Predicting the unpredictable: The analyst view on Strike & Delay during global disruption

The podcast guests also addressed the limited reopening of ports in Ukraine around Odesa for specific types of cargo. Primarily, these are grain and other agricultural products. However, all the vessels participating in the initiative must be screened by Russia, Ukraine and Turkey in the Bosphorus.

The initiative was extended as of 19 March. Ukraine’s infrastructure minister, Oleksandr Kubrakov, said the deal will continue for 120 days. Conversely, Russia has said the initiative will remain in place for at least another 60 days,

Columb explained that the industry doesn’t expect any severe disruption here. Much of the grain exported from there is destined for developing nations, which he believes Russia wants to keep on side or neutral.

“Secondly, if Russia attempted to stop the Ukrainian grain exports, that would invite retaliation, that would severely disrupt Russia’s exports from the Black Sea,” Columb said.

The Strike & Delay sector of NorthStandard has been monitoring the impact of the war on insurance cover and seeking to support members where possible, in line with the reinsurance market, in the grain corridor initiative.