Ukraine’s losses from port blockade exceed $1 bln
Ukraine has lost about 1.05 $ bln in foreign exchange earnings due to the blockade of its seaports since July 22, according to TASS calculations.
Ukraine’s main commercial ports — Odessa, Chernomorsk and Yuzhny — remain idle. Shipping schedules show that large foreign merchant vessels are not calling at these ports.
Ukraine conducts maritime trade solely through the port of Izmail, where logistics are constrained by the capacity of both the harbor and the railway network serving it. Even when operating at full capacity, Izmail can handle no more than 20 mln metric tons annually, compared with about 13 mln metric tons under normal conditions. The Greater Odessa ports, meanwhile, have a combined annual capacity of over 40 mln metric tons. Ukraine is losing around 70 $ mln daily, primarily because of a sharp decline in exports of agricultural products and steel.
Available vessel traffic data do not account for deliveries of military cargo to the Ukrainian armed forces. The Russian Defense Ministry regularly reports strikes on dry cargo ships at the port of Nikolayev used to support Ukrainian troops.
Ukraine’s main commercial ports — Odessa, Chernomorsk and Yuzhny — remain idle. Shipping schedules show that large foreign merchant vessels are not calling at these ports.
Ukraine conducts maritime trade solely through the port of Izmail, where logistics are constrained by the capacity of both the harbor and the railway network serving it. Even when operating at full capacity, Izmail can handle no more than 20 mln metric tons annually, compared with about 13 mln metric tons under normal conditions. The Greater Odessa ports, meanwhile, have a combined annual capacity of over 40 mln metric tons. Ukraine is losing around 70 $ mln daily, primarily because of a sharp decline in exports of agricultural products and steel.
Available vessel traffic data do not account for deliveries of military cargo to the Ukrainian armed forces. The Russian Defense Ministry regularly reports strikes on dry cargo ships at the port of Nikolayev used to support Ukrainian troops.
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