PORT OF SOUTH LOUISIANA AND PORT NOLA TO HELP UKRAINE REBUILD
Ukraine's major seaports face significant challenges in rebuilding after a series of missile and drone attacks by Russia. The attacked terminals near Odesa and the northern branch of the Danube delta are crucial for Ukrainian grain exports but have suffered repeated strikes over the past month. To aid in the reconstruction of its maritime infrastructure, Ukraine has partnered with the Port of South Louisiana and the Port of New Orleans. The Ukrainian Sea Ports Authority recently announced a joint cooperation agreement between Ukraine's consul in Houston and the Port of South Louisiana CEO. This agreement focuses on technical planning, development, construction, and administration as Ukraine seeks to rebuild its seaports and silos. Similarly, discussions with the Port of New Orleans aim to establish a cooperative understanding with the Port of Odesa. The ongoing conflict has disrupted Ukrainian agricultural exports, causing strain on farmers and neighboring countries. Despite de facto blockades and threats, Ukraine is attempting to restart commerce through its Black Sea grain ports without Russian approval. Recent efforts to establish a unilateral shipping lane have seen some success, but challenges remain due to the security risks and insurance complexities involved. To address this, Ukraine's economy ministry is establishing a reinsurance pool in collaboration with Lloyds and Marsh & McLennan, aiming to boost marine insurance coverage and support the revival of maritime trade.