The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Romania reopened a Soviet-era rail link connecting its Danube River port of Galati to Ukraine a month earlier than expected to help boost vital grain exports from its neighbour.
Ukraine, known the breadbasket of Europe, typically exports the bulk of its grain from Black Sea ports, but they’ve been blocked by Russia’s invasion. That’s constraining sales to road, river and rail routes to European countries and shipments remain well below normal pace.
Romania has already facilitated the export of more than 1 million tons of Ukrainian grain since the war began. In a Facebook post on Thursday, Transport Minister Sorin Grindeanu said the government refitted the link connecting Galati after works by a state-owned company began in early June.
That means grains coming from Ukraine via Moldova can reach Galati directly to be transfered onto barges and then further, including to the Black Sea port of Constanta. Supplies could also be stored in a silo in Galati that has a capacity of 25,000 tons, Grindeanu said.
Romania’s largest logistics company on the Danube, Transport Trade Services SA, also said this week that it opened a new water-only route to aid Ukrainian grain exports.