing supply is poised to decline in the coming years as the mining sector faces compounding challenges across the value chain.
The White House designated copper a critical material essential to national security in February 2025, citing dependence on foreign sources and the risk of foreign market manipulation.
The supply base is also heavily concentrated. Six countries account for approximately two-thirds of global mining production, while China controls around 40% of smelting capacity, the study showed.
Earlier this month, China anno
US sanctions Iranian shadow banking system, warns of Hormuz toll sanctions risk
US sanctions Iranian shadow banking system, warns of Hormuz toll sanctions risk
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International Shipping News
30/04/2026
The US Treasury Department has rolled out sanctions on 35 entities and individuals that oversee Iran’s shadow banking architecture and facilitate Iran’s oil and arms trade, and warned that paying tolls to pass through the Strait of Hormuz risks US sanctions.
“Iran’s shadow banking system serves as a critical financial lifeline for its armed forces, enabling activities that disrupt global trade and fuel violence across the Middle East,” Secretary of the Treasury Scott Bessent said in an April 28 statement.
“Financial institutions are on notice: Any institution that facilitates or engages with these networks is at risk of severe consequences,” Bessent said.
The sanctions aim to disrupt the Iranian government’s mechanism to get payment for oil and other commodities, reducing revenue for Iran’s destabilizing activities, the Treasury’s Office of Foreign Assets Control sa
Why Strait of Hormuz disruption is more severe for global LNG markets than for oil
Why Strait of Hormuz disruption is more severe for global LNG markets than for oil
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International Shipping News
30/04/2026
Global Liquefied Natural Gas (LNG) markets are bracing for a period of sustained price elevation throughout 2026 as the ongoing closure of the Strait of Hormuz continues to throttle supply.
A new report from BCA Research highlights that even under a scenario where the strategic waterway reopens by May, global LNG exports are projected to decline by at least 6% this year due to the war.
The supply shortfall represents a significant constraint for energy-importing nations, though the structural outlook suggests a more balanced landscape beginning in 2027.
Rationing and the Asian demand response
The impact of the supply crunch is being felt most acutely in Asia, where major consumers are being forced to navigate a difficult adjustment.
The Strait of Hormuz serves as a primary artery for Persian Gulf LNG, and importing nations are increasingly turning to a combinatio
Pacific Basin Supply Assessment: Impact of Hormuz Closure on Seaborne Crude and Clean Product Flows to Asia
Pacific Basin Supply Assessment: Impact of Hormuz Closure on Seaborne Crude and Clean Product Flows to Asia
in
International Shipping News
30/04/2026
This report assesses the impact of the Strait of Hormuz disruption on seaborne crude oil, dirty petroleum products and clean petroleum products flowing to the Pacific basin. It quantifies the decline in active supply flows, the drawdown of floating storage buffers, and the degree to which alternative origins are substituting for lost Hormuz supply. All data derived from AXSMarine vessel and commodity tracking as of late March 2026.
Executive Summary
The closure of the Strait of Hormuz has removed a significant share of seaborne crude and refined product supply flowing to the Pacific basin.
US Seeks Forfeiture of Seized Oil Tankers Linked to Iran
forces board the stateless tanker Tifani (IMO: 9273337) without incident inside the U.S. Indo-Pacific Command area of responsibility. Photo from Department of War video
US Seeks Forfeiture of Seized Oil Tankers Linked to Iran
Bloomberg
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April 30, 2026
By Charles Gorrivan
Apr 30, 2026 (Bloomberg) –The US is seeking forfeiture of two Iran-linked oil tankers seized by naval forces enforcing a blockade against the Islamic Republic, according to a senior administration official.
The US Department of Justice has initiated the forfeiture process, the official said, without elaborating on what that entails or whether it signals an intent to seize the crude on board.
LNG Bunker Snapshot: Prices jump on supply risks and Strait of Hormuz disruptions
LNG Bunker Snapshot: Prices jump on supply risks and Strait of Hormuz disruptions
in
International Shipping News
29/04/2026
LNG bunker prices in Rotterdam and Singapore have rallied, driven by tightening global gas supply and escalating risks around the Strait of Hormuz.
Weekly changes in LNG bunker prices:
Rotterdam up by $63/mt to $957/mt
Singapore up by $86/mt at $1,066/mt
Rotterdam
Rotterdam’s LNG bunker price has climbed by $63/mt, tracking gains in the front-month Dutch TTF natural gas contract. Over the past week, the benchmark has risen by $1.37/MMBtu to $15.48/MMBtu ($805/mt).
The surge in TTF prices has been largely driven by tightening supply dynamics, with “continued supply restrictions due to intermittent planned and unplanned shutdowns at several gas production facilities in Norway, as well as growing expectations of a continued blockade of the Strait of Hormuz,” according to the Japan Organization for Metals and Energy Security (JOGMEC).
Market sentiment has also shifted
Farm commodities surge to two-year high on Hormuz closure
Farm commodities surge to two-year high on Hormuz closure
in
Commodity News
29/04/2026
The extended closure of the Strait of Hormuz and extreme weather have pushed farm commodity prices to a two-year high, as fertilizer challenges and the prospect of smaller harvests drive food inflation risks.
The Bloomberg Agriculture Spot Index, which tracks 10 of the world’s top-selling crop products, has climbed for a third straight month to the highest since November 2023. This marks a shift from before the Middle East war, when most crop prices were weighed down by abundant inventory and bumper harvests.
Farmers from Asia to Australia to the US are facing converging challenges posed by the Iran war and drought, impacting prices of staple food products from bread to pasta and cooking oil.
Wheat and corn, both fertilizer-intensive crops, are among the most affected. Benchmark wheat futures on the Chicago Board of Trade have surged about 12% since the war erupted in late February, and hit the highe
Navy Awards HII $283 Million Contract to Kick Off FF(X) Frigate Construction
HII’s Ingalls Shipbuilding yard in Pascagoula, Mississippi, where the U.S. Navy’s new FF(X) frigate program will enter pre-construction under a newly awarded $283 million lead yard support contract. Photo courtesy HII/Ingalls Shipbuilding.
Navy Awards HII $283 Million Contract to Kick Off FF(X) Frigate Construction
Mike Schuler
Total Views: 0
April 29, 2026
The U.S.
Trump Discusses Sustaining Iran Blockade for Months as Oil Prices Surge
Guided-missile destroyer USS Rafael Peralta (DDG 115) enforces the U.S. blockade of Iranian ports against M/T Stream after it attempted to sail to an Iranian port, April 26, 2026. Central Command Photo
Trump Discusses Sustaining Iran Blockade for Months as Oil Prices Surge
Reuters
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April 29, 2026
By Timothy Gardner
WASHINGTON/DUBAI/ISLAMABAD, April 29 (Reuters) – Donald Trump discussed how to mitigate the impact of a possible months-long U.S.
When GPS Fails: Why Maritime Needs Resilient Navigation
When GPS Fails: Why Maritime Needs Resilient Navigation
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International Shipping News
30/04/2026
Every day brings new reports of GPS interference affecting shipping, particularly in regions like the Persian Gulf. Less visible are the collisions, groundings, and near misses that follow when positioning becomes unreliable.
For an industry now built around continuous, high-accuracy satellite navigation, these are not isolated incidents. They’re early signals of a much broader vulnerability.
And without navigation and maneuvering solutions that allow safe operations even in the face of interference, maritime is going to see a lot more, and possibly a lot worse.
Chosen and implemented properly, systems to complement and backup GPS will not only make shipping safer, but will enable greater efficiencies and automation moving forward.
Danger at Sea
GPS has made maritime operations of all kinds safer and more efficient.