Ukrainian agro-business has officially appealed to the UN to strengthen efforts to continue the grain initiative and expand it to include the Mykolaiv Seaport, the European Business Association reported. The Ukrainian entrepreneurs explained their request is in response to current logistical difficulties in the ports of Great Odesa. This will lead to a reduction in loading and idle time for vessels and, therefore, in the costs for shipowners and grain exporters. According to analysts’ calculations, for the successful completion of all stages of the grain initiative, at least 25 vessel inspections per day are necessary (currently, 15 are performed). Market participants are concerned that many ships will be stuck in the Bosphorus with the current delay in inspections.
The EBA has asked the UN to include the port of Mykolaiv in the grain agreement.
the port of Mykolaiv in the grain agreement.