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
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
Ukraine Black Sea corridor exports hit 20m tonnes
Ukraine’s self-managed corridor enabled exports of 20m tonnes on 661 vessels to 32 countries, with agricultural product shipments forming more than two thirds of the total
Prominent shipbroker says ‘everybody knows’ how to sell tankers to fund Russia’s war and get away with it
Affinity managing director Richard Fulford-Smith says his industry is complicit in facilitating Russian oil trades that deliver $225bn in profit to fund Putin’s war on Ukraine
Reported drone strike causes fire at Russian oil refinery
Lloyd’s List Intelligence data shows at least three product tankers at berth in the port. It is unclear whether export capacity will be affected and if operations will be halted as they were in Ust-Luga after a drone attack there earlier this week
Surging oil exports see Russia displace Saudi as China’s top supplier
Russia has supplanted Saudi Arabia as China’s largest crude oil supplier after a four-year gap, with Western sanctions forcing many Russian shipments to reroute on to dark fleet tankers
Fire at Russian tanker terminal halts exports after possible drone strike
Lloyd’s List Intelligence data shows two LPG carriers and one product tanker are at berth of the port complex. Additionally, one LNG carrier and 13 oil and product tankers are waiting in the anchorage
Türkiye, Bulgaria and Romania sign Black Sea mine clearance deal
Ukraine vice-president claims success for country’s unilaterally declared shipping corridor
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