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Work on an insurance mechanism follows Russia’s withdrawal from the Black Sea Grain Initiative last month, which threatens the safe passage of ships carrying grain to and from Ukrainian ports. To keep grain shipments moving, Ukraine’s government will share potential losses with insurers, which should make cover for travel through risky Ukrainian waters more affordable for commercial shipping companies. Russia’s withdrawal from the grain deal has had a chilling effect on merchant shipping around Ukraine’s three Black Sea ports as the Kremlin warned that ships leaving these ports might come under attack. And earlier this month a Russian warship fired warning shots and boarded a cargo ship in the Black Sea it claims was headed to Ukraine. Last week, the Hong Kong-flagged Joseph Schulte container ship became the first vessel to depart from any of Ukraine’s Black Sea ports since the grain deal broke down on July 17.

Persons: —, ” Oleksandr Hryban, Marsh McLennan, Marsh, Oliver Wyman —, Hryban, Marcus Baker, ” Baker, Crispin Ellison, Oliver Wyman, ” Marsh McLennan, Joseph Schulte, Volodymyr Zelensky, ” Organizations: Kyiv CNN —, United Nations, “, CNN, Initiative, Kremlin, ” Locations: Kyiv, Kyiv CNN — Ukraine, Ukrainian, Turkey, London, Marsh, Russia, Ukraine, Russian, Hong Kong, Odesa, ” Ukraine

☆ First ship to use Ukraine's corridor enters Bosphorus
▼ + stars: | 2023-08-18 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsFirst ship to use Ukraine's corridor enters BosphorusPostedThe first vessel that used Ukraine's Black Sea corridor is crossing through Turkey's Bosphorus Strait, Reuters footage showed on Friday (August 18). The Hong-Kong-flagged Joseph Schulte container ship that left the Russian-blocked Ukrainian Black Sea port of Odesa earlier this week had been in the port since Feb. 23, 2022, the day before the start of Russia's full-scale invasion of Ukraine.

Persons: Joseph Schulte Locations: Turkey's Bosphorus, Hong, Kong, Ukraine

☆ First ship to use Ukraine's corridor arrives in Istanbul - Reuters witness
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +1 min

ISTANBUL, Aug 18 (Reuters) - The first vessel that used Ukraine's Black Sea corridor is crossing through Turkey's Bosphorus Strait, a Reuters witness said on Friday. The Hong-Kong-flagged Joseph Schulte container ship that left the Russian-blocked Ukrainian Black Sea port of Odesa earlier this week had been in the port since Feb. 23, 2022, the day before the start of Russia's full-scale invasion of Ukraine. Moscow has not indicated whether it would respect the shipping corridor, and shipping and insurance sources have expressed concerns about safety. Ukraine said the corridor will be primarily used to evacuate ships that were stuck in Ukrainian ports. Local broadcasters have said the ship will anchor at Ambarli port in the south of Istanbul.

Persons: Joseph Schulte, Murad Sezer, Kim Coghill, Raju Gopalakrishnan Organizations: Local, Thomson Locations: ISTANBUL, Turkey's Bosphorus, Hong, Kong, Ukraine, Moscow, Istanbul

☆ U.S. approves shipments of F-16s to Ukraine in major gain for Kiev
▼ + stars: | 2023-08-18 | by ( ) www.cnbc.com time to read: +4 min

Even so, Air Force Gen. James Hecker, commander of U.S. air forces in Europe and Africa, told reporters in Washington he did not expect the F-16s to be a game-changer for Ukraine. Ukrainian air forces supporting infantry are using decades-old Soviet-era planes, which are vulnerable to air-to-air missile attacks from Russian fighter jets, Capt. Danish Defense Minister Jakob Ellemann-Jensen said Friday that the training of Ukrainian pilots is starting this month. A coalition of 11 Western countries — the Netherlands, Belgium, Canada, Denmark, Luxembourg, Norway, Poland, Portugal, Romania, Sweden and the United Kingdom — pledged in July to train Ukrainian pilots to fly F-16s. In other developments:— Russian air defenses stopped drone attacks on central Moscow and on the country's ships in the Black Sea, officials said Friday, blaming the attempted strikes on Ukraine.

Persons: James Hecker, Yevgen, Rakita, Jake Sullivan, State Anthony Blinken, Jakob Ellemann, Jensen, —, Joe Biden's, Abrams, Joseph Schulte Organizations: Air Force, NATO, NATO Air Policing, United, Kyiv, 18th Army Aviation Brigade, Associated Press, State, Danish, Sukhoi Locations: Netherlands, United States, Denmark, Ukraine, Washington, Europe, Ukrainian, U.S, Africa, Russia, Russian, Belgium, Canada, Luxembourg, Norway, Poland, Portugal, Romania, Sweden, United, Moscow, Hong Kong, Istanbul

☆ Ukraine reports new attack on grain silos but cargo ship sets sail
▼ + stars: | 2023-08-16 | by ( Pavel Polityuk | ) www.reuters.com time to read: +7 min

[1/2] Hong Kong-flagged container ship Joseph Schulte leaves the sea port, amid Russia's attack on Ukraine, in Odesa, Ukraine, in this handout picture released August 16, 2023. Russia has made regular air strikes on Ukrainian ports and grain silos since mid-July, when it pulled out of the U.N.-backed deal for Ukraine to export grain. Bernhard Schulte Shipmanagement (BSM), which owns the ship jointly with a Chinese bank, confirmed that the ship was en route to Istanbul. Kubrakov said it was carrying more than 30,000 metric tons of cargo in 2,114 containers, adding that the corridor would primarily be used to evacuate ships from the Black Sea ports of Chornomorsk, Odesa and Pivdennyi. DANUBE PORTSUkraine turned to its Danube river ports after Russia pulled out of the Black Sea grain deal seeking better terms for exports of its own food and fertilizer.

Persons: Joseph Schulte, Oleksandr Kubrakov, Bernhard Schulte Shipmanagement, Kubrakov, Urozhaine, Hanna Maliar, Izmail, Lidia Kelly, Gus Trompiz, Matthias Inverardi, Gabrielle Tétrault, Farber, Philippa Fletcher, Angus MacSwan Organizations: Facebook, REUTERS Acquire, Benchmark, United Nations, Reuters, United Nations Conference, Trade, Development, Thomson Locations: Hong Kong, Ukraine, Odesa, Russia, KYIV, Russian, Hong, Kong, Reni, Moscow, Big, Istanbul, Chornomorsk, Pivdennyi, Ukrainian, Urozhaine, Azov, Constanta, Romania, Black, Turkey, Nairobi

☆ Container ship leaves Russian-blocked Ukrainian port of Odesa - Kyiv
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

[1/3] Hong Kong-flagged container ship Joseph Schulte leaves the sea port, amid Russia's attack on Ukraine, in Odesa, Ukraine, in this handout picture released August 16, 2023. "A first vessel used the temporary corridor for merchant ships to/from the ports of Big Odesa," Deputy Prime Minister Oleksandr Kubrakov said on Facebook. He identified the container ship as the Hong-Kong-flagged JOSEPH SCHULTE and said it had been in the port since Feb. 23, 2022, the day before the invasion. He said the ship was carrying more than 30,000 metric tons of cargo in 2,114 containers. "The corridor will be primarily used to evacuate ships that were in the Ukrainian ports (Chornomorsk, Odesa and Pivdennyi) at the time of the full-scale invasion of the Russian Federation," the deputy prime minister said.

Persons: Joseph Schulte, Oleksandr Kubrakov, JOSEPH SCHULTE, Pavel Polityuk, Jacqueline Wong, Philippa Fletcher Organizations: Facebook, REUTERS Acquire, Rights, Russian Federation, Thomson Locations: Hong Kong, Ukraine, Odesa, Ukrainian, Russia, Moscow, Big, Hong, Kong

☆ Ships backed up in Black Sea lanes as Russia warning shots raise tensions
▼ + stars: | 2023-08-14 | by ( Jonathan Saul | ) www.reuters.com time to read: +3 min

LONDON, Aug 14 (Reuters) - Merchant ships remained backed up in lanes around the Black Sea on Monday as ports struggled to clear backlogs amid growing unease among insurers and shipping companies a day after a Russian warship fired warning shots at a cargo vessel. After an inspection, the vessel continued its journey towards the Ukrainian port of Izmail along the Danube river, Russia said. Palau-flagged vessel Sukru Okan transits Bosphorus on its way to the Black Sea in Istanbul, Turkey August 13, 2023 this screen grab from a video. Romania on Monday said that it aimed to double the monthly transit capacity of Ukrainian grain to Constanta to 4 million tonnes in the coming months. Sunday's incident cast a pall over plans announced by Ukraine last week for a "humanitarian corridor" in the Black Sea to release cargo ships trapped in Ukraine's ports since the outbreak of war.

Persons: Vasily Bykov, Kviv, Izmail, Gard, Tayyip Erdogan, Vladimir Putin, Joseph Schulte, BSM, Jonathan Saul, Conor Humphries Organizations: Merchant, Insurance, REUTERS, UN, Group, Reuters, Thomson Locations: Russian, Russia, Palau, Izmail, Musura, Romanian, Constanta, Istanbul, Turkey, Romania, Ukraine, Moscow, Ukrainian, Norwegian, Odesa

☆ Insurers count the cost of ships snagged in Ukraine crisis
▼ + stars: | 2023-02-24 | by ( Jonathan Saul | ) www.reuters.com time to read: +4 min

Curtailed shipments from major grain exporter Ukraine played a role in the resulting global food crisis. According to shipping and insurance industry assessments, there are still between 40 and 60 ships stranded, and ship owners can claim a total loss for vessels stuck for a year from their insurers. A senior industry source said exposure for the ships currently stuck was estimated at $500 million. "The liabilities for those people who have ships stuck there, to get those ships out - it’s a real headache." "There is going to be some form of constructive agreement I suspect, but then that owner will have to buy war risk insurance all over again."

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