By KYIV. Oct 26 (Interfax-Ukraine) – The movement of vessels entering/exiting the sea corridor in the Black Sea has been suspended on October 26, which will affect the purchase prices of exported products, the consulting company Barva Invest predicts on Telegram.
“We would like to inform you about the temporary cessation of the movement of ships entering and exiting. The current ban applies to October 26, but it is possible that it will be extended,” the company said in a statement.
Barva Invest drew the attention of exporting companies to the fact that unexpected restrictions lead to vessel downtime, and expects a negative reaction from business to the lack of predictability.
“Those market participants who are now paying money out of their own pockets for downtime will, during further activities in Ukraine, take on these risks and transfer additional costs down the supply chain. As usual, as a result, the manufacturer will feel this at the level of the purchase price,” the analysts explained.
The Interfax-Ukraine news agency sent a request to the Ministry of Communities, Territories and Infrastructure Development of Ukraine with a request to inform how long the sea corridor will not operate and what impact this will have on the market, but the ministry did not comment on the suspension of ship traffic.
The Ukrainian Sea Ports Authority on the evening of October 25 announced the suspension of vessel movement in and out of the corridor until October 26, 2023. This de facto suspension has been in effect for the past two days due to military decisions citing an “explosive threat” arising from increased Russian aviation activity.
