Shipments from Ukraine slowing as Black Sea grain deal deadline nears

The pace of shipments from Ukraine under a U.N.-backed initiative has slowed as concerns grow over ships getting stuck if a deal is not renewed later this month.
Russia, which is one of the key parties involved, said it will keep talking although Moscow has threatened to quit on May 18, which has created more uncertainty for traders and shipping companies trying to plan ahead.
Under the accord, Ukraine has been able to export some 29.5 million tonnes of agricultural products, including 14.9 million tonnes of corn and 8.1 million tonnes of wheat.
However, the number of ships coming in to pick up cargoes has dropped this week to two vessels a day from three to four ships on average daily in the past three weeks, data from the agreement’s joint coordination centre showed.
Danish shipping group NORDEN, which is active in transporting grains, is among companies not sending ships into the region.