Ed Buttery-led Taylor Maritime Investments has evacuated an Indian crew from a bulker stuck in Ukraine since war broke out on 24 February.
The London-listed company said the unnamed handysize, which was loading corn, had called at one of Ukraine’s Black Sea ports when Russia invaded.
With the assistance of the Indian government, all 21 crew members are now safely out of the country and will be repatriated to India.
Taylor Maritime has only revealed this now on the advice of security experts, who recommended that no information be given until the seafarers were safe.
However, the bulker remains in port.
“Like all international vessels in Ukrainian ports, she is unable to leave,” Taylor Maritime said. “The vessel remains on charter and insured.”
From a market perspective, Clarksons data suggests Ukraine and Russia account for 17.5% of all seaborne grain trades at 50m tonnes and 36m tonnes respectively.
Based on recent trading history, Taylor Maritime estimates that port calls to Ukraine and Russia accounted for under 2% and 3% respectively of total port calls by its vessels.
The commodities carried on Taylor Maritime ships from Ukraine and Russia are necessity goods.
“While there may be regional trade turbulence in the near-term, TMI [Taylor Maritime] expects that international trade patterns will adapt as demand needs to be satisfied from other sources,” the shipowner said.
China to take up the slack
“As current buyers of Black Sea grain potentially look to North and South America as a substitute, a greater proportion of Black Sea grain will be picked up by China.”
Buttery, Taylor Maritime’s chief executive, said the company is deeply concerned about the conflict and the tragic loss of life in Ukraine.
He commended the organisation’s commercial and technical managers for prioritising crew safety.
