The grain corridor has been temporarily suspended due to increased Russian aviation activity.
Source. This is reported by the consulting company Barva Invest with reference to the Ukrainian Sea Ports Authority.
On the evening of October 25, the USPA published a notice that ship traffic to and from the corridor would be suspended from October 26, 2023. This de facto suspension had already been in effect for the past two days due to the decision of the military, which cited an "explosive threat" resulting from increased Russian aviation activity.
"The current ban extends until October 26, but it is possible that it will be extended," Barva Invest said.
Natalia Gumenyuk, a spokeswoman for the Southern Operational Command, said that Russian tactical aviation has demonstrated increased activity near the sea trade route over the Black Sea.
"For several days, no Russian aircraft were observed approaching the sea transportation routes. However, they eventually became more active and dropped four explosive devices," she said.
It is important to note that these events may indicate Russia's attempts to discredit the Ukrainian Armed Forces and impede the movement of ships.
These unexpected restrictions mean vessel downtime and a negative business reaction to the lack of predictability, Barva Invest emphasized.
"Those market participants who are now paying money for downtime out of their own pockets will be laying down these risks and passing additional costs down the supply chain when they continue to operate in Ukraine. As always, this will be felt by the manufacturer at the level of the purchase price," the experts explained.