THE war in Ukraine is putting further pressure on grain-importing countries in Africa and Asia as fewer vessels available to deliver cargoes drive up shipping rates, reports Bloomberg News.
THE International Chamber of Shipping (ICS) chairman Esben Poulsson declared that 80 to 100 ships have been unable to leave Ukrainian waters for two months due to underwater mines and military blockades.
Bulk freight rates are rising as many ships will be tied up for longer periods.
'This will have repercussions for poorer countries in Africa, which can ill afford to pay huge amounts more for their grain,' said Mr Poulsson.
Russia's war in Ukraine has thrown US$120 billion of global grains trade into chaos as deliveries from the Black Sea are getting complicated.
New trades are emerging, with producers in the Americas sending cargoes to customers in Africa and Southeast Asia.
'For the here and now, freight rates will stay high and may go a little higher,' said Mr Poulsson.
'But it will be volatile because things can change.'
SeaNews Turkey
THE International Chamber of Shipping (ICS) chairman Esben Poulsson declared that 80 to 100 ships have been unable to leave Ukrainian waters for two months due to underwater mines and military blockades.
Bulk freight rates are rising as many ships will be tied up for longer periods.
'This will have repercussions for poorer countries in Africa, which can ill afford to pay huge amounts more for their grain,' said Mr Poulsson.
Russia's war in Ukraine has thrown US$120 billion of global grains trade into chaos as deliveries from the Black Sea are getting complicated.
New trades are emerging, with producers in the Americas sending cargoes to customers in Africa and Southeast Asia.
'For the here and now, freight rates will stay high and may go a little higher,' said Mr Poulsson.
'But it will be volatile because things can change.'
SeaNews Turkey