International shipowners and traders are so far afraid to take on any obligations regarding grain exports from Ukraine against the background of the lack of details of the export procedure and insurance, reports TASS citing Bloomberg information.
As Bloomberg notes, some shipowners expect the situation to be clarified and the cost of insurance contracts to be reduced to a level that is acceptable to them. The other part is ready to take the cargo without insurance, but first they want to see how the transport mechanism from the Ukrainian ports will work and make sure that the ships can safely pass the proposed route.
Since shipowners are not willing to take on specific obligations for the transport of goods, grain traders also adopt a wait-and-see position.
Because of this, the value of the WheatFutures on the Chicago Mercantile Exchange fell for the second straight day late last week on the back of the signing of the grain export deal.