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Egypt awaits 300,000-ton wheat cargoes stuck in Ukraine

Egypt awaits 300,000-ton wheat cargoes stuck in Ukraine

Arab Finance: Shipments of a total of 300,000 tons of Ukrainian wheat booked by the Egyptian General Authority for Supply Commodities (GASC) are stranded in Ukraine, four traders told Reuters on May 17th.

The wheat shipments were meant for delivery in February and March, however, a cargo is stuck in port, while the other four are yet to be loaded, the traders said.

GASC has been allowed to secure the cargoes, without offering trading companies any force majeure release from contractual obligations, the traders added.

The Egyptian Minister of Supply Ali El-Moselhi previously announced that authorities had granted an extension for the cargoes’ delivery as they were in talks with suppliers over receiving the shipments through rail to Poland.

A wheat cargo handled by Olam is stuck at the Ukrainian Port of Chornomorsk on a CTCS ship, the trades mentioned.

Meanwhile, two other cargoes are still to be loaded by Nibulon, and another two are to be loaded by Inerco, they added.

All the shipments were bought by the GASC before the Russian invasion of Ukraine, which started on February 24th.

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