Ukrainian Corn Loaded For The First Time Since The Russian Invasion
The first-of-its-kind, Panamax-sized bulk carrier transported corn from Ukraine since Russia’s invasion. It has finished loading from the Romanian port located in Constanta with the shipment built from a trickle of small volumes that have been transported across the border over the past few weeks.
The vessel was loaded with 71,200 mt of corn. It seemed to be headed to Spain and completed loading by Ukrainian Ukrlandfarming agricultural holding (better known as ULF) and Arabian Al Dahra.
Other big fleet vessels are expected to come loaded with corn from Ukraine and in the coming weeks, they will be shipped from the same port.
That comes with the government of Ukraine’s agreement carried out with Bulgaria on the shipment of Ukrainian grains through Varna, the Bulgarian port, in what is a small yet symbolic win for the Black Sea country.
Ukraine can currently only load coaster-sized vessels from shallow ports in the country’s extreme south. To continue exporting large volumes, the exporters need to deliver the grains to the closest deep seaports across the EU. The move demands more time and also imposes higher costs amid logistic issues.
Ukraine has been dependent on rail to shift volumes to borders and to export locations, with offers that were heard on a DAP basis with Poland or other nations at the border.
Two ports – Reni and Izmail – in the country’s extreme south, bordering Romania were able to load smaller coaster-size vessels. However, the greater Panamax volumes are key to connecting Ukraine’s supply with Asia’s destination markets.