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In a significant development, Ukraine has welcomed five additional cargo ships to its Black Sea ports. This marking a pivotal moment in its trade resurgence. The move comes as an alternative arrangement to the Black Sea grain deal, which was blocked by Russia.
Deputy PM Reveals the Arrival
Deputy Prime Minister Oleksandr Kubrakov shared the news on the X social media platform, stating, “5 new vessels are waiting to be loaded in Ukrainian ports.”
These bulk carriers, named OLGA, IDA, DANNY BOY, FORZA DORIA, and NEW LEGACY, are poised to export nearly 120,000 metric tons of Ukrainian grain to Africa and Europe.
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Additional Departures
Kubrakov also disclosed that three more bulk carrier. These are Azara, Ying Hao 01, and Eneida—had departed from Ukrainian ports earlier in the day. These vessels utilized the “temporary corridor established by the Ukrainian Navy”. In addition to, were laden with 127,000 tons of agricultural products and iron ore.
This development follows Russia’s abrupt withdrawal from a deal that allowed safe passage for Ukraine’s exports, leading to a temporary “humanitarian corridor” established by Kyiv.
Impact of the Blockade
After Moscow’s invasion of Ukraine last year, it had closed off the Black Sea ports of one of the world’s largest grain suppliers, leading to accusations of using global food supplies as a bargaining tool. Moscow claimed concerns over potential weapon shipments as the reason for the blockade.
Ukraine Reopening and Closure
The Black Sea ports were reopened in July 2022 under a deal brokered by the United Nations and Turkey, which permitted Russia to inspect ships for arms. However, Moscow decided to quit the agreement a year later, reimposing the blockade due to perceived unfavorable terms regarding its food and fertilizer exports.
This latest development in Ukraine’s maritime trade underscores its resilience in the face of challenges. As it seeks to resume vital exports and secure its place in the global market.
Disclaimer: Please note that this article serves solely for informational purposes. Thus, must not construe as financial advice. We advise readers to conduct thorough research and consult with financial professionals before making any investment decisions.
