Ukraine may use new Black Sea route for grain shipments - producers
Ukraine is considering using its newly-tested Black Sea export corridor for grain shipments. Russia has blockaded Ukrainian ports and threatened to treat all vessels as potential military targets. In response, Ukraine announced a "humanitarian corridor" along the sea's western coastline. A Hong Kong-flagged container ship successfully traveled the route last week without being fired upon. Ukraine is finalizing a scheme with global insurers to cover grain ships traveling to and from its Black Sea ports. The country has allocated $547 million for ship insurance to attract ship owners to its ports.