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Traders Blaze New Trails as Shipping Risks Shackle Ukraine Grain

  • Barens looks at buying vessels after brokers refuse to lease
  • Financial industry remains wary of issuing credit, insurance
Freshly harvested wheat grain falls from a combine harvester into a trailer during harvest in Kryvyi Rih, Ukraine, on June 28.

Freshly harvested wheat grain falls from a combine harvester into a trailer during harvest in Kryvyi Rih, Ukraine, on June 28.

Photographer: Julia Kochetova/Bloomberg

With shipbrokers still hesitant to lease vessels to transport grain out of Black Sea ports, Ukrainian commodity trader Barens Group is looking at buying its own.

Russia and Ukraine reached a deal last week to unblock the shipment of millions of tons of grain from Odesa and other ports. But the dangers posed by mines and Russian missile attacks is making the insurers, banks and brokers hesitant to make deals.