Sea mine risk slows rush to extract grain from Ukraine
- Ukraine hopes to begin sending out the first of millions of tonnes of grain this week following landmark UN deal
- Shipowners and insurance firms are trying to understand the potential risks and how the deal will play out
Shipping companies are not rushing to export millions of tonnes of grain trapped in Ukraine, despite a breakthrough deal to provide safe corridors through the Black Sea.
That is because explosive mines are drifting in the waters, shipowners are assessing the risks and many still have questions over how the deal will unfold.
The complexities of the agreement have set off a slow, cautious start, but it’s only good for 120 days – and the clock began ticking last week.
The goal over the next four months is to get some 20 million tonnes of grain out of three Ukrainian seaports blocked since Russia’s February 24 invasion. That provides time for about four to five large bulk carriers per day to transport grain from the ports to millions of impoverished people worldwide facing hunger.
It also provides ample time for things to go awry. Only hours after the signing Friday, Russian missiles struck Ukraine’s port of Odesa – one of those included in the agreement.
Another key element of the deal offers assurances that shipping and insurers carrying Russian grain and fertiliser will not get caught in the wider net of Western sanctions. But the agreement brokered by Türkiye and the UN is running up against the reality of how difficult and risky the pact will be to carry out.