WITH Ukraine's grain-export deal being signed, the focus is shifting to freeing the scores of ships stuck there since February, reports Bloomberg.
One hundred vessels carrying grain and agricultural products were trapped in Ukrainian ports when Russia's invasion began.
Meanwhile, traders declared freight for new sales is complex, with risks to insurers and shippers lingering.
Freeing stranded ships would help establish a standard on how the new corridors operate, according to Barens Group finance director Ilya Medvenko.
For some shipowners, 'one of the ways is to operate without a particular insurance, but even those are waiting to see when the precedent will be set and vessels start leaving the port area,' said Mr Medvenko.
'Only then, they'll establish the freight price and go from there.'
Wheat and corn futures in Chicago extended recently as traders wait to see if it will restore Ukrainian grain shipments.
Insurance companies are ready to cover Ukrainian grain vessels if escorts are provided, and a strategy for combating sea mines is in place.
Said SovEcon head Andrey Sizov: 'We need to see fresh vessels going in to get a confirmation if the market is ready to trade anything from Ukrainian ports.'
SeaNews Turkey
One hundred vessels carrying grain and agricultural products were trapped in Ukrainian ports when Russia's invasion began.
Meanwhile, traders declared freight for new sales is complex, with risks to insurers and shippers lingering.
Freeing stranded ships would help establish a standard on how the new corridors operate, according to Barens Group finance director Ilya Medvenko.
For some shipowners, 'one of the ways is to operate without a particular insurance, but even those are waiting to see when the precedent will be set and vessels start leaving the port area,' said Mr Medvenko.
'Only then, they'll establish the freight price and go from there.'
Wheat and corn futures in Chicago extended recently as traders wait to see if it will restore Ukrainian grain shipments.
Insurance companies are ready to cover Ukrainian grain vessels if escorts are provided, and a strategy for combating sea mines is in place.
Said SovEcon head Andrey Sizov: 'We need to see fresh vessels going in to get a confirmation if the market is ready to trade anything from Ukrainian ports.'
SeaNews Turkey