Ukraine’s Dry Bulk Exports Surge as Black Sea Corridor Proves Resilient

Three years after Russia’s invasion of Ukraine, a dramatic shift in Black Sea shipping patterns has emerged, with Ukraine’s dry bulk shipments surging 87% year-over-year despite ongoing regional tensions, according to shipping industry association BIMCO.

The remarkable recovery stems from Ukraine’s successful implementation of a coastal corridor initiative launched in August 2023, follow Russia’s withdrawal from the UN-brokered Black Sea Grain Initiative. Despite Russian attacks on vessels in September and October 2023, this alternative route has proven effective, though overall v…