Spike Brokers, an agricultural products wholesaler based in Kiev, reported that sea freight rates in the Black Sea increased by US$ 20/ton following a Russian attack on a cargo ship this Wednesday (8).
“As a result of a Russian missile hitting a cargo ship, sea freight rates increased by US$20/t and therefore the number of ship owners willing to load at Ukrainian ports decreased,” the company Spike Brokers reported on its channel Telegram.
The situation has worsened since Russia withdrew from a UN-brokered agreement committing to the safe transport of Ukrainian grain across the Black Sea. In response to this security gap, Russia has repeatedly targeted Ukrainian port infrastructure.
In August, Ukraine took a strategic step. Opened a humanitarian corridor for ships. This action aimed to reach African and Asian markets. The aim was to bypass the Russian blockade of the Black Sea. The blockade affected Kiev's maritime exports. The blockade was imposed by Kremlin forces following the 2022 invasion of Ukraine.
Ukrainian authorities say 91 vessels have exported 3.3 million tonnes of agricultural and metallurgical products since then.
Source: datagro
