Ukraine is finalizing a plan with global insurers to insure ships to and from Black Sea ports carrying grain. newspaper reports Finance Times With reference to Oleksandr Hryban, former Deputy Minister of Economy of Ukraine.
Griban told the newspaper that “an agreement is currently being developed and is being actively discussed” between relevant ministries, local banks and international insurance groups, including Lloyd’s of London insurance market.
The insurance plan can be launched in early September. It can cover up to 30 vessels, according to the FT.
According to the former Deputy Minister of Economy of Ukraine, it depends on how the structure will develop and the level of risk sharing between the state and private insurance companies.
Previously reportedThe German container ship Joseph Schulte became the first merchant ship to cross the Black Sea from Ukraine after Russia withdrew from the grain deal. His path passed through a new time corridor.
Last ship previously covered by grain agreement left Black Sea.