Insurers continuing to support hotspots

The International Union of Marine Insurance (IUMI) has confirmed that the global marine insurance market is continuing to support trade in the Red Sea and the Ukraine/Black Sea area. Since the cessation of the Ukraine grain corridor in September 2023, some 10 million mt of grain has been successfully lifted from Ukrainian ports using international tonnage insured by marine underwriters. Insurance cover has contributed to much of the Ukrainian grain harvest being exported overseas which, in turn, has helped stabilise international agri-commodity prices.