Black Sea Grain Ships Under Fire but Big Carriers Sail On

Black Sea grain shipping is being throttled less by ship damage than by soaring insurance costs and attacks on port and rail infrastructure. StoneX SVP of Ocean Freight Tom Beney and Senior Commodities Economist Mike Castle break down which vessels are being hit and why the trade could still grind to a halt. They explain why smaller ships moving grain out of the Sea of Azov into the Mediterranean and North Africa have absorbed most of the attacks, while larger dry bulk carriers have so far been spared. A single strike to an engine room can pull a vessel out of service for years, tightening available tonnage. Buyers may then turn to wheat from Argentina, the United States, and Canada for redistribution into North Africa. Discover Actionable Insights with StoneX Market Intelligence: https://shop.stonex.com/collections/all?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_tom_beney&utm_content=share U.S. Corn Exports Gain From Shifting Global Trade: https://www.stonex.com/en-us/insights/u-s-corn-exports-gain-from-shifting-global-trade/ Watch the full conversation: https://www.youtube.com/watch?v=2e05Jvjpalo 0:00 Grain Ships in the Crosshairs 0:50 Insurance Is the Real Brake 1:44 Big Carriers Slip the Net 2:05 One Engine Hit Ends a Voyage 2:42 Wheat Reroutes to North Africa Like and subscribe for more financial market insights. #StoneX #DryBulk #TomBeney #MikeCastle #Grain