Ukraine’s New Black Sea Shipping Corridor Utilized By 151 Ships, Claims Interfax-Ukraine

The new Black Sea shipping corridor in Ukraine has been used by 151 ships since it opened in August, according to Interfax-Ukraine.

The deputy minister for renovation and infrastructure, Yuriy Vaskov, provided the information. 3.4 million metric tons of cargo have been shipped through the corridor since its establishment, of which 3.2 million tons have been grain.

The collapse of an accord supported by the U.N. in July that had previously permitted safe passage for Ukrainian grain exports via the Black Sea provides the background for the corridor’s creation.

In response to Russia’s withdrawal from the agreement, Ukraine established a “humanitarian corridor” close to Romania and Bulgaria along the western Black Sea coast.

At present, thirty ships are loading at Ukrainian ports; these include eight vessels getting ready to load 500,000 tons of other cargo and twenty-two ships scheduled to transport 700,000 tons of grain.

Ukraine, a significant producer and exporter of grains worldwide, depends on the uninterrupted flow of grain exports to maintain economic stability.

Although the nation’s economy shrank significantly last year—roughly a third—this year, growth of approximately 5% is predicted.

Reference- The Print

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Source: Maritime Shipping News