Tag: Ukraine

Inspections of ships carrying Ukrainian grain and other food exports have fallen to half since their peak, leading to backlogs in vessels that are carrying supplies to developing nations.

A bomb hit a Turkish-owned ship off the coast of Odessa according to the Turkish General Directorate of Maritime Affairs. The vessel is now heading to Romania.

Ukraine's efforts to increase exports under the Black Sea Grain Initiative with Russia are currently focusing on securing faster inspections of ships rather than including more ports in the initiative.

Ship reinsurers have faced huge losses, leading the insurers of ships to cancel covering war risks in Russia, Belarus and Ukraine from January 1, 2023.

Japanese insurers are expected to keep marine war insurance, covering the sinking and requisition of ships due to war in Russian waters for at least three months for LNG vessels.

Three Japanese insurance companies will stop insuring ships for damage in all Russian waters due to the war in Ukraine, potentially affecting Japan's energy imports such as liquefied natural gas (LNG), according to international media.

The Russian invasion of Ukraine changed several aspects of the world as we know it, adding significantly to pandemic challenges. As a global industry that touches many countries, shipping could not stay unaffected.

While the Black Sea Grain Initiative received an extension for 120 days, "Russia still has tools to artificially limit its capabilities," said the Minister of Infrastructure of Ukraine, Oleksandr Kubrakov.

Russia’s ambassador to Turkey said on Friday that Moscow sends its representatives to more ship inspections in Istanbul per day than mandated under the Black Sea grain deal, rejecting a Ukrainian accusation that Russia is slowing down the process, according to international media sources.

UN and Ukraine agreed to extend the Black Sea Grain Initiative by 120 days, aiming to ease global food shortages by facilitating Ukraine's agricultural exports from its southern Black Sea ports.