Industry willing to insure ships carrying Ukrainian grain

Ships transporting Ukrainian grain out of three Black Sea ports need extra insurance coverage due to the war between Russia and Ukraine. The industry is willing to take the risk, says British marine war insurance specialist.

Photo: Stringer/Reuters/Ritzau Scanpix

When the UN-led deal on exporting Ukrainian grain through the Black Sea was announced, Richard Young of insurance company Beazley feared that it could prove difficult to have the cargo vessels insured.

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