Access the latest Maritime Security Threat Advisory for the week commencing 28th August 2023.

👉 A new insurance agreement is currently in the negotiation stage to ensure the safety of vessels utilizing Ukraine's humanitarian corridor. This announcement follows the termination of a grain corridor that Russia decided to abandon last month.

Vessel operators have expressed concerns about using the corridor due to recent aggressive actions by the Russian military.

The Ukrainian government remains confident in its ability to safeguard this maritime pathway. The corridor's proximity to the shore is believed to be a strategic advantage in its defense. The recent safe journey of the 32,600 dwt vessel Primus, which managed to depart Ukrainian waters through the corridor and is now on its way to Senegal, serves as a testament to the corridor's potential viability.

The Ukrainian government and various international insurers are actively discussing the specifics of the insurance deal. While these insurers are naturally apprehensive about potential threats to vessels in the corridor, the Ukrainian government remains steadfast in its assurance of providing adequate protection. The conclusion and announcement of this vital insurance arrangement are anticipated in the forthcoming days.

The humanitarian corridor holds significant importance for Ukraine, serving as a crucial channel for delivering essential supplies amidst the ongoing conflict. This upcoming insurance agreement is expected to reinforce the corridor's integrity, ensuring vessels can transport these much-needed supplies securely and efficiently.