Analysis: demand is desperate but ships, crew, insurance and shipping lanes all need preparing
Cargo ships in the Black Sea wait to enter Ukraine’s Sulina canal. June’s record 2.3m tonnes of overland grain exports is just a third of Ukraine’s usual sea exports.Cargo ships in the Black Sea wait to enter Ukraine’s Sulina canal. June’s record 2.3m tonnes of overland grain exports is just a third of Ukraine’s usual sea exports.Last modified on Fri 22 Jul 2022 19.43 BST
An armada of 400 bulk cargo ships – designed for transporting agricultural goods between continents and each able to hold up to 50,000 tonnes – would be required for transporting the estimated 20m tonnes of grain stuck in Ukraine’s stores. “The ships have essentially been stopped since 24 February, so we’ve got to make sure that they’re seaworthy,” Platten said. “We’ve got to make sure the right crew are on board because a lot of the crews have been evacuated.”
Once vessels and crew have been secured, vessel owners will need to obtain adequate “war insurance” to cover ship and crew, which will undoubtedly come with higher premiums attached.
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