Ukraine’s exports via maritime corridor reach 64.4M tonnes
The relevant statement was made by the Ukrainian Communities, Territories and Infrastructure Development Ministry, an Ukrinform correspondent reports.
“Over 12 months since the Ukrainian maritime corridor was launched, a total of 2,379 vessels have exported Ukrainian cargoes towards 46 countries. The total cargo turnover came to 64.4 million tonnes, including 43.5 million tonnes of agricultural products,” the report states.
The Ukrainian maritime corridor was organized after Russia began to block the passage of vessels through the existing ‘grain corridor’. Unlike the ‘grain corridor’, the Ukrainian maritime corridor can be used to ship not only agricultural products.
On August 16, 2023, JOSEPH SHULTE became the first vessel to have sailed through the maritime corridor provided for merchant ships by the Naval Forces of the Armed Forces of Ukraine. Since March 15, 2024, the Ukrainian maritime corridor running through the Odesa region’s ports had started to operate around the clock, increasing the export of agricultural and other products by 20%.
Today, two main risk insurance instruments are available to ship operators, whose vessels sail to/from Ukrainian sea ports. Firstly, an insurance mechanism provided by the world’s leading insurance companies and banks with the support of the Government of the United Kingdom. The agreement allows for the ‘Marine Hull War’ and ‘Loss of Hire War’ risks for vessels to be covered at around 1-1.25% of insurance premiums. These are practically the pre-war indicators.
Secondly, guarantees of compensation for the damage suffered by charterers, operators and/or owners of sea and inland waterway vessels during the stay of such vessels in the territorial waters of Ukraine.
A reminder that, since the beginning of the marketing year 2024/2025, as of August 7, 2024, Ukraine had exported 4.356 million tonnes of grain and leguminous crops, which is 2 million tonnes higher compared to the same period last season.
