Ukraine loses about US$70m for each day of port blockade

For every day that the ports of Greater Odesa remain idle, shipments of Ukrainian goods worth around US$70 million are delayed. [Greater Odesa is a logistical and industrial hub in Odesa Oblast that combines three major ports – Odesa, Chornomorsk and Pivdennyi – ed.]

Source: calculations by Ekonomichna Pravda

Details: In June, the three ports of Greater Odesa shipped goods worth US$2.1 billion, with total Ukrainian exports at US$3.5 billion. This means that an average US$70 million worth of goods passed through them every day.

In the first half of this year, Ukraine exported 50.7 million tonnes of goods. About 34 million tonnes, or two-thirds, went through Greater Odesa.

Exports are not the only goods transported by sea. Of the 68.5 million tonnes of goods that crossed Ukraine's border in both directions in the first half of the year, more than 40 million tonnes did so on ships – 6 tonnes out of every 10.

Background:

• Intensified Russian attacks have caused Ukraine to lose about a third of its grain export capacity through key Black Sea ports.
• As of 23 July, inbound vessel traffic to Ukraine's Black Sea ports has been suspended due to the threat of Russian attacks. President Volodymyr Zelenskyy has also warned that Russia will be stepping up pressure on the maritime corridor.

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