All Three Of Ukraine’s Major Black Sea Ports Have Reopened To Ships

Despite Russian threats to attack ships sailing to Ukrainian ports, all three of Ukraine’s Black Sea ports have reopened to grain exporting ships.

Despite Russia’s threats to scuttle ships en route to Ukrainian ports, the first 10 vessels made use of the corridor set up by Ukraine after Russia declined to proceed with the grain deal.

It is also alleged that foreign insurance companies have begun insurance risk coverage.

The passage of vessels is a sign that Ukraine’s daring bet to have its own trade channel following the fall of a safe corridor that was agreed upon with Russia has paid off, the news organization stated.

Per Bloomberg, vessels sailing for Ukraine are examined in Istanbul following the safe corridor agreement, and their cargoes are agricultural supplies.

Per the Moscow Times, the operation of the corridor has been made possible in large part by the neutralization of the Russian Black Sea Fleet, which has been bombarded heavily by Ukrainian Armed Forces since Russia’s President Vladimir Putin refused to extend the agreement with Turkey and the UN on Ukraine’s grain exports.

The Fleet is currently locked in the city of Sevastopol, and this has made the channel in the northwest of the Black Sea, particularly along the Romanian and Bulgarian coasts, safer, mentioned the publication.

In the meantime, insurance broker Miller, technology major Clearwater Dynamics, and the Ukrainian government announced a collaboration to extend total insurance coverage of military risks for vessels that are operating in the Black Sea.

Clearwater Dynamics’ innovative tech permits vessels that are using the corridor to be tracked 24 hours a day, seven days a week until they exit the high-risk zone.

Minefields safeguard the new corridor. The path follows the coast to the territorial waters of NATO members Romania and Bulgaria. The former grain route ran directly across the sea to Istanbul, where a joint panel of UN, Turkish, and Russian officials scrutinized vessels carrying Ukrainian grain.

References: Yahoo! News

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Source: Maritime Shipping News