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15 Mar. 2024

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Ferry and container traffic is returning to Ukraine: how will this affect the economy?

Transport
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Ukraine
Ferry and container traffic is returning to Ukraine: how will this affect the economy?

Container traffic will soon return to the Ukrainian sea corridor in the Black Sea. This is an important step for the Ukrainian economy. Find out exactly when such transports will start and what the authorities are saying about it

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After the end of the grain deal last year, Ukraine launched its own temporary sea corridor, which made it possible to transport various types of goods. Recently, the Ukrainian corridor has received permission to operate around the clock, and ferry and container traffic is expected to resume soon.


"The corridor still has (the potential for) at least a 20% increase in volumes," Deputy Minister of Community Development, Territories and Infrastructure Yuriy Vaskov said, Interfax-Ukraine reports.


He noted that in February, the corridor reached a record volume of exports and imports - 8 million tonnes, of which 60-65% were agricultural products, while the rest were ore, metals, and fertiliser imports.


When will ferry and container shipping start?


According to the deputy minister, the first container shipments through the Ukrainian sea corridor could be carried out within two to three weeks.


"All five container terminals are ready to handle (containers - ed.). Almost all of them are involved in transshipment of agricultural and other products. But containers are a priority, and they are negotiating. I hope that in two to three weeks we will get the first steps," he said.




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The Ministry also hopes to resume road ferry service within two weeks, and rail ferry service in two months.


According to Vaskov, container services between Ukraine and Romania from the port of Reni and between Romania and Turkey from the port of Izmail are already operating in the Danube ports.


What does this mean for the economy?


According to Ekonomichna Pravda, container shipping is very important for Ukraine. There are four container terminals in Odesa ports, which used to be operated by lines of global logistics giants: Maersk, MSC, CMA CGM, COSCO, says Artem Volkov, head of maritime law practice at ANK Law Firm. Most of the imported goods that Ukrainians encountered on store shelves were imported through them.


"Almost all categories of goods were imported through the seaports of the southern region: from ceramic tiles and household appliances to tableware, textiles and gifts. A relatively small part of the imports produced in the EU was imported by road," Epicentr said in a comment to the publication.


We remind you! In 2023, Ukrainians adapted to the new conditions and once again showed resilience. In particular, there have been changes in consumer behaviour during the second year of the full-scale invasion. Read here to find out what Ukrainians spend their money on and what their shopping priorities are.


Want to know more? Read the latest news and useful materials about Ukraine and the world in the News section.




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