Ukraine Crisis
As events in Ukraine unfold at a rapid pace and sanctions on Russia start to bite, Lloyd's List offers the best insight, analysis and commentary on how the crisis is impacting shipping markets
From Crimea to Iran: two more ships join Russia’s grain-smuggling fleet
Following last year’s joint investigation with Lloyd’s List on Russia’s evolving tactics to export grain from occupied Ukraine, Bellingcat uncovers two more bulkers flying the Russian flag that have joined the grain-plundering fleet out of the Russia-occupied port of Sevastopol
Ukrainian grain exports rebound as ship arrivals near pre-war levels
Fears rose over global food supply when the original Black Sea grain export corridor expired in July 2023. That threat has been averted. The number of bulker arrivals has surged and Ukraine has been able to maintain its exports
Shipping warned of increasing risks as governments struggle to contain multiplied threats
War risk insurers are struggling to calculate exposure at any given moment in certain volatile areas
Sanctioned Russian ships unload in Italy
When Pola Pelagia berths it will be the second time a Russian sanctioned ship delivers cargo to Italy in a month. So far this year just over 50 Russia-flagged ships have called at EU ports
The week in charts: Red Sea rerouting hits Med hubs | Novorossiysk-bound ships detour | Fresh flag of choice for Russia-calling dark fleet | ONE outlines growth plan
Red Sea crisis causes drop in eastern Mediterranean vessel calls heightened drone threat prompts Black Sea diversions, while Antigua and Barbuda become the latest flag of choice for Russia-bound dark fleet tankers
Reinsurer cold feet hindering Black Sea war risk cover, conference told
No war risk pollution claims in Red Sea to date, but ‘one of those vessels is going to get hit and it’s going to make a mess,’ argues Lockton VP
Novorossiysk-bound ships detouring amid heightened drone threat
A document circulated on social media suggests ships are being instructed to alter course after a general cargoship spotted a naval drone in the Black Sea earlier this month; however, the exact reason why others are anchoring mid-route is not clear
The Lloyd’s List Podcast: How long can Ukraine keep its grain corridor open?
Ukraine’s Black Sea corridor is an undeniable success. Ships are sailing into and out of Ukraine outside of an international agreement and most importantly without direct Russian interference. It is a critical route for grain export and many countries besides Ukraine have a vested interest in its continued operation. Ukraine says the military is key to the corridor functioning. This week we discuss how true this is, and whether or not a lack of military aid could really result in the route’s closure
Black Sea shipping hit by rising Russian GPS jamming
Hundreds of vessels are appearing in Moscow airport, as Russia doubles down on interfering with GPS signals to disrupt Ukrainian offensive operations
Red Sea war risk rates unmoved by Rubymar sinking
Bulk carrier sinking is first total loss caused by Houthi attacks but ‘if anything, the market is starting to flex downwards’, says underwriter
Shipping faces new reality: wars, protectionism, and threats to freedom of navigation
Rough seas ahead for shipping as world approaches ‘global danger’ not seen in decades, forum hears
The week in charts: Alternative-fuel newbuilding orders decline | Red Sea crisis pains Piraeus | War halves Ukraine’s maritime trade | Container rates slide
A slowdown in liner alt-fuel orders has led to commodity carriers making up the greater share of newbuilding orders in recent months, while Piraeus feels the pain of Red Sea disruption and Ukraine’s maritime trade is halved
Heightened security threat accepted norm for Ukraine’s Black Sea traders
A security threat is always present given the war, but those that ply the Black Sea route to and from Ukraine have learnt after two years of conflict that you have to accept certain risk and it’s best not to stress over things you can’t control
War halves Ukraine’s maritime trade
A corridor established by Ukraine’s armed forces enables vessels to move freely to and from some of the country’s seaports, but maritime trade remains a fraction of what it once was as other key ports remain closed or under occupation
Russia’s Sea of Azov trade reconfigures over fear of Ukrainian assault
Ukraine’s armed forces have successfully destroyed and damaged several critical Russian assets in the Black Sea, such as sinking the warship Caesar Kunikov on February 14
LMA updates Russian oil price cap clauses
The revised clauses take into account new measures being brought in to prevent the circumvention of the price cap
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