China

Oil prices fell more than $1 today after updates on China’s factory activity and fears that new COVID-19 restrictions will reduce demand.

In the past seasons, China was the main buyer of Ukrainian corn and barley. This season, China has significantly reduced grain imports from Ukraine.

Oil prices rose as Chinese government officials plan to ease some of the Covid-19 lockdown measures.

In recent weeks, the sea transportation market has shown a decrease in the level of freight rates. The trend was caused by holidays in Asia and a decrease in import demand in Europe.

In China’s Heihe County, which borders russia, fences and barbed wire have been erected near a bridge along the Amur River.

Since the world’s largest container carriers refused to work with the aggressor country, russia needs to look for new ways for container traffic. The European embargo on a number of russian raw materials and the closure of many ports for russian vessels also forces russia to look for new partners for trade. China became the hope for russian federation in this matter. But the plans of russian federation were hindered by another outbreak of COVID-19 in the People’s Republic of China, which blocked Chinese ports for an indefinite period.

An employee of the Odesa customs let through the goods from China in the port for UAH 7 million (USD 260.8 thousand) without paying a duty.

Due to the situation in Belarus, Ukraine can assume the role of a transit country for the freight between the European Union and China. This opinion was expressed by the Deputy Minister of Foreign Affairs of Ukraine Vasyl Bodnar.

Last Wednesday, June 30th, Minister of Infrastructure of Ukraine Oleksandr Kubrakov and Minister of Commerce of the People’s Republic of China Wang Wentao has signed an intergovernmental agreement. This will allow the approval of potential cooperation projects that will be supported by PRC funds.

A ceremonial meeting of the train took place today, on June 22nd, at the DP World TIS terminal in the port of Pivdenny. The train itself arrived in Odesa at the Chernomorskaya station on June 19th and delivered 50 containers of groupage cargo.