Despite Russia suspending its cooperation with the Black Sea grain export deal, shipments are continuing.  Reuters in fact has reported that twelve ships with 354,500 tons of grain set sail today, which marks the largest volume shipped since the export deal began. 

Going forward, shipments continuing will be helpful for the dry bulk market. 

The region is at war, though, and there is now a chance that some sort of tragedy at sea could ultimately occur again.   As we discussed back in our work in late February and early March, several dry bulk vessels were hit by missiles and/or shelling in the Black Sea at the start of the war.  We will be continuing to monitor all related developments closely.