The cost of ship freight for the Black Sea Corridor is gradually decreasing

The activation of the movement of vessels through the new humanitarian corridor opened by Ukraine in the Black Sea leads to a decrease in the cost of insurance, experts of the company Spike Brokers reported on October 11 on their channel in Telegram.

According to their data, the cost of insuring ships against military risks and damage has already decreased to 2% of the cost of the ship, and the cost of insuring cargo against military risks reaches 4% of the declared value of the goods.

First of all, the remains of goods that remained in warehouses at the time of termination of the previous "grain corridor" are shipped from the Black Sea ports.

Due to the limited supply of the fleet for sea transportation, the rates are kept at a high level, which is 40-50 $/t higher than the rates without taking into account military risks.

As of October 11, the rates of transportation from the port of Izmail by water transport were:

• Constanta (Romania) – 40-45 €/t (1-3 thousand tons),
• Eastern Italy – $65-70/t (4-6 thousand tons),
• Greece - $55-57/t (3-4 thousand tons).

From the port of Chornomorsk, the transportation rates are:

• Spain – $60-65/t (25-35 thousand tons),
• Spain – $50-55/t (55-65 thousand tons).