“Pivdennyi has accounted for 35 per cent of shipments through the corridor and, until it restarts loadings, trade will struggle to return to previous levels.”
Earlier this week Ukraine accused Russia of effectively cutting its port of Pivdennyi out of the grain deal. Russia has not responded to the comments from Kyiv.
Ukraine said last week that 62 ships were waiting for inspection.
“I expect to see Russia continue to slow-walk inspections. It currently only allows a limited number of ships to move to two of the three approved ports,” Arlan Suderman, chief commodities economist with financial services group StoneX.
Inspections are required for every ship before it can enter one of the three ports covered by the deal, which also include Odesa and Chornomorsk.
The duration of an average voyage was estimated at just over 28 days, according to space-based data analytics provider Spire.
The number of cargo orders – global requests for available ships to transport grains from Ukraine – reached 376 in May versus 370 orders for April, according to a separate analysis from maritime and commodities data platform Shipfix.
Shipfix data showed that the shipment size had dropped from around 15,000 tonnes in April to just over 10,000 in May as the uncertain situation led traders to be cautious in bookings.
Forward cargo orders for June onwards were seen at 50 at present, Shipfix said.