Market News & Headlines >> No Ships To Move in Black Sea Corridor on Wednesday

Delegations from Ukraine, Turkey and the United Nations have agreed not to plan any movement of vessels on Nov. 2 as part of the Black Sea grain deal, the United Nations secretariat at the joint coordination centre in Istanbul said on Tuesday.

In a statement, the secretariat said Turkish and U.N. inspectors have concluded 36 inspections on board outbound vessels on Nov. 1, days after Russia suspended participation in the initiative.

Three ships carrying Ukrainian grain reportedly departed from Ukraine on Tuesday despite the Russian suspension. The UN said the ships carrying 84,490 metric tons of corn, wheat and sunflower meal left through the humanitarian sea corridor set up in late July. Also, a total of 14 ships sailed from Ukraine on Monday, including one chartered by the UN World Food Program to delivery wheat to Ethiopia.

However, insurers are no longer offering new cargo insurance cover for shipments out of Ukraine through the U.N.-backed safe corridor after Russia suspended its participation, industry sources told Reuters News Service on Tuesday. Lloyd's of London insurer Ascot said on Monday it was suspending writing cover for new shipments. Since then, sources say other Lloyd's underwriters have followed suit.