In January 2024, Ukraine achieved a record physical export volume during the time of the full-scale invasion - domestic manufacturers exported 12 million tons of products.
This is stated in the message of the Ministry of Economy, Ukrainian News Agency reports.
According to the First Vice Prime Minister - Minister of Economy of Ukraine, Yuliya Svyrydenko, also in January, for the first time in export operations, a ship insured against war risks under UNITY insurance was involved.
"We are very close to reaching pre-war physical export volumes. In January 2024, Ukraine exported 12 million tons of products. This is only two million tons less than in pre-war January 2022. Of these, 8.7 million tons were exported by sea," Svyrydenko noted.
According to her, the prospects look no less optimistic.
So, last month, the first ship insured against military risks under UNITY insurance headed for loading in the ports of Great Odesa.
The cost of insurance for the specified vessel was 0.75% of the vessel's value, which is much cheaper than during BCGI.
"The normalization of the insurance market in trade is a cornerstone of the recovery of the export of value-added products. Our goal is not only to reach pre-war export volumes, but also to achieve greater revenue. This will become possible when Ukrainian exporters will be able to freely ship containers by sea. And this will only become possible when the insurance market for sea transportation will recover. That is why it is so important for us that insurance becomes more affordable and is actually used for the export of Ukrainian products," Svyrydenko said.
The message reminds that the Unity ship insurance program, which the government implements jointly with Marsh McLennan and a pool of insurance companies led by ASCOT, is designed to reduce the cost of insurance for sea transportation of grain and other important food products in the territorial waters of Ukraine, which will contribute, among other things, to increasing the volume of Ukrainian export.
"The total amount of coverage under the program is USD 50 million. According to estimates, the proposed insurance mechanism will make it possible to reduce the cost of grain insurance by an average of about 2.5 percentage points from the cost of the insurance tariff, which in turn will allow grain traders to save about UAH 100-140 per tons of cargo, and in general, it will bring up to UAH 4 billion to agricultural producers in general," the message says.
As Ukrainian News Agency earlier reported, during the six months of operation of the Ukrainian maritime corridor from the ports of Great Odesa, 661 vessels exported more than 20 million tons of cargo to 32 countries of the world.
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