By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    Trump’s tariffs creating ‘tensions’ among G7 ahead of summit: Champagne
    Trump’s tariffs creating ‘tensions’ among G7 ahead of summit: Champagne
    May 21, 2025
    Indian author Banu Mushtaq wins International Booker Prize with short story collection
    Indian author Banu Mushtaq wins International Booker Prize with short story collection
    May 21, 2025
    I’m an oncologist. Here’s my biggest piece of advice for Biden right now.
    I’m an oncologist. Here’s my biggest piece of advice for Biden right now.
    May 21, 2025
    China slams ‘separatist’ Taiwan leader on one year in office: State media
    China slams ‘separatist’ Taiwan leader on one year in office: State media
    May 20, 2025
    Russia beefs up forces near Finland’s border
    Russia beefs up forces near Finland’s border
    May 20, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    The crypto market values chains more than standalone applications
    The crypto market values chains more than standalone applications
    May 21, 2025
    Justin Sun to attend Trump’s dinner with memecoin backers
    Justin Sun to attend Trump’s dinner with memecoin backers
    May 21, 2025
    XRP to ,000? Analyst forecast explained
    XRP to $1,000? Analyst forecast explained
    May 21, 2025
    Justin Sun becomes top holder of $TRUMP token, claims spot at Trump Gala Dinner
    Justin Sun becomes top holder of $TRUMP token, claims spot at Trump Gala Dinner
    May 20, 2025
    Wall Street Ponke Launches with AI Tools, Learning Hub, and Over 0K Raised in Hours
    Wall Street Ponke Launches with AI Tools, Learning Hub, and Over $300K Raised in Hours
    May 20, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Ukraine wants ships to keep exporting its grain despite Russian attacks. Some are interested
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Business > Ukraine wants ships to keep exporting its grain despite Russian attacks. Some are interested
Ukraine wants ships to keep exporting its grain despite Russian attacks. Some are interested
Business

Ukraine wants ships to keep exporting its grain despite Russian attacks. Some are interested

Published July 22, 2023
Share
13 Min Read
SHARE

Contents
Breadcrumb Trail LinksArticle contentArticle contentTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSUBSCRIBE TO UNLOCK MORE ARTICLESREGISTER TO UNLOCK MORE ARTICLESArticle contentFinancial Post Top StoriesThanks for signing up!Article contentArticle contentArticle contentArticle contentArticle contentArticle contentArticle contentShare this article in your social networkCommentsJoin the Conversation

Breadcrumb Trail Links

  1. PMN Business

Author of the article:

The Associated Press

Courtney Bonnell

Published Jul 22, 2023  •  5 minute read

Article content

LONDON (AP) — Russia has repeatedly fired missiles and drones at Ukrainian ports key to sending grain to the world. Moscow has declared large swaths of the Black Sea dangerous for shipping. Even the U.S. said ships are at risk of being targeted.

There is still interest from ship owners in carrying Ukrainian grain through the Black Sea — if they can mitigate the risk, according to a major shipping group. And that’s a big if.

Article content

Despite the warnings and port attacks, which have leveled grain infrastructure, “shipping has always been very, very resilient in the face of these sorts of risks,” said John Stawpert, senior manager of environment and trade for the International Chamber of Shipping, which represents 80% of the world’s commercial fleet.

Advertisement 2

This advertisement has not loaded yet, but your article continues below.

Financial Post

THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY

Subscribe now to read the latest news in your city and across Canada.

  • Exclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others.
  • Daily content from Financial Times, the world’s leading global business publication.
  • Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
  • National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
  • Daily puzzles, including the New York Times Crossword.

SUBSCRIBE TO UNLOCK MORE ARTICLES

Subscribe now to read the latest news in your city and across Canada.

  • Exclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others.
  • Daily content from Financial Times, the world’s leading global business publication.
  • Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
  • National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
  • Daily puzzles, including the New York Times Crossword.

REGISTER TO UNLOCK MORE ARTICLES

Create an account or sign in to continue with your reading experience.

  • Access articles from across Canada with one account.
  • Share your thoughts and join the conversation in the comments.
  • Enjoy additional articles per month.
  • Get email updates from your favourite authors.

Article content

This week’s strikes came after Russia pulled out of a wartime accord that the U.N. and Turkey brokered last year to provide safeguards for shipping companies in a bid to end a global food crisis. Ukraine — which, along with Russia, is a major supplier of wheat, barley and vegetable oil to developing nations — shipped 32.9 million metric tons of grain to the world and supplied 80% of the World Food Program’s wheat for humanitarian aid so far this year.

Following the grain deal’s collapse, Ukraine sent a letter to the U.N. International Maritime Organization establishing its own temporary shipping corridor, saying it would “provide guarantees of compensation for damage.”

But Russia warned this week that ships traversing parts of the Black Sea would assume to be carrying weapons to Ukraine. In a seeming tit-for-tat move, Ukraine said vessels heading to Russian Black Sea ports would be considered “carrying military cargo with all the associated risks.”

Financial Post Top Stories Banner

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Thanks for signing up!

A welcome email is on its way. If you don’t see it, please check your junk folder.

The next issue of Financial Post Top Stories will soon be in your inbox.

We encountered an issue signing you up. Please try again

Article content

Advertisement 3

This advertisement has not loaded yet, but your article continues below.

Article content

Russian Deputy Foreign Minister Sergei Vershinin said Friday that the navy will check vessels to ensure they are not carrying weapons before taking other action.

Continued shipments from Ukraine will depend on vessels getting insurance for potential damage or injuries and deaths to crew members and how the safety risks play out. Ships that were exporting Ukrainian grain can be worth tens of millions of dollars, have 20 to 22 sailors on board and carry food also worth tens of millions, according to Jayendu Krishna, deputy head of maritime advisers at Drewry, a maritime research consultancy.

All ships go through threat assessments to allow crews to protect against problems before setting sail, which have grown in importance as ships deal with piracy, terrorism and war zones.

Advertisement 4

This advertisement has not loaded yet, but your article continues below.

Article content

For the Black Sea, the risks for ships would be: explosive mines, becoming collateral damage at ports or being targeted themselves, which Stawpert said would be “a huge escalation.”

“The million-dollar question is whether the threats to merchant shipping are serious and whether they’ll be followed through. And there’s no firm way of knowing that until it actually happens,” Stawpert said, adding that he has not yet heard from insurers.

With Russia’s warnings, “it is unlikely that underwriters will want to cover that risk,” said the International Union of Marine Insurance, which represents national and international marine insurers.

The group thought it was unlikely owners would put their ships and crews in danger, echoed by Munro Anderson, head of operations for Vessel Protect, which assesses war risks at sea and provides insurance with backing from Lloyd’s, whose members make up the world’s largest insurance marketplace.

Advertisement 5

This advertisement has not loaded yet, but your article continues below.

Article content

He didn’t directly speak to whether underwriting businesses like his would take on the risk but said without protections for ships like they had under the grain deal, “safety conditions cannot be guaranteed.”

Krishna said the only way to mitigate risk was through insurance from the 12 providers making up the International Group of P&I Clubs, which offers liability coverage for about 90% of the world’s cargo shipped by sea, according to its website.

“P&I clubs will be wary of even insuring” without a guarantee from the U.N. or some other body, he said.

The International Group of P&I Clubs said its CEO was the only one who could comment and that he was on vacation. Individual clubs either declined to comment or did not respond to calls or emails.

Advertisement 6

This advertisement has not loaded yet, but your article continues below.

Article content

The head of the seafarers division of the International Transport Workers’ Federation, a union for crew members, said the question should be whether it’s too risky right now to ask sailors to go to Ukrainian ports.

“The minds of seafarers won’t be on questions of insurance cover, but more likely on whether their lives are safe amidst the fighting,” David Heindel said in a statement, adding that crews “should never be targeted just for doing their job.”

In the meantime, some analysts expect most of what Ukraine was going to ship through the Black Sea will get out by road, rail and river through Europe, but the transportation costs will be higher and likely lead to lower production by Ukrainian farmers.

Ukrainian Foreign Minister Dmytro Kuleba said Thursday that Ukraine has made progress in improving those routes but that the best way to export grain is through the Black Sea. That’s how 75% of the country’s grain got to the world before the war, analysts say.

Advertisement 7

This advertisement has not loaded yet, but your article continues below.

Article content

Plus, the routes have created divisions in the European Union, with five countries saying Wednesday that they want to extend a ban on Ukrainian grain imports through the end of the year.

While Poland, Slovakia, Hungary, Romania and Bulgaria would keep allowing grain to move through their borders to world markets, their bans could create challenges like infrastructure backups that might give preference to local grain before Ukraine’s products, said Carlos Mera, head of agricultural commodities markets at Rabobank.

The five countries say Ukrainian grain has flooded their markets, leading to a glut that drove down prices for their farmers and stirring protests. They signed a joint declaration ahead of EU talks next week, urging officials to work out ways of getting Ukrainian food to the world without hurting their agricultural industries.

It’s another hurdle for Ukraine — and possibly for developing countries already struggling with high local food prices, which are helping drive hunger.

Wheat prices have risen about 17% over the last week, and poorer nations that are forced to pay more on world markets for the ingredient for staples like bread and pasta means “many millions of people being pushed into food insecurity,” Mera said.

Article content

Share this article in your social network

Comments

Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.

Join the Conversation

#Ukraine #ships #exporting #grain #Russian #attacks #interested

TAGGED:attacksexportinggraininterestedRussianshipsUkraine
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Bryce Young, Panthers reportedly agree to fully guaranteed 4-year, M deal Bryce Young, Panthers reportedly agree to fully guaranteed 4-year, $38M deal
Next Article Sale of US nuclear submarines stalled — RT World News Sale of US nuclear submarines stalled — RT World News
- Advertisement -

Latest Post

The crypto market values chains more than standalone applications
The crypto market values chains more than standalone applications
Cryptocurrency
Trump’s tariffs creating ‘tensions’ among G7 ahead of summit: Champagne
Trump’s tariffs creating ‘tensions’ among G7 ahead of summit: Champagne
World News
Justin Sun to attend Trump’s dinner with memecoin backers
Justin Sun to attend Trump’s dinner with memecoin backers
Cryptocurrency
Indian author Banu Mushtaq wins International Booker Prize with short story collection
Indian author Banu Mushtaq wins International Booker Prize with short story collection
World News
XRP to ,000? Analyst forecast explained
XRP to $1,000? Analyst forecast explained
Cryptocurrency
I’m an oncologist. Here’s my biggest piece of advice for Biden right now.
I’m an oncologist. Here’s my biggest piece of advice for Biden right now.
World News
- Advertisement -

You Might Also Like

Building materials group SIG weighs cash call after profit warning
Business

Building materials group SIG weighs cash call after profit warning

July 27, 2024
JPMorgan says majority of ATMs operating normally amid outages
Business

JPMorgan says majority of ATMs operating normally amid outages

July 22, 2024
Avatars, robots and AI: Japan turns to innovation to tackle labour crisis
Business

Avatars, robots and AI: Japan turns to innovation to tackle labour crisis

January 22, 2024
Comprehensive Guide for First-Time Users: Navigating Kratom and Peptides Purchases – Insights Success
Business

Comprehensive Guide for First-Time Users: Navigating Kratom and Peptides Purchases – Insights Success

February 17, 2024

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?