Highlights
Federal Reserve Chairman Jerome Powell suggested interest rates will be “higher for longer” and could stay above 5% this year and next. Yesterday, the Fed left interest rates unchanged, as expected, but Powell did not rule out another interest-rate hike this year.
Ukraine said they are ready to resume grain from exports from Black Sea Ports using a temporary corridor, with the first dry bulk carriers in place.
The bulk carriers Resilient Africa and Aroyat arrived in the port of Chornomorsk Sunday to load ~20,000 mt of wheat for Africa and Asia. There have been no reports about either vessel since then.
Marine insurers are not prepared to provide coverage for Ukrainian shipments, said the president of a maritime insurer on the 17th.