Nearly 30 ships stop at Ukraine’s Izmail Gate after Russian attacks on the Danube Ship’s crew

LONDON, July 24 (Reuters) – Nearly 30 ships anchored near Ukraine’s key Izmail port terminal after Russia demolished grain storage facilities on the Danube River on Monday, data showed, although it was unclear exactly what caused the halt.

Russian airstrikes before dawn on Monday wounded seven people and hit infrastructure along the Danube River, a key alternative route for Ukrainian grain since a year-old deal allowing safe exports across the Black Sea collapsed last week. Kiev said the attack was an extension of an air campaign Russia launched last week after it pulled out of the grain deal.

Around 29 ships, including chemical tankers, had stopped near Izmail, according to Reuters calculations based on ship tracking data from analytics company MarineTraffic.

The data showed that three other ships had anchored along the waterway to the Reni-Odesa terminal.

There was no immediate comment from the Ukrainian authorities.

Insurance industry sources said war risk coverage for the Ukrainian ports that were part of the previous grain deal has been suspended. On Monday it was said from three sources that some providers are also checking whether they continue to secure the Danube ports.

“The premiums for those who are still making offers will increase,” a source said.

Since the failure of the Grain Corridor Agreement and Russia’s mounting attack on ports and infrastructure, war risk insurers “form their own independent views and decide what they are willing to insure,” David Smith, head of hull and marine liability at insurance broker McGill, told Reuters.

“The difficulty is that the cost of insurance for Ukraine, unlike a taxable good, is currently not modelable.”

(Reporting by Jonathan Saul in London and Olena Harmash in Kyiv, additional reporting by Carolyn Cohn in London; Editing by Philippa Fletcher)

(c) Copyright Thomson Reuters 2023.

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